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    245 Un Blvd St St. Louis, MO 63108
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    245 Un Blvd St St. Louis, MO 63108

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    • Office properties & Spaces
    • 6,022 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 245 Un Blvd St

    Property size
    6,022 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional 6,022-square-foot single-tenant office space presents a unique opportunity in the vibrant City of Saint Louis. Located on Union Boulevard, this property offers unparalleled street-level visibility and accessibility. Its prime location is immediately adjacent to the newly developed 275 On the Park luxury apartment complex, boasting 400 residential units, ensuring a high volume of foot traffic and potential clientele. The building itself is a traditional office space, perfect for a variety of businesses seeking a prominent location. The entire 6,022 square feet is currently vacant, providing a blank canvas for a new tenant to customize the space to their exact specifications. Convenient surface parking is available directly adjacent to the property, eliminating parking hassles for employees and clients. This location offers easy access to Forest Park, a major St. Louis attraction, further enhancing its appeal and desirability. The property's strategic placement within a revitalized area promises significant growth potential and a strong return on investment. This is an exceptional opportunity to establish a thriving business in a highly sought-after location. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    St. Louis
    County
    City of Saint Louis
    State
    Missouri
    Longitude
    -90.2751
    Latitude
    38.6463

    Comparable in this City

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    • Value Estimation by Request
      2,026 SF

      4054-4056 Lindell Blvd

      OFFICE (GENERAL) • 2,026 SF
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    • Value Estimation
      $1,875,000
      10,767 SF

      3700 Lindell Blvd, Unit 3722

      OFFICE (GENERAL) • 10,767 SF
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    • Value Estimation
      $1,090,000
      12,689 SF

      4511-4513 Frst Park Ave

      OFFICE (GENERAL) • 12,689 SF
      4511-4513 Frst Park Ave, Saint Louis, MO 63108
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    • Value Estimation
      $1,255,000
      14,900 SF

      4312-4348 Olive St

      OFFICE (GENERAL) • 14,900 SF
      4312-4348 Olive St, Saint Louis, MO 63108
      View Details
    • Value Estimation
      $565,000
      5,016 SF

      4631 Delmar Blvd, Unit 4649

      OFFICE (GENERAL) • 5,016 SF
      4631 Delmar Blvd, Saint Louis, MO 63108-1703
      View Details

    Similar Nearby for Sale

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      4,250 SF

      Forest Park Retail Space Available

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      Historic Redevelopment Opportunity in St. Louis

      Unique redevelopment opportunity in Central West End with parking lot.
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      Medical Office Near Hospitals

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      Two-Unit Building Near Central West

      Two-unit building near Delmar and Euclid corridor in St. Louis.
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    • $130,000
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      Prime Development Land in Central West

      Development opportunity in coveted urban neighborhood near Grand Center Arts.
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    Similar Nearby for Lease

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      Office Space For Lease

      Office space available for lease in St. Louis, MO.
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      Mixed-Use District Retail/Office Space

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      Retail/Office Space Near Forest Park

      Street-level retail/office space adjacent to Forest Park.
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      Retail/Office Space with Gated Parking

      Retail or office spaces available with gated parking.
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    245 Un Blvd St
    St. Louis, MO 63108
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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