Building Details

Tenancy Multi

Listing Agency: Plaza Commercial Realty

Listed By: Mike Grellner · License #2002031391 Show Phone

Source: Crexi

Added: Feb 7, 2024 Changed: Oct 7 Last Checked: Oct 14 at 10:36PM

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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 Plaza Commercial Realty

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

Key Highlights

• No property information was provided to extract selling points.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$317,821

Cap Rate

8.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,356,420 $6.4M

Cap Rate 7%

$4,540,300 $4.5M

Cap Rate 9%

$3,531,344 $3.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 22,500 SF

Gross rent

$518.4K $23.04/SF

− Vacancy

−$29.4K −$1.31/SF

EGI

$489.0K $21.73/SF

− OpEx

−$171.1K −$7.61/SF

NOI

$317.8K $14.13/SF

Area

Boone County, MO

Vacancy

5.68%

Lease Rate

$23.04 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,356,420

Cap Rate 7%

$4,540,300

Cap Rate 9%

$3,531,344

Alternative Uses

Best Use

Flex RnD

$4.54M

$3.97M – $5.30M (±1% cap)

NOI $317,821 @ 7.0% cap · market cap 8.15%

Second Best

Industrial

$1.43M

$1.25M – $1.67M (±1% cap)

NOI $100,021 @ 7.0% cap · market cap 2.56%

Theoretical Best

Office A

$8.00M

$7.00M – $9.34M (±1% cap)

NOI $560,261 @ 7.0% cap · market cap 14.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Location Intelligence

Trade Area within ½ mile

66

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 65010, MO

7,128

Population

3,092

Households

2.3

Avg Household Size

36

Median Age

41%

College-Educated

93%

High-School Grad

60.7 sq mi

ZIP Area

117

Density / Sq Mi

$93,025

Median Household Income

$53,900

Median Earnings

$1,180

Median Rent

$274,100

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Similar Off Market Nearby

• Word of Mouth Catering — 503 E Broadway, Ashland, MO 65010

Frequently Asked Questions

Where is this flex space located?

The property is located at 7070 Baldridge Ave Ashland, MO.

What is the asking price?

The asking price for this property is $3,900,000.

What are key features of this property?

This property features: No property information was provided to extract selling points.