Contacts
Cardinal Realty Group
CCIM
Property Details
- Property Type Mixed Use
- Property Size 48,072 SF
- Lot Size 19,515 SF
- Cap Rate % 6.92
- Rental Income / YR $115,620.00
- NOI / YR $61,609.00
- Taxes / YR $3,131.00
- Zoning H-Area Commercial
- Additional Rent Contact for pricing
- # of Floors 3
- Property Tenancy Multi-Tenant
- Building Class D
- Year Built 1925
- Date Updated Sep 17, 2024
Fantastic Investment Development Opportunity in St. Louis Mo. This 48,072 SF 3-story was constructed in 1925-1926 in the Classical Revival style brick combination for commercial and residential use, with the 1st Floor as Retail, 2nd floor with 12 offices, 3rd floor with 13 Studio and 2-One Bedroom apartments, and a 15-lane bowling alley in the basement. The building has two primary elevations – one facing Grand Blvd. (west) and one facing St. Louis Avenue (south). Each of these elevations bears detailed terra cotta embellishments and Egyptian-influenced columns on the exterior façade making this a landmark commercial property. Currently, there are 12 month-to-month tenants on the first floor generating $121,620 of income annually and the 2nd and 3rd floors are vacant. The owner has development plans to keep the first floor as retail and convert the 2nd and 3rd floors into 50 senior housing units with additional space in the first floor and basement used as ancillary uses supporting the senior housing.
This is an excellent opportunity to redevelop a cash-flowing property utilizing the tax credits and other incentives available either for senior housing or other uses complementing the $1.33 million dollar community development center located across from N Grand on the former Carter Carburetor Superfund Site.
Reach out to the broker for more info on lease terms and amenities
Highlights
- New $1.33 Million Dollar Sports (PGA) Development across the Street
- Tax Credits available in the Lindell Park Historic District
- One-Mile north of Grand Center
Getting around
-
71/100
Walk Score ®
-
42/100
Transit Score ®
-
61/100
Bike Score ®
Location
- City Saint Louis, MO
- Neighborhood Jeff Vanderlou
- Zip Code 63107
- Market St Louis
Points of Interest
-
Union Station - Elevator Access
2.09 miles
-
Union Station
2.10 miles
-
Union Station - Stair Access
2.11 miles
-
St. Louis - Gateway Station
2.32 miles
-
8th & Pine
2.42 miles
-
Forest Park - DeBaliviere Metrolink
3.53 miles
-
Missouri History Museum/Forest Park
3.59 miles
-
The Wild Station
3.91 miles
-
Delmar Loop Metrolink
3.98 miles
-
Delmar Loop
4.00 miles
-
BP
0.45 miles
-
Mobil
0.48 miles
-
Crown
0.71 miles
-
Phillips 66
1.29 miles
-
Energy Express Travel Center
1.58 miles
-
ChargePoint
1.79 miles
-
EV Connect
2.45 miles
-
Tesla Supercharger
3.24 miles
-
EVgo Charging Station
3.90 miles
-
Electric Car Charging Station
6.09 miles
-
Fox theater parking garage
1.23 miles
-
Scottish Rite Garage
1.35 miles
-
Olive Compton Parking Garage
1.40 miles
-
Canisius Lot
1.41 miles
-
Lot 5
1.47 miles
-
Lot 6
1.51 miles
-
Lot 7
1.56 miles
-
Olive Street Parking Garage
1.57 miles
-
Regis Lot
1.58 miles
-
Scranton Lot
1.58 miles
-
Grand Motel
0.16 miles
-
Guest Host Motel
0.35 miles
-
Economy Inn Motel
0.91 miles
-
Angad Arts Hotel
1.22 miles
-
Hotel Ignacio
1.33 miles
-
Days Inn by Wyndham Downtown St. Louis
1.55 miles
-
Pear Tree Inn Union Station
1.72 miles
-
Element St. Louis Midtown
1.76 miles
-
Courtyard Downtown
1.78 miles
-
Fairfield Inn & Suites St. Louis Downtown
1.80 miles
-
ALDI
0.42 miles
-
Save-A-Lot
0.73 miles
-
99+
0.86 miles
-
Saveway Food Market
1.67 miles
-
Schnucks
1.71 miles
-
Fields Foods
1.76 miles
-
Fresh Thyme
1.77 miles
-
St. Louis Union Station
1.97 miles
-
Salama Supermarket
2.02 miles
-
Target
2.11 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
Cardinal Realty Group
CCIM
