Warehouse with Office and Dock
For Sale
$2,600,000
629 Cepi Drive, Chesterfield, MO 63005
Warehouse and office facility with insulated, sprinkled warehouse space, 2 dock-high doors, and 1 drive-in door.
Property Size20,650 SF
Lot Size1.65 Acres
Price / SF$125.91
Days on Market245
Property Features for 629 Cepi Drive
General Information
Standard status
Active
Size
20,650 SF
Lot size
1.65 Acres
Property subtype
Commercial
Zoning
M-3
Warehouse & Industrial
Clear Height
18 ft
Dock-High Doors
2
Drive-In Doors
1
Heavy Power
Yes
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$41,700
Amenities
private offices
conference room
kitchen
bathrooms
open workstations
Building Details
Building Size
20,650 SF
Year Built
1995
Year Renovated
2020
Buildings
1
Stories
1
Listing Agency:
Empire Real Estate Services LLC
(636) 305-8700
Listed By:
Michael Tippit
(636) 305-8700
Source:
Century21laclede
Added: Dec 22, 2025
Changed: Aug 23
Last Checked: Aug 23 at 6:25AM
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 Empire Real Estate Services LLC
Investment Insights
Based on property information with market context.
This warehouse and office building was built in 1995 and renovated in 2017 and 2020. The facility totals 20,650 sf, including approximately 4,650 sf of office space and about 16,000 sf of warehouse. The warehouse features an insulated, sprinkled environment with skylights and LED lighting, supported by a steel superstructure with insulated masonry and metal exterior walls. Additional improvements include 18' ceilings, large ventilation fans, gas heaters, and some AC in the warehouse, along with an alarm system.
The site is 1.65 acres with reinforced concrete slab construction, level topography, and 40+ striped parking spots plus ample truck turnaround areas. The building has 2 dock-high doors and 1 drive-in door, and is served by 3-phase electricity. Office amenities include seven private offices, a conference room, a kitchen, and three bathrooms, with large open areas for multiple workstations.
Zoned M-3 (planned industrial), the property is positioned to support a range of manufacturing and warehouse distribution uses. Highway 40/64 provides access to downtown St. Louis to the east and Kansas City to the west, and the location is described as being near Spirit of St. Louis Airport.
The site is 1.65 acres with reinforced concrete slab construction, level topography, and 40+ striped parking spots plus ample truck turnaround areas. The building has 2 dock-high doors and 1 drive-in door, and is served by 3-phase electricity. Office amenities include seven private offices, a conference room, a kitchen, and three bathrooms, with large open areas for multiple workstations.
Zoned M-3 (planned industrial), the property is positioned to support a range of manufacturing and warehouse distribution uses. Highway 40/64 provides access to downtown St. Louis to the east and Kansas City to the west, and the location is described as being near Spirit of St. Louis Airport.
Key Highlights
- 20,650 SF building built in 1995 with 4,650 SF office and approx. 16,000 SF insulated warehouse
- Warehouse features 2 dock‑high doors, 1 drive‑in door, approx. 18' ceilings, skylights, and LED lighting
- Reinforced concrete slab with steel superstructure; insulated masonry and metal exterior walls with metal roof
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
$99,402
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
3.82%
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%
$1,988,040
$2.0M
Cap Rate 7%
$1,420,029
$1.4M
Cap Rate 9%
$1,104,467
$1.1M
Market Conditions
NOI Build-Up for 20,650 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
$122.5K $5.93/SF
− Vacancy
−$5.5K −$0.27/SF
EGI
$116.9K $5.66/SF
− OpEx
−$17.5K −$0.85/SF
NOI
$99.4K $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%
$1,988,040
Cap Rate 7%
$1,420,029
Cap Rate 9%
$1,104,467
Alternative Uses
Best Use
Warehouse
$1.42M
$1.24M – $1.66M
NOI $99,402 @ 7.0% cap · market cap 3.82%
Second Best
Industrial
$1.17M
$1.02M – $1.36M
NOI $81,861 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$4.43M
$3.88M – $5.17M
NOI $310,230 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse and office facility with insulated, sprinkled warehouse space, 2 dock-high doors, and 1 drive-in door.
Where is this flex space located?
The property is located at 629 Cepi Drive Chesterfield, MO.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 20,650 SF building built in 1995 with 4,650 SF office and approx. 16,000 SF insulated warehouse; Warehouse features 2 dock‑high doors, 1 drive‑in door, approx. 18' ceilings, skylights, and LED lighting; Reinforced concrete slab with steel superstructure; insulated masonry and metal exterior walls with metal roof
