Building Details

Year built 1950

Floors in Building 1

Flooring type Carpet, Concrete, Terrazzo, Wood

Building materials Concrete, Block

Listing Agency: Powerhaus Realty Show Phone

Listed By: Richard Lewis · License #1999022329 Show Phone

Added: Sep 18 Changed: Sep 19 Last Checked: Sep 22 at 10:06AM

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MLS# 26060203

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Investment Insights

Based on property information with market context.

This flex property combines office and warehouse components with a paved, fenced 0.8-acre site. The building includes four offices, separate half baths for the office and warehouse areas, 10-foot floor-to-ceiling height, thermal windows, and a thermal front entry. Loading improvements include 72 feet of covered truck dock with doors, an additional 29-foot exterior truck dock, and 23 feet between the dock doors and dock area. Eight concrete storage or landscape bins are also located on the property, each measuring 6 feet tall by 12 feet wide by 22 feet deep.

The parcel extends between Evergreen and Hancock and occupies a corner position in an industrial area. Access to I-170, I-70, and I-270 is within the stated distances, while St. Louis Lambert International Airport is identified as a 4-minute drive. C2 zoning is in place, with the source noting warehouse, landscaping, hardware, and multipurpose use potential.

Key Highlights

• 0.8‑acre fenced and paved site
• 72 feet of covered truck dock with doors
• Additional 29‑foot exterior truck dock

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

$28,882

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

6.88%

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%

$577,640 $577.6K

Cap Rate 7%

$412,600 $412.6K

Cap Rate 9%

$320,911 $320.9K

Market Conditions

NOI Build-Up for 6,000 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

$35.6K $5.93/SF

− Vacancy

−$1.6K −$0.27/SF

EGI

$34.0K $5.66/SF

− OpEx

−$5.1K −$0.85/SF

NOI

$28.9K $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%

$577,640

Cap Rate 7%

$412,600

Cap Rate 9%

$320,911

Alternative Uses

Best Use

Retail

$1.15M

$1.01M – $1.35M (±1% cap)

NOI $80,714 @ 7.0% cap · market cap 19.22%

Second Best

Warehouse

$412.6K

$361.0K – $481.4K (±1% cap)

NOI $28,882 @ 7.0% cap · market cap 6.88%

Theoretical Best

Office A

$1.29M

$1.13M – $1.50M (±1% cap)

NOI $90,139 @ 7.0% cap · market cap 21.46%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Spa & Massage Center Parking Lot & Garage Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

10 ft

Clear height

Yes

Fenced yard

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

258

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 63134, MO

12,737

Population

5,675

Households

2.2

Avg Household Size

35

Median Age

17%

College-Educated

86%

High-School Grad

8.3 sq mi

ZIP Area

1,535

Density / Sq Mi

$42,222

Median Household Income

$32,136

Median Earnings

$1,107

Median Rent

$92,000

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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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Fenced, paved industrial property with offices, warehouse space, covered loading, and C2 zoning.

Where is this flex space located?

The property is located at 8515 Airport Road Berkeley, MO.

What is the asking price?

The asking price for this property is $420,000.

What are key features of this property?

This property features: 0.8‑acre fenced and paved site; 72 feet of covered truck dock with doors; Additional 29‑foot exterior truck dock