1122 Town & Country Cmns Dr Chesterfield, MO 63017
- Office Properties & Spaces
- 48,642 SF
- 6.90 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 1122 Town & Country Cmns Dr
- Year built
- 1995
- Lot size
- 6.90 lot acres
- Property size
- 48,642 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents a 48,500-square-foot Class B office building in Town and Country, Missouri. The property, situated on a 6.9-acre lot at 1122 Town & Country Commons Dr, features a mix of creative, medical, and traditional office spaces. Currently 50% occupied by the IRS under a 13-year gross lease (commencing September 1, 2022, and expiring August 31, 2035), offering a substantial 10.8 years of remaining lease term. The building boasts a strong current NOI of $475,000, with a pro-forma NOI projected at $675,000. The asking price is $6,500,000, representing a current cap rate of 7.31% and a pro-forma cap rate of 10.38%. Significant renovations were completed in 2022, including a new roof, HVAC system, parking field, and landscaping. The building includes 5.84 parking spaces per 1,000 square feet and is zoned C. This value-add opportunity allows for significant upside potential by leasing the currently vacant second floor, offering substantial cost savings for a user-occupier while leveraging the existing IRS lease income. The property is offered fee simple with a corporate guarantee on the existing lease. The building consists of two stories and was originally constructed in 1995.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chesterfield
- County
- St Louis
- State
- Missouri
- Longitude
- -90.5188
- Latitude
- 38.6291
