Building Details

Tenancy Multi

Listing Agency: Plaza Commercial Realty l***@aol.com Show Phone

Listed By: Mike Grellner · License #2002031391

Source: Crexi

Added: Feb 7, 2024 Changed: Aug 8 Last Checked: Aug 29 at 10:35PM

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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 = 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

$317,821

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

8.15%

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%

$6,356,420 $6.4M

Cap Rate 7%

$4,540,300 $4.5M

Cap Rate 9%

$3,531,344 $3.5M

Market Conditions

NOI Build-Up for 22,500 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

$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 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%

$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.

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

Questions? Ask Rey

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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.