Commercial Land for Sale in Mehlville, Missouri
4173 Crescent Dr Mehlville, MO 63129
PRICE REDUCTION -NEW ROOFS - NEW Landscaping and Window Screens -
The Southport Office Park located in the heart of Saint Louis at 4173 Crescent Drive. The Southport Office Park consist of
4 separate buildings, two stories each for a total of 28,311 SF of office space.
The offices were originally built in 1985 and are 90% leased with a very diverse tenant group which includes; Family Care center, Strategic Technology Group LLC, BKR Design, American Family insurance, Adriatic Home Health LLC, Farmers , Kirkendall Dwyer Law firm, Empowered Health, Forget Me Not Senior Services, Compassionate Health Care of STL, True Vine Counseling Services, and Developing Resource Partners.
The Southport Office Complex at 4173 Crescent Drive is being offered at an outstanding basis of $80 per square foot and an in-place cap rate of 8%. With an average weighted lease term of 3 years, below market rent, and 90% occupancy, it offers new ownership significant value-add potential. With new landscaping and window seals along with New Roofs in 2023 this Office complex is ready to cash flow upon purchase.
Property details
- County
- Saint Louis County
- Elevation
- 577 feet
- MLS Number
- BDAOR 3562247
- Date Posted
Legal description
8 27 85 CRECELIUS LOT PT 2 (RD DEDI)
Parcels
- 29621099
Property taxes
- 2023
- $44,989
Resources
Detailed attributes
Listing
- Type
- Commercial Sale
- Subtype
- Office
Structure
- Materials
- Block, Brick
- Heating
- Forced Air
Exterior
- Parking Spots
- 70
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| June 11, 2024 | Price drop | $1,849,000 | $141,000 -7.1% | BDAOR |
| May 29, 2024 | New listing | $1,990,000 | — | BDAOR |