Investment Overview

Marcus & Millichap is pleased to present the Watson Medical Building located at 3915 Watson Rd located in St. Louis, Missouri ("Property"). The 3-level multi-tenant medical office building is approximately 32,621 gross square feet is situated on approximately 0.78 acres acres land encompassing two parcels. The Proprety was constructed in 1966 and current ownership has self-managed, maintained and made improvements over the years. The building is contructed of wood and red brick masonry exterior. The Property is 72.7% occupied with 8 medical tenants (12 suites total) under Full Service (FS) and Modified Gross (MG) leases. The Property is 22.6% occupied by Mercy Health (S&P: A+ Credit Rating) who recently renewed a 5-year lease through 2031. Current income plus the value-add upside opportunity to lease up the remaining 27.3% available space, push rents, and convert exising FS leases to a lease structure that capture expenses will further enhance returns and reward investors with double digit returns. The Property is situated 5.75-miles southeast of downtown St. Louis just north of Highway 366 ) Chippawa Rd. in the St. Louis Hills and the Linwood Park areas within walking distance to food, retail, banking, office and several commercial services. The Property is 3.75-miles from SSM Health St. Louis University Hospital a 365- bed tertiary-care, academic medical center and Level 1 Trauma Center. St. Louis, Missouri and its surrounding communities has a population of 379,908 within a 5-mile radius. The Property benefits from an average household income of $103,880 and a median home value of $798,936 within 1-mile radius.