$895,000

2900 Market

St Louis MO, 63103

Description

11,751 SF retail property located in Midtown a few blocks from the future MLS complex, Aquarium, Chaifetz Arena, St. Louis University. 100% occupied, currently setup with five businesses. 2 tenants have had leases since 1986 and 3 tenants have at least 3 years left on their lease. Cleaning business in the location since 1986 is owned by the building owner and can stay and sign a lease. Cleaners are currently taking up 2 bays so there is the potential for 6 bays in the future. Building has a recently replaced roof, recently replaced HVAC and duct work. 38 parking spots with potential to charge for parking for events at Chaifetz, SLU, MLS. 2019 gross rent was $73,369 which does not include rent from the dry cleaners. With cleaners paying $2,400 a month, warehouse 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 $92,918, a 10.3% cap rate. All tenants survived the Covid shutdown and are paying rent.

Details

MLS#20070019
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1964
Days On Site58

Features

SQ Feet11,751
Story(s)1
ZoningJ

Market Activity 63103

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Area Information
StateMO
CountySt Louis City
CitySt Louis
Zip Code63103
AreaDowntown
Listing VS Median (in 63103)
Price:
$895,000
low | high
Med:
$1,032
100% of Average
SqFt:
11,751
low | high
Med:
0
100% of Average
$ / SqFt:
$76
low | high
Med:
$0
100% of Average
On Site:
58
low | high
Med:
467
12.419700214133% of Average
Listing Updated: December 1, 2020 8:25:53 PM PST
Jordan Schoen LogoMLS Number: 20070019
Listing Provided By:
Jordan Schoen  of  Invest St. Louis