Historic Office
New
For Sale
$850,000
424 N 2nd Street, Saint Charles, MO 63301
Commercial Sale, St Charles, MO
Property Size2,600 SF
Lot Size0.17 Acres
Price / SF$326.92
Days on Market1
Property Features for 424 N 2nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
City/Stcharles
Standard status
Active
APN
6-009D-B035-00-0005.0000000
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6555
Utilities
Water source
Public
Amenities
kitchen
half bath
kitchenette
walk-out basement
multiple entrances
Building Details
Year built
1890
Floors in Building
2
Flooring type
Wood
Building materials
Brick
Listing Agency:
Berkshire Hathaway HomeServices Select Properties
(636) 720-1100
Listed By:
Katie Urbanowicz
(314) 835-6000
Added: Sep 12
Last Checked: Sep 12 at 6:06AM
MLS# 26056817
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This designated historic office building dates to 1890 and provides approximately 2,600 SF across a main level, upper level, and walk-out basement. The main floor includes four office or work areas, a kitchen, and a half bath. Upstairs are three additional rooms, a kitchenette, and another half bath. Basement space adds storage or flexible-use capacity. Brick construction, wood flooring, public water, and several entrances contribute to the property’s functional office configuration.
Private parking includes an 8-car lot and 2 additional spaces near the side entrance. The property is next to the County Courthouse and sits between Historic Main Street and Frenchtown in St. Charles. It is also steps from the City Centre Complex, within an area undergoing improvements intended to connect nearby districts and the riverfront.
Private parking includes an 8-car lot and 2 additional spaces near the side entrance. The property is next to the County Courthouse and sits between Historic Main Street and Frenchtown in St. Charles. It is also steps from the City Centre Complex, within an area undergoing improvements intended to connect nearby districts and the riverfront.
Key Highlights
- Approximately 2,600 SF designated historic office building
- Built in 1890 with brick construction and wood flooring
- Main level offers four office/work spaces, kitchen, and half bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,241
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$644,820
$644.8K
Cap Rate 7%
$460,586
$460.6K
Cap Rate 9%
$358,233
$358.2K
Market Conditions
NOI Build-Up for 2,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.0K $22.68/SF
− Vacancy
−$16.0K −$6.15/SF
EGI
$43.0K $16.53/SF
− OpEx
−$10.7K −$4.13/SF
NOI
$32.2K $12.40/SF
Area
St. Charles County, MO
Vacancy
27.10%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$644,820
Cap Rate 7%
$460,586
Cap Rate 9%
$358,233
Alternative Uses
Best Use
Office B
$460.6K
$403.0K – $537.4K
NOI $32,241 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$688.1K
$602.1K – $802.8K
NOI $48,168 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,553
Businesses Nearby
Explore this area
Business Placement
Demographics for 63301, MO
50,890
Population
22,687
Households
2.2
Avg Household Size
39
Median Age
39%
College-Educated
94%
High-School Grad
84.3 sq mi
ZIP Area
604
Density / Sq Mi
$83,551
Median Household Income
$46,433
Median Earnings
$1,093
Median Rent
$249,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Designated historic office property with flexible rooms, multiple entrances, and dedicated parking near the County Courthouse.
Where is this office building located?
The property is located at 424 N 2nd Street Saint Charles, MO.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Approximately 2,600 SF designated historic office building; Built in 1890 with brick construction and wood flooring; Main level offers four office/work spaces, kitchen, and half bath
