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    2900 Market

    St Louis, MO 63103
    • $895,000
    • STATUS: Active
    • ON SITE: 54 days
    • ID#: 20070019
    UPDATED: 18 min ago
    $895,000
    • 0
      BEDS
    • 0.66
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,751
      SQFT
    • $76
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1964
    County:
    Area:

    School Ratings & Info

    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.

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    Listing information © 2020 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2020-11-29T16:48:48.363.

    Keller Williams Realty West: 636-229-8583
    www.searchallstlouishomes.com/homes/110693858
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    2900 Market St Louis, MO 63103

    • Price: $895,000
    • Status: Active
    • Updated: 18 min ago
    • ID#: 20070019
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.66
    Acres
    11,751
    SQFT
    $76
    $/SQFT
    1964
    Built
    Neighborhood:
    Mill Creek Valley
    County:
    St Louis City
    Area:
    Downtown
    Property 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.
    Exterior Features

    Building Type 1 StoryRetail Strip Center Exterior BrickConcrete/Block Land Info Available Parking Description Parking Lot Parking Spaces 38 Road Access City Street Road Frontage 353 Roof Flat Unit Location CityHigh TrafficRetail Center

    Interior Features

    Cooling Wall Unit(S)Central-Gas Heating Forced Air Interior Walls Drywall

    Property Features

    Association St. Louis Association of REALTORS Building Fuel Gas Commercial Property Type Retail Conditions Unknown Cross Street Address Ewing Current Use RetailWarehouse Disclosures Sellers Discl. Avail Docs Avail At Office Aerial Photo Electric Service 220 V Gross Operating Income 0.00 Lease Terms More Than 3 Years Lot Size Source County Records Net Income 0.00 Offering Sale Operating Expense Common Area MtceElectricityMaintenanceProperty InsuranceReal Estate TaxWater & Sewer Possession At Closing Possible Buyer Fees YN No Potential Use Food/Bev/RestaurantProfessional ServiceRetail OperationStrip Center Sale Includes Building & Land Selling Terms CashConventional Sewer Public Special Description Rehabbed Special Listing Conditions None Square Footage Source County Records Tax Exempt 0 Tax Year 2019 Taxes Paid 12546 Total Expenses 0.00 Utilities Available CableElectricGasWaterSewer Water Public Zoning J

    Listing provided courtesy of Invest St. Louis. Listing information © 2020 Mid America Regional Information Systems, Inc.
    Listing information © 2020 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2020-11-29T16:48:48.363.

    Keller Williams Realty West: 636-229-8583
     
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    Keller Williams Realty West
    856 Waterbury Falls Drive
    O'Fallon MO, 63368