Renovated 4-Unit
For Sale
$359,900
9216 Central Dr, Saint Louis, MO 63114
Four occupied residential units offer an income-producing multifamily configuration following a substantial renovation.
Property Size2,880 SF
Price / SF$124.97
Days on Market16
Property Features for 9216 Central Dr
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,698
Listing Agency:
Intersection Real Estate
(314) 229-8216
Listed By:
Alex Adank · License #2017007680
(314) 609-9390
Source:
Exprealty
Added: Sep 11
Changed: Sep 20
Last Checked: Sep 24 at 11:15AM
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 Intersection Real Estate
Investment Insights
Based on property information with market context.
This 2,880-square-foot quadplex contains four residential units, each occupied at the time of listing. The property underwent an extensive renovation a little over two years ago, providing a recently updated basis for a multifamily owner.
The asset is identified at 9216 Central Dr in Saint Louis, Missouri. Current occupancy across all four units supports immediate residential income from the existing configuration.
The asset is identified at 9216 Central Dr in Saint Louis, Missouri. Current occupancy across all four units supports immediate residential income from the existing configuration.
Key Highlights
- 2,880‑square‑foot quadplex
- Four residential units
- Extensive renovation completed a little over two years ago
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
$30,798
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
8.56%
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%
$615,960
$616.0K
Cap Rate 7%
$439,971
$440.0K
Cap Rate 9%
$342,200
$342.2K
Market Conditions
NOI Build-Up for 2,880 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
$46.7K $16.20/SF
− Vacancy
−$2.7K −$0.92/SF
EGI
$44.0K $15.28/SF
− OpEx
−$13.2K −$4.58/SF
NOI
$30.8K $10.69/SF
Area
St. Louis County, MO
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$615,960
Cap Rate 7%
$439,971
Cap Rate 9%
$342,200
Alternative Uses
Best Use
Multifamily LT 5
$440.0K
$385.0K – $513.3K
NOI $30,798 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$382.9K
$335.0K – $446.7K
NOI $26,801 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$618.1K
$540.8K – $721.1K
NOI $43,267 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 63114, MO
35,237
Population
15,747
Households
2.2
Avg Household Size
38
Median Age
21%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
4,004
Density / Sq Mi
$52,048
Median Household Income
$37,116
Median Earnings
$1,082
Median Rent
$109,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied residential units offer an income-producing multifamily configuration following a substantial renovation.
Where is this quadplex located?
The property is located at 9216 Central Dr Saint Louis, MO.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 2,880‑square‑foot quadplex; Four residential units; Extensive renovation completed a little over two years ago
