Press Releases
Marcus & Millichap Arranges $6.3M Sale of St. Louis Medical Office Property
July 07, 2025
ST. LOUIS, July 7, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 5500 S. Broadway St., a 62,856-square-foot medical office property in St. Louis, Missouri, for $6.3 million.
“The sellers, a local husband-and-wife ownership group, saw an opportunity to pass the property on to an operator with a mission-driven vision,” said Dan Yozwiak, managing director investments. “The buyer plans to renovate and repurpose the building as a behavioral health center, which not only activates a previously unused asset but also supports growing community needs. It’s a strong match in a market showing solid momentum, particularly as behavioral health providers expand their footprint in the St. Louis metro area.”
Yozwiak and Darpan Patel, investment specialists in Marcus & Millichap’s Columbus office, represented the buyer in this transaction. Dave Saverin is the firm’s broker of record in Missouri.
The property was built in 2001 and previously operated as the Riverview Nursing Facility. The 1.2-acre site offers panoramic views of the Mississippi River and downtown St. Louis, and is located 1.5 miles from Carondelet Park and the Carondelet Park Rec Complex.
“The sellers, a local husband-and-wife ownership group, saw an opportunity to pass the property on to an operator with a mission-driven vision,” said Dan Yozwiak, managing director investments. “The buyer plans to renovate and repurpose the building as a behavioral health center, which not only activates a previously unused asset but also supports growing community needs. It’s a strong match in a market showing solid momentum, particularly as behavioral health providers expand their footprint in the St. Louis metro area.”
Yozwiak and Darpan Patel, investment specialists in Marcus & Millichap’s Columbus office, represented the buyer in this transaction. Dave Saverin is the firm’s broker of record in Missouri.
The property was built in 2001 and previously operated as the Riverview Nursing Facility. The 1.2-acre site offers panoramic views of the Mississippi River and downtown St. Louis, and is located 1.5 miles from Carondelet Park and the Carondelet Park Rec Complex.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
