Office/Warehouse Building in St.
For Sale
$1,100,000
620 Shenandoah Avenue, Saint Louis, MO 63104
18,975 SF office/warehouse on 1.07 acres in St. Louis.
Property Size18,975 SF
Lot Size1.07 Acres
Price / SF$57.97
Days on Market168
Property Features for 620 Shenandoah Avenue
General Information
Standard status
Active
Size
18,975 SF
Lot size
1.07 Acres
Property subtype
Industrial
Listing Agency:
Intelica CRE
(314) 270-5993
Listed By:
Dan Merlo, CCIM · License #1999093826
Source:
Corfac
Added: Mar 5
Changed: Jul 6
Last Checked: Aug 20 at 5:09AM
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 Intelica CRE
Investment Insights
Based on property information with market context.
This 18,975 square foot office/warehouse building is situated on 1.07 acres in St. Louis City. The property features 2,610 square feet of office space and a warehouse area with a 15.5-foot clear ceiling height. The column spacing is 40 feet by 24 feet. Loading and unloading are facilitated by two docks and one drive-in door.
Key Highlights
- 18,975 SF Office/Warehouse building on 1.07 acres
- Located in St. Louis City
- 15.5' clear ceiling 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
$91,340
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
8.30%
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%
$1,826,800
$1.8M
Cap Rate 7%
$1,304,857
$1.3M
Cap Rate 9%
$1,014,889
$1.0M
Market Conditions
NOI Build-Up for 18,975 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
$112.5K $5.93/SF
− Vacancy
−$5.1K −$0.27/SF
EGI
$107.5K $5.66/SF
− OpEx
−$16.1K −$0.85/SF
NOI
$91.3K $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%
$1,826,800
Cap Rate 7%
$1,304,857
Cap Rate 9%
$1,014,889
Alternative Uses
Best Use
Office B
$3.31M
$2.89M – $3.86M
NOI $231,561 @ 7.0% cap · market cap 21.05%
Second Best
Warehouse
$1.30M
$1.14M – $1.52M
NOI $91,340 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$4.07M
$3.56M – $4.75M
NOI $285,066 @ 7.0% cap · market cap 25.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 63104, MO
19,317
Population
10,958
Households
1.8
Avg Household Size
34
Median Age
54%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
5,681
Density / Sq Mi
$70,127
Median Household Income
$53,693
Median Earnings
$1,054
Median Rent
$249,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Universal Dedicated Warehouse — 400 Shenandoah Ave, St. Louis, MO 63104
- South Side Storage & Moving Co — sidney st, st. louis, mo 63104
- Adm Grain — 10 Pitzman Ave, Sauget, IL 62201
Frequently Asked Questions
What type of property is this?
Warehouse - 18,975 SF office/warehouse on 1.07 acres in St. Louis.
Where is this warehouse located?
The property is located at 620 Shenandoah Avenue Saint Louis, MO.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 18,975 SF Office/Warehouse building on 1.07 acres; Located in St. Louis City; 15.5' clear ceiling height
