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

    2340 Millpark Dr Maryland Heights, MO 63043-3530

    • Retail space
    • 117,435 SF
    • 7.58 lot acres
    OFF-MARKET
    Last Sale
    Sep 09, 2022
    $8,500,000
    Value Estimations
    $10,275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-0441293
    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

    • Retail space

    Property Details for 2340 Millpark Dr

    Year built
    1995
    Construction
    WOOD
    Lot size
    7.58 lot acres
    Property size
    117,435 SF
    Zone code
    104M-1
    Property type
    Retail space
    APN
    15N-6-4-008-9
    APU
    15N640089

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,060,000
      ML approach
      $9,390,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,925,000
      Market price range: $7.00M - $11.4M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $9,530,000
      Current use
      AUTO REPAIR, GARAGE
      $16,690,000
      Change: +75% Conversion: Difficult
      OFFICE BUILDING
      $14,320,000
      Change: +50% Conversion: Easy
      MEDICAL BUILDING
      $14,270,000
      Change: +50% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $11,680,000
      Change: +23% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $9,350,000
      Change: -2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $9,275,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Maryland Heights
    County
    St. Louis
    State
    Missouri
    Longitude
    -90.4158
    Latitude
    38.7006
    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
    $281,936
    $422,620
    $2,297,380
    $2,720,000
    -
    $1,320,700
    $7,179,300
    $8,500,000

    Comparable in this City

    • Value Estimation
      $330,000
      1.93 Acres

      12520 Prichard Farm Rd

      RETAIL STORES (PERSONAL SERVICES) • 1.93 Acres
      12520 Prichard Farm Rd, Maryland Heights, MO 63043
      View Details
    • Value Estimation
      $795,000
      12.08 Acres

      13975 Riverport Pl Dr

      RETAIL STORES (PERSONAL SERVICES) • 12.08 Acres
      13975 Riverport Pl Dr, Maryland Heights, MO 63043-4850
      View Details
    • Value Estimation
      $895,000
      14.66 Acres

      13965 Riverport Pl Dr

      RETAIL STORES (PERSONAL SERVICES) • 14.66 Acres
      13965 Riverport Pl Dr, Maryland Heights, MO 63043-4848
      View Details
    • Value Estimation
      $315,000
      3,002 SF

      11429 Dorsett Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,002 SF
      11429 Dorsett Rd, Maryland Heights, MO 63043-3413
      View Details
    • Value Estimation
      $290,000
      13,455 SF

      2400 Drilling Service Dr

      RETAIL STORES (PERSONAL SERVICES) • 13,455 SF
      2400 Drilling Service Dr, Maryland Heights, MO 63043-3511
      View Details
    • Value Estimation
      $340,000
      3,960 SF

      6 Sally Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,960 SF
      6 Sally Dr, Maryland Heights, MO 63043-3416
      View Details

    Similar Nearby for Sale

    • $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
    • $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
    • $600,000
      2.63 Acres

      Dorsett Road Commercial Land Parcel

      Prime 2.63-acre commercial lot, high visibility.
      11737 Dorsett Rd, Maryland Heights, MO 63043
      View Details
    • $1,000,000
      9,504 SF

      Industrial Building with Renovated Office

      9,504 SF industrial building with renovated mezzanine office space.
      11445 Warnen Rd, Maryland Heights, MO 63043
      View Details
    • $4,425,000
      45,868 SF

      Maryland Heights Warehouse Investment Opportunity

      Fully leased warehouse near I-270 and Page Avenue.
      2462-2470 Schuetz Rd, Maryland Heights, MO 63043
      View Details
    • $74,900
      0.33 Acres

      Residential Lot in Maryland Heights

      0.326 acre residential lot ready to build on.
      2727 Edgeworth Ave, Maryland Heights, MO 63043
      View Details

    Similar Nearby for Lease

    • $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
    • Contact for pricing
      2,700 SF

      Retail Space with Dock Loading

      2,700 SF retail space with high visibility and dock.
      11970-11994 Dorsett Rd, Maryland Heights, MO 63043
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Maryland Heights

      Retail spaces available in an anchored shopping center.
      12626-12676 Dorsett Rd, Maryland Heights, MO 63043
      View Details
    • $6 SF/Yr
      13,300 SF

      Office/Showroom Space with I-270 Visibility

      4,200 SF office/showroom space available for sublease.
      2466-2488 Old Dorsett Rd, Maryland Heights, MO 63043
      View Details
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    2340 Millpark Dr
    Maryland Heights, MO 63043-3530
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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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