Located in the CWE near Forest Park, St. Louis University, Cortex, and Barnes Hospital. Built in 1897 as a residence for a hardware store owner. Stone and brick construction with stunning architectural detail. 3 stories above ground with a partially finished basement for a total of 4 levels of usable space. Above ground sq. ft. is 4,788, the footprint of the building is 1,596 sq. ft. The building is a total of 6,384 sq. ft. including the basement. The property is zoned commercial. A 4-year tenant occupies the second-floor month to month at $2,350 a month, they would like to stay if possible. Potential uses for the building include a conversion to mixed-use, a live-work space, residential or multi-family.
Priced at $125 per sq. ft. (not including finished basement). There are 9 parking spots in the rear of the building. Costar estimates the rental rate for the property is $18-$21 per square foot. Inquire for a virtual tour of the layout of a building.
The seller is a real estate licensee in the state of Missouri.
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Building Location
Building History
Street Level Tenant: 1st & 2nd Floors – 7,260 SF:
• Turn-key, two-story restaurant ideal for BBQ, Brunch, Burger and
Pizza concepts. Most recently utilized as an Axe Throwing Bar, the
space can also be utilized as an event and/or creative space.
• 1st floor includes 400 sq ft. Separable Storefront with various potential
uses: Coffee, Donuts, Cupcakes, Souvenirs; Ice-cream; Funnel
Cakes, etc.
• 1st floor is fully furnished with 18 tables (72 seats), a bar (10 seats), a
stage, a men’s bathroom (1 toilet and 2 urinals) and a woman’s
bathroom (3 toilets).
• 1st floor has a front patio section that can accommodate an additional
48 seats.
• 2nd floor is fully furnished with 15 tables (60 seats), a bar (6 seats), 4
pool tables (usable as dining/brunch with tabletops: 24 seats), a
men’s bathroom (1 toilet) and a woman’s bathroom (1 toilet).
• Total seating capacity is 220 and maximum capacity is 236.
• Turn-key kitchen with a $30,000 hood.
• The 1s floor front patio/sidewalk is ideal for several large BBQ
smokers.
Lower Level Tenant: 2 Lower Levels – 6,188 SF:
• Beautiful stone-wall space featuring a mezzanine overlooking a lower
level. Most recently used as a music/dance venue, the space is also
ideal for bierhall, wine cellar, event space and performing arts concepts.
• The space has separate entrances from the front and back of the
building.
• Mezzanine level is partial, overlooking the stage and the 1st level,
with 10 booths (40 seats) a bar (10 seats) and 5 tables (20 seats).
• Lower level includes an elevated stage, a bar (12 seats) and an open
floor usable for dancing or or tables (additional 40 seats), a men’s
bathroom (2 toilets and 2 urinals) and a woman’s bathroom (4 toilets).
• Lower level also includes two 100 sq ft. walk-in coolers.
• Total seating capacity is 122 and maximum capacity is 136.
3rd Floor Tenant – 3,630 SF:
• Huge top floor, loft-style apartment overlooking the Arch Grounds, the
Mississippi River, and the Eads Bridge.
• The space features two full bathrooms, an open-floor plan kitchen &
common area and two huge bedrooms with seven beds.
Links:
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4 Units off Hanley Rd in Clayton, MO
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96 Unit Apartment Complex in St. Charles, MO
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320 Recently built storage units available located in Park Hills Missouri on 4.75 acres. These steel units comprising 69,240 total square feet feature a mix of boat and recreational vehicle storage, a large 60×60 storage unit that could be used to run a small business, medium and smaller storage units. The 60×60 unit is climate controlled and the majority of units offer both electricity and lighting. The secure storage facility features an app called spider door which allows for an owner and tenant portal which makes for easy, remote, contactless leasing and access. There has been very little marketing done with this complex which included marketing on facebook, a radio spot and one sign on the property. A future owner marketing with google and additional online advertising along with additional signage, billboards, etc will make a big difference with reaching high occupancy of the facility. There are numerous storage facilities nearby that are at
full capacity with higher rents for similar size storage units. There is the potential to be near $300,000 in gross rent based on 95% of capacity with market rents in the area. Great opportunity to have a large passive income with little management and oversight.
