Freestanding Flex
New
For Sale
$1,650,000
617 Cepi Drive, Chesterfield, MO 63005
Office and warehouse configuration with loading access, power service, private restrooms, and on-site parking.
Property Size15,720 SF
Lot Size0.98 Acres
Price / SF$104.96
Days on Market6
Property Features for 617 Cepi Drive
General Information
Standard status
Active
Size
15,720 SF
Lot size
0.98 Acres
Property subtype
Warehouse
Warehouse & Industrial
Clear Height
16 ft
Office Build-Out
1,750 SF
Power
400 amps
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$33,027
Amenities
private restrooms
shower facilities
Building Details
Building Size
15,720 SF
Year Built
1987
Buildings
1
Listing Agency:
EXP Realty, LLC
Listed By:
Peter Lu · License #2006036727
(314) 662-6578
Source:
Aimeesimpson
Added: Sep 8
Changed: Sep 11
Last Checked: Sep 12 at 7:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty, LLC
Investment Insights
Based on property information with market context.
Freestanding flex-industrial building with approximately 15,720 SF arranged for office and warehouse use. The property includes approximately 1,750 SF of office space, approximately 16' clear warehouse height, dock-high loading, multiple drive-in and loading opportunities, private restrooms, shower facilities, and on-site parking. Built in 1987, the facility is supported by approximately 400-amp, 3-phase power and occupies approximately 0.98 acres.
The property is located at 617 Cepi Drive in Chesterfield Executive Park, near Chesterfield Airport Road and I-64/Highway 40. Access extends to Chesterfield, St. Louis County, and surrounding business corridors.
The property is located at 617 Cepi Drive in Chesterfield Executive Park, near Chesterfield Airport Road and I-64/Highway 40. Access extends to Chesterfield, St. Louis County, and surrounding business corridors.
Key Highlights
- Approximately 15,720 SF flex‑industrial building on approximately 0.98 acres
- Approximately 1,750 SF of existing office space
- Approximately 16' clear warehouse height
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
$75,671
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
4.59%
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%
$1,513,420
$1.5M
Cap Rate 7%
$1,081,014
$1.1M
Cap Rate 9%
$840,789
$840.8K
Market Conditions
NOI Build-Up for 15,720 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
$93.2K $5.93/SF
− Vacancy
−$4.2K −$0.27/SF
EGI
$89.0K $5.66/SF
− OpEx
−$13.4K −$0.85/SF
NOI
$75.7K $4.81/SF
Area
St. Louis County, MO
Vacancy
4.50%
Lease Rate
$5.93 /SF/Yr
Expense Ratio
15.00%
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%
$1,513,420
Cap Rate 7%
$1,081,014
Cap Rate 9%
$840,789
Alternative Uses
Best Use
Warehouse
$1.08M
$945.9K – $1.26M
NOI $75,671 @ 7.0% cap · market cap 4.59%
Second Best
Industrial
$890.2K
$779.0K – $1.04M
NOI $62,317 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$3.37M
$2.95M – $3.94M
NOI $236,165 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
714
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 63005, MO
19,235
Population
7,322
Households
2.6
Avg Household Size
44
Median Age
81%
College-Educated
98%
High-School Grad
36.5 sq mi
ZIP Area
527
Density / Sq Mi
$202,232
Median Household Income
$103,426
Median Earnings
$1,570
Median Rent
$671,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse configuration with loading access, power service, private restrooms, and on-site parking.
Where is this flex space located?
The property is located at 617 Cepi Drive Chesterfield, MO.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Approximately 15,720 SF flex‑industrial building on approximately 0.98 acres; Approximately 1,750 SF of existing office space; Approximately 16' clear warehouse height
