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2495-2499 Raymond Dr

6,000 SF 66% Leased Office Building Saint Charles, MO 63301 $650,000 ($108/SF) 7.34% Cap Rate

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Investment Highlights

2,000 sf of office/retail is available NOW for an owner user and Lease the 4,000 sf to the State of Missouri. 2,000sf is available for Lease
4,000 sf has been Leased to the State of Missouri for a Drivers Testing facility since 1996!
St. Charles License Office recently vacated the 2,000 sf after many years of occupancy (at $24.00/sf Modified Gross)

6,000 sf brick building available for sale and or Lease.
Both of the 4,000 sf and the 2,000 sf units are all electric and have separate electric meters

Executive Summary

This two unit brick exterior building on Raymond Dr. in St. Charles offers a newer roof, quick and easy access to I-70 and Hwy 370.2495 Raymond Dr.: 4,000 sf of office space was built in 1985 is leased to the State of Missouri's for $9.32/sf Modified Gross, or $37290/Year. 2499 Raymond Dr.: 2,000 sf of office space was built in 2007 is AVAILABLE NOW to an owner user or Tenant at a Lease Rate of $18.00/sf Modified Gross. The Income and expenses shown herein were for Year Ending in 2023.Cap Rate is based on 2023 Expenses and at current asking Lease Rate of $18.00/sf Modified Gross.

Client_Flyer8870

Financial Summary (Actual - 2023)	Annual	Annual Per SF
Gross Rental Income	$85,290	$14.22
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$85,290	$14.22
Taxes	$11,709	$1.95
Operating Expenses	$13,841	$2.31
Total Expenses	$25,550	$4.26
Net Operating Income	$59,740	$9.96

Financial Summary (Actual - 2023)

Gross Rental Income
Annual	$85,290
Annual Per SF	$14.22

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$85,290
Annual Per SF	$14.22

Taxes
Annual	$11,709
Annual Per SF	$1.95

Operating Expenses
Annual	$13,841
Annual Per SF	$2.31

Total Expenses
Annual	$25,550
Annual Per SF	$4.26

Net Operating Income
Annual	$59,740
Annual Per SF	$9.96

Property Facts

Sale Type

Investment or Owner User

Property Type

Office

Property Subtype

Loft/Creative Space

Building Size

6,000 SF

Building Class

Year Built

1985

Price

$650,000

Price Per SF

$108

Cap Rate

7.34%

NOI

$47,742

Percent Leased

66%

Tenancy

Multiple

Building Height

1 Story

Typical Floor Size

6,000 SF

Building FAR

0.16

Land Acres

0.87 AC

Zoning

Commercial - C-3 Zoning in St. Charles allows for variety of commercial uses. The State of Missouri's Drivers Testing facility draws many people to this location.

Parking

55 Spaces (9.17 Spaces per 1,000 SF Leased)