Office Building Leased to
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3715 Beck Rd, Saint Joseph, MO 64506
7,912 SF office building leased to Social Security Administration.
Property Size7,912 SF
Price / SF$233.82
Days on Market837
Property Features for 3715 Beck Rd
General Information
Standard status
Active
Size
7,912 SF
Class
A
Total Parking Spaces
43
Property subtype
Office
Zoning
C-3
Occupancy
100%
Lease Type
Gross
Investment Type
Net Lease
Net Operating Income
$101,380
Building Details
Year Built
1985
Year Renovated
2023
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
BHHS Stein & Summers
(816) 390-7478
Listed By:
Raymond Sisson
Source:
Crexi
Added: May 16, 2024
Changed: Aug 22
Last Checked: Aug 29 at 8:44PM
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 BHHS Stein & Summers
Investment Insights
Based on property information with market context.
This 7,912 square foot office building, based on 7227 BOMA standards, is located within the Woodlawn Village Office Condominiums. The property is currently leased to the General Services Administration (GSA) with the Social Security Administration as the tenant. A 15-year lease commenced in September 2023. Situated just off the Belt Highway, the location provides convenient access to nearby amenities including a Price Chopper, banks, restaurants, and retail establishments, in addition to other office spaces. Traffic counts on the adjacent Belt Highway are approximately 21,850 AADT.
Key Highlights
- Leased to GSA with Social Security Administration tenant, providing stable income.
- 15‑year lease term commenced in September 2023, ensuring long‑term tenancy.
- 7,912 SF space suitable for the tenant's needs.
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
$109,375
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
5.91%
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%
$2,187,500
$2.2M
Cap Rate 7%
$1,562,500
$1.6M
Cap Rate 9%
$1,215,278
$1.2M
Market Conditions
NOI Build-Up for 7,912 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
$182.3K $23.04/SF
− Vacancy
−$36.5K −$4.61/SF
EGI
$145.8K $18.43/SF
− OpEx
−$36.5K −$4.61/SF
NOI
$109.4K $13.82/SF
Area
Buchanan County, MO
Vacancy
20.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$2,187,500
Cap Rate 7%
$1,562,500
Cap Rate 9%
$1,215,278
Alternative Uses
Best Use
Office B
$1.56M
$1.37M – $1.82M
NOI $109,375 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,101 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Explore this area
Business Placement
Demographics for 64506, MO
22,828
Population
9,820
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
2,283
Density / Sq Mi
$61,713
Median Household Income
$38,832
Median Earnings
$908
Median Rent
$220,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 7,912 SF office building leased to Social Security Administration.
Where is this office building located?
The property is located at 3715 Beck Rd Saint Joseph, MO.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Leased to GSA with Social Security Administration tenant, providing stable income.; 15‑year lease term commenced in September 2023, ensuring long‑term tenancy.; 7,912 SF space suitable for the tenant's needs.
