4173 Cres Dr StSt. Louis, MO 63129

For Sale
$1,849,000

19-Unit Office Building, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 19-unit, multi-tenant executive office complex located at 4173 Crescent Drive in St. Louis, Missouri, 63129. The property boasts a total of 21,500 net rentable square feet across four, two-story buildings, situated on 2.3 to 2.6 acres of land. Built in 1985, the complex underwent significant renovations in 2022 and 2023, including new roofs in 2024, ensuring modern functionality and curb appeal. Currently enjoying a 95% occupancy rate with 18 tenants under a gross lease structure with 3-year terms and annual market rate rent bumps, the property generates a strong pro-forma NOI of $129,430, representing a 7.00% pro-forma cap rate. The asking price is $1,849,000, translating to a land value of approximately $516,200 per acre. Ample parking is provided with 77 spaces. The property is zoned CB and benefits from a prime location offering excellent visibility and accessibility to major interstates (I-55 and I-64) and prominent retailers like Costco and Target. This presents a compelling owner-user or investment opportunity with significant upside potential. The property's strong tenant base, recent renovations, and strategic location combine to create a highly desirable commercial real estate asset.

Highlights

  • High-visibility location with Interstate access.
  • 95% occupancy rate.
  • Attractive capitalization rate.
  • New roofs installed in 2023.

Property Details for 4173 Cres Dr St

Property type
Other office properties, Office properties
Square Feet
23,000 SF
Class
B
Year Built
1985
Buildings
4
Stories
2
Lot Size (sq. ft)
100,188 SF
Units
19

Location Insight

City
St. Louis
County
St Louis
State
Missouri
Latitude
38.507417302335
Longitude
-90.33569332222
4173 Cres Dr St, St. Louis, Missouri

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4173 Cres Dr St
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