1122 Town & Country Cmns DrChesterfield, MO 63017

Property Details for 1122 Town & Country Cmns Dr

Year built

1995

Lot size

6.90 AC

Property size (Sq ft)

48,642 SF

Property type

Office properties

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a 48,500-square-foot Class B office building in Town and Country, Missouri. The property, situated on a 6.9-acre lot at 1122 Town & Country Commons Dr, features a mix of creative, medical, and traditional office spaces. Currently 50% occupied by the IRS under a 13-year gross lease (commencing September 1, 2022, and expiring August 31, 2035), offering a substantial 10.8 years of remaining lease term. The building boasts a strong current NOI of $475,000, with a pro-forma NOI projected at $675,000. The asking price is $6,500,000, representing a current cap rate of 7.31% and a pro-forma cap rate of 10.38%. Significant renovations were completed in 2022, including a new roof, HVAC system, parking field, and landscaping. The building includes 5.84 parking spaces per 1,000 square feet and is zoned C. This value-add opportunity allows for significant upside potential by leasing the currently vacant second floor, offering substantial cost savings for a user-occupier while leveraging the existing IRS lease income. The property is offered fee simple with a corporate guarantee on the existing lease. The building consists of two stories and was originally constructed in 1995.

Location Insight

City

Chesterfield

County

St Louis

State

Missouri

Latitude

38.6291

Longitude

-90.5188

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