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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15 Progress Pkwy Maryland Heights, MO 63043-3701

    • Turn key restaurants
    • 5,568 SF
    • 1.24 lot acres
    OFF-MARKET
    Last Sale
    Jun 05, 2023
    $3,800,000
    Value Estimations
    $3,510,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-1448062
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 15 Progress Pkwy

    Year built
    2019
    Lot size
    1.24 lot acres
    Property size
    5,568 SF
    Zone code
    104M-1
    Property type
    Turn key restaurants
    APN
    15O-6-3-033-1
    APU
    15O630331

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,635,000
      ML approach
      $3,770,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,140,000
      Market price range: $542k - $3.17M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Maryland Heights
    County
    St. Louis
    State
    Missouri
    Longitude
    -90.4465
    Latitude
    38.7035
    CBSA code
    41180
    CBSA name
    ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $70,419
    $173,540
    $478,370
    $651,910
    -
    $542,300
    $1,494,900
    $2,037,200

    Comparable in this City

    • Value Estimation
      $1,725,000
      2,814 SF

      11938 Dorsett Rd

      RESTAURANT • 2,814 SF
      11938 Dorsett Rd, Maryland Heights, MO 63043-2506
      View Details
    • Value Estimation
      $850,000
      2,914 SF

      2060 Mckelvey Rd

      RESTAURANT • 2,914 SF
      2060 Mckelvey Rd, Maryland Heights, MO 63043-2308
      View Details
    • Value Estimation
      $360,000
      2,932 SF

      12730 Dorsett Rd

      RESTAURANT • 2,932 SF
      12730 Dorsett Rd, Maryland Heights, MO 63043-2132
      View Details
    • Value Estimation
      $865,000
      4,135 SF

      12222 Dorsett Rd

      RESTAURANT • 4,135 SF
      12222 Dorsett Rd, Maryland Heights, MO 63043-2408
      View Details
    • Value Estimation
      $365,000
      11,327 SF

      12710 Dorsett Rd

      RESTAURANT • 11,327 SF
      12710 Dorsett Rd, Maryland Heights, MO 63043-2132
      View Details
    • Value Estimation
      $280,000
      1,600 SF

      12215 Dorsett Rd

      RESTAURANT • 1,600 SF
      12215 Dorsett Rd, Maryland Heights, MO 63043-2407
      View Details

    Similar Nearby for Sale

    • $1,000,000
      5,300 SF

      Stand-Alone Flex Building For Sale

      5,300 SF flex building with freezer/cooler and commercial kitchen.
      11136 Dorsett Rd, Maryland Heights, MO 63043
      View Details
    • $750,000
      7,932 SF

      Maryland Heights Retail/Auto Shop Building

      7,932 SF building on 0.65 acres, ideal for retail/auto.
      11721 Dorsett Rd, Maryland Heights, MO 63043
      View Details
    • $3,361,500
      24,900 SF

      Industrial Property with Fenced Storage

      24,900 SF industrial property with fenced outside storage.
      11436-11440 Schenk Dr, Maryland Heights, MO 63043
      View Details
    • $199,000

      Commercial Land on Dorsett Road

      Commercial land with high visibility and redevelopment potential.
      11700 Dorsett Rd, Maryland Heights, MO 63043
      View Details
    • $699,000
      4,906 SF

      Architecturally Interesting Office Building

      Office building with separate entrance, parking, and full finished basement.
      11144 Dorsett Rd, Maryland Heights, MO 63043
      View Details
    • $3,800,000
      49,950 SF

      Westport Industrial Warehouse

      50,000 SF Warehouse, $3.8M
      11675 Fairgrove Industrial Blvd, Maryland Heights, MO 63043
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      11,500 SF

      Maryland Heights Flex Space Available

      Office, warehouse, and commissary kitchen with outside storage.
      2331 Millpark Dr, Maryland Heights, MO 63043
      View Details
    • Contact for pricing
      71,980 SF

      Dorsett Square Retail Space

      Maryland Heights retail space available.
      12632 Dorsett Rd, Maryland Heights, MO 63043
      View Details
    • $7 SF/Yr
      30,000 SF

      Fee Fee Road Warehouse Space

      Prime Maryland Heights warehouse, 1,250 sq ft available.
      342 Fee Fee Rd, Maryland Heights, MO 63043
      View Details
    • $12 SF/Yr
      2,418 SF

      Renovated Retail Space Available

      Newly renovated retail space with open floor plan.
      188 Weldon Pkwy, Maryland Heights, MO 63043
      View Details
    • $1,000 /Mo
      1,000 SF

      Retail Space For Lease

      1,000 SF retail space available in Maryland Heights, MO.
      1 Midland Ave, Maryland Heights, MO 63043
      View Details
    • Contact for pricing
      1,970 SF

      Retail Space Near I-270

      Retail space with high visibility and traffic counts available for rent.
      12201-12211 Dorsett Rd, Maryland Heights, MO 63043
      View Details

    Property Visit Statistics

    • Visits by month
      24.4k
    • Visitors by month
      15.3k
    • Avg Time on site
      26 min
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    15 Progress Pkwy
    Maryland Heights, MO 63043-3701
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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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