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Opportunity to purchase a value add property located just a short walk to all of the shops and restaurants on S. Grand. Built in 1926 with seven 2-bed apartments, seven 1-bed apartments, 3 studios, and two commercial spaces. There are a number of renovation projects happening close by, with rents continuing to rise in the neighborhood. The commercial spaces are approximately 1,920 sq ft and 1,480 sq ft and would generate approximately $12 per sq ft. The building has been gutted and is ready for rehab. Permits have been previously approved for construction. Projected market rents after renovation are $1,200 for the 2 beds, $900 for the 1 beds, $695 for the studios. The commercial spaces have rent projections of $1,920 and $1,480, respectively. The building has a garage on the lower level for the tenants. There are building plans available to review at https://adobe.ly/40kXHu0. Property needs a full renovation and is being sold as-is.
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Richmond Heights 50 x 158 commercial lot totaling 7,902 sf is located in the Clayton School district. The lot is zoned commercial but could be potentially rezoned to residential 4 unit apartment building or single-family home. The lot is cleared and ready to be built on. Located near St. Marys Hospital, DeMun Neighborhood and Forest Park.
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Commercial investment opportunity in the Grand Center District near SLU for sale only. Property leased long term to daycare operator for $2,500 per month. The 10-year lease from 2016 has increases to $2,650 in 2022 and $2,800 in 2024 and expires in 2026. The buildings and systems were gut renovated approximately 15 years ago and are in good condition. Tenant pays all utilities and operational maintenance costs and owner pays real estate taxes of $4,256, building insurance of $2,154 and any structural or roof maintenance. Annual income is $30,000 with fixed expenses of $6,410 creating a net income of $23,590 which is a 9.8% cap rate minus any potential repairs or maintenance. Tenant is very successful and has perfect payment history. Please do not disturb tenant.
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This parking lot is approximately 33 parking spots just west of St. Louis University campus which is currently rented to the apartment building at 3900 Lindell. The parking lot is currently leased month to month under market rent at $1,500 a month, the amount charged for parking could be raised substantially. 3909-11 West Pine can only be purchased with 3910-12 Lindell which is available for sale for $725,000. There is the potential to purchase and use part of the parking lot at 3909-11 West Pine for parking at 3910-12 Lindell and lease out the remainder of the parking to the apartment building next door. There is also the potential to build a small multi family or to resell the parking lot to a developer or St. Louis University in the future as St. Louis University owns the parking lot directly to the east of 3909-11 West Pine.
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Well maintained retail property located in Midtown just a few blocks west of the future MLS complex, Union Station, Aquarium, Ferris Wheel, Enterprise Center and two blocks east of Chaifetz Arena, St. Louis University. Harris Stowe University is across the street and Wells Fargo campus is located caddy corner to the building with approximately 5,100 employees at that location. Building is 100% occupied, currently setup with five businesses. Two tenants have had leases since 1986 and three tenants that have at least 3 years left on their lease. The dry cleaning business has been in the location since 1986 and is owned by the building owner and can stay and sign a lease. The cleaners are currently taking up 2 bays so there is the potential for 6 bays in the future. The building has a recently replaced roof, recently replaced HVAC and duct work. There are 38 parking spots and the potential to charge for parking for events at Chaifetz Arena, SLU events, future MLS soccer games and Enterprise Center. The 2019 gross rent was $73,369 which does not include any rent from the dry cleaners. With the dry cleaners paying $2,400 a month, the warehouse being rented at a market rate of $1,500 a month and charging $416 a month for parking the gross income would be $114,886 with a net income of $92,435.20 which would be a 10.3% cap rate. There is a recent appraisal of $1,100,000 for the building. All of the tenants survived the Covid shutdown and are paying rent
Paying buyers agents 2.0%
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