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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This 2,982 sq ft commercial building is located in right off of Page and Woodson near 170, minutes from downtown Clayton and the airport. Previously used as a bar and grill this space could be used for almost any purpose including a dispensary, any retail use or trade, office, contractor warehouse, possible live/work option or could potentially be converted to a multi family property. There is central air and plenty of parking. Zoned C2-Commercial. Property to be sold as-is.
Paying buyers agents 2.70%
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Rare opportunity to purchase a 15,300 sq ft mixed use building in The Grove. A single family home directly behind it located at 4307 Hunt is also available to be purchased as a package. The building on Tower Grove can be purchased without the home on Hunt for $495,000. The home on Hunt can be included for $100,000. The home on Hunt is a 2 bedroom which is approximately 1,040 sq ft and is in move in condition but could also be torn down for an addition to the Tower Grove building and/or a parking lot or sold as a retail 2 bedroom 1 bath home.
Building is comprised of 10,200 sq ft of above ground space with a 5,100 sq ft basement, the top floor is currently five 1,000 sq ft two bedroom apartments with original architectural skylights. The first floor is 5,100 sq ft of commercial space with high ceilings, exposed brick walls and hardwood floors. The building is in need of a full and complete renovation.
There is redevelopment on all four sides of the property with the new Woodword Lofts directly to the south, new construction to the south east, new construction proposed across the street by the Missouri Foundation For Health. Directly to the north there is a new development proposed called Vista Place with a condominium collection of 4 single family homes with 2 lofts. There are new single family homes being built directly to the west.
Building could be potentially nominated to be a historic building which would allow federal and state tax credits, its across the street from a historic district. The property is located in an Opportunity Zone and is one of the last potential renovation projects connecting The Grove neighborhood to the Shaw neighborhood. The Tower Grove building can remain mixed use or has the potential to be converted to five 2,000 sq ft town-homes with private basements, or could be ten 1,000 sq ft 2 bedroom apartments. With rents for new updated 1,000 sq ft 2 bedroom apartments at $1,500 each the building has the potential for $15,000 a month and $180,000 in annual income.
Paying buyers agents 2.50%
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Price reduced! Located a half mile from Forest Park between highway 40 and I-44 this property is highly visible on Hampton is seen by 30,000 cars per day. Features private offices, 2 bathrooms, a break room, a conference room and a large open warehouse area in the rear. This turn-key move-in ready property is 3500 sq ft and has 16 parking spots in the rear. Ideal space for a construction company or any trade that requires a warehouse or storage. A potential creative space with tall ceilings, concrete floors and over-sized windows. The warehouse could also be used as additional office space. Property is currently leased for $3,000 per month and $36,000 annually with an owner option to move the tenant out. Roof was recently replaced. Owner is a licensed agent. Priced at $85ft, seller is firm on the price.
Paying buyers agents 2.50%
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Opportunity to purchase a 2,500 square foot commercial building located in University City that is walking distance to The Loop. This building has two storefronts each with their own basements. There is a large parking lot attached to the building that has 20+ parking spots. The roof is approximately 2-3 years old, the building features solar panels which were installed at the same time as the roof which powers the electric to the building, the electric bill is only $25 a month. One tenant pays $1,100 a month and is month to month and the other tenant is paying $850 and is on a 3 year lease. Annual income for the building is $23,400 a year, owner paid monthly expenses total $5,676 a year for a net income of $17,724 which is a 10.1 % cap rate.
Paying buyers agents 2.7%
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Back on market at no fault of seller. Central West End commercial redevelopment opportunity. Prime location next to St Louis University and Cortex. 15,132 SF Building (3 floors @5,044 each). Potential uses include multi-family student housing, office space, co-working, micro-apartments, mixed-use. Location, high rents for student housing make this an attractive conversion. Spec drawings and renderings available for 18 apartments with (15) one-bedroom and (3) two-bedroom apartments. Market rent for updated 1 beds close by renting for $890-$1,370 and 2 beds from $1,195 to $1,795 there is the potential for $16,935-$25,935 in gross monthly income and $203,220-$311,220 in annual gross income depending on finishes, amenities. With 40% expense/vacancy of the gross rent net income could range from $121,932-$186,732 annually. Located in an opportunity zone. Rear parking lot w/ 12 spaces. Also available for $295,000 is an adjacent parking lot at 3909-11 West Pine with approximately 33 parking spots.
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