St. Louis Warehouse and
For Sale
Contact for pricing
4515-29 N Second Street & 202-210 Douglas St., Saint Louis, MO 63147
Warehouse and distribution space available in St. Louis, Missouri.
Property Size22,604 SF
Price / SF$44.02
Days on Market695
Property Features for 4515-29 N Second Street & 202-210 Douglas St.
General Information
Standard status
Active
Size
22,604 SF
Class
B
Property subtype
Industrial
Lease Type
Modified Gross
Building Details
Tenancy
Single
Listing Agency:
Hilliker Corporation
(314) 781-0001
Listed By:
A. William Aschinger · License #MO 1999057422
Source:
Crexi
Added: Oct 5, 2024
Changed: Aug 16
Last Checked: Aug 29 at 1:02PM
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 Hilliker Corporation
Investment Insights
Based on property information with market context.
This commercial property in St. Louis, Missouri, offers warehouse and distribution space. The property, with a size of 22604 square feet, is suitable for businesses seeking such facilities.
Key Highlights
- Warehouse/Distribution Space
- Exceptional Value
- Suitable for Business Use
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
$89,607
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
9.01%
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%
$1,792,140
$1.8M
Cap Rate 7%
$1,280,100
$1.3M
Cap Rate 9%
$995,633
$995.6K
Market Conditions
NOI Build-Up for 22,604 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
$134.0K $5.93/SF
− Vacancy
−$6.0K −$0.27/SF
EGI
$128.0K $5.66/SF
− OpEx
−$38.4K −$1.70/SF
NOI
$89.6K $3.96/SF
Area
St. Louis County, MO
Vacancy
4.50%
Lease Rate
$5.93 /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%
$1,792,140
Cap Rate 7%
$1,280,100
Cap Rate 9%
$995,633
Alternative Uses
Best Use
Office B
$3.94M
$3.45M – $4.60M
NOI $275,847 @ 7.0% cap · market cap 27.72%
Second Best
Warehouse
$1.55M
$1.36M – $1.81M
NOI $108,808 @ 7.0% cap · market cap 10.94%
Theoretical Best
Office A
$4.85M
$4.24M – $5.66M
NOI $339,585 @ 7.0% cap · market cap 34.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 63147, MO
8,499
Population
4,542
Households
1.9
Avg Household Size
44
Median Age
12%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
1,441
Density / Sq Mi
$39,119
Median Household Income
$27,956
Median Earnings
$926
Median Rent
$70,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mobil Mini — 3966 N Broadway, St. Louis, MO 63147
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse and distribution space available in St. Louis, Missouri.
Where is this warehouse located?
The property is located at 4515-29 N Second Street & 202-210 Douglas St. Saint Louis, MO.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Warehouse/Distribution Space; Exceptional Value; Suitable for Business Use
