$1,750,000
$1,775,000
1.4%For more information regarding the value of a property, please contact us for a free consultation.
36,570 SqFt
SOLD DATE : 05/31/2023
Key Details
Sold Price $1,750,000
Property Type Commercial
Sub Type Unimproved Land
Listing Status Sold
Purchase Type For Sale
Square Footage 36,570 sqft
Price per Sqft $47
Subdivision Quisinberry Estate
MLS Listing ID 22031999
Sold Date 05/31/23
Year Built 1976
Annual Tax Amount $58,989
Lot Size 2.220 Acres
Acres 2.22
Lot Dimensions 0277 / 0277 - 0344 / 0353
Property Sub-Type Unimproved Land
Property Description
SELLER FINANCING AVAILABLE!
The Northwest Executive Centre is just off of Highway I-70 & St. Charles Rock Rd which provides great exposure and ease of access for tenants. The investment is priced at a 11.11% pro forma cap rate providing huge upside for investors.
The Northwest Executive Centre (NWEC) in Bridgeton is a 36,570 SF office building, consisting of twenty-four office suites situated on 2.2 acres. Due to the large size of the site, there is potential to add an additional building which will substantially increase the value of the property. The NWEC building has a membrane roof that was installed within the last 10 years, along with the parking lot that was re-paved around the same time period.
There are multiple value add opportunities with this property. The majority of the leases are leased at below market rates. Investors can raise lease rates over time as new tenants sign or old tenants renew. Location: Hwy/Interstate Frntg
Location
State MO
County St. Louis
Area 5 - North
Interior
Heating Natural Gas, Forced Air
Cooling Central Air, Electric
Fireplace N
Exterior
Parking Features false
Utilities Available Electricity Available, Natural Gas Available, Water Available, Sewer Available
View Y/N No
Roof Type Flat
Building
Lot Description Sprinklers In Front, Sprinklers In Rear
Sewer Public Sewer
Water Public
Structure Type Other
Others
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
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