Mixed-Use Property with Hair
For Sale
$449,000
Pending
1615 S 9th Street St, Louis, MO 63104
MULTI_FAMILY - Other - St Louis, MO
Property Size3,600 SF
Lot Size0.06 Acres
Days on Market58
Property Features for 1615 S 9th Street St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
2
Full bathrooms
2
Rooms
Dining Room, Bathroom 1, Bathroom 2, Bedroom 1
Parking features
Off Street
Window features
Blinds, Skylight(s)
Interior features
Breakfast Bar, Ceiling Fan(s), Dining/Living Room Combo, High Ceilings, Open Floorplan, Recessed Lighting
Appliances
Electric Cooktop, Dryer, Oven, Refrigerator, Washer, Water Heater
Subdivision
Soulards Julia Add
Elementary school
Sigel Elem. Comm. Ed. Center
Middle school
Long Middle Community Ed. Center
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Directions
Take Russell East to 9th street go North past Lafayette go to 1615 S 9th turn left at the front of building and park in lot on beside the build in one of the marked parking spots or any public spot. If you park at a meter please pay or you will get a ticket Probably Wednesday thru Saturday. Just use one of the private parking spots.
Standard status
Pending
APN
0387-06-0026-0
Size
3,600 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4499
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1890
Number of units
3
Flooring type
Tile - Ceramic, Carpet
Building materials
Brick
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(866) 224-1761
Listed By:
Mona Parsley · License #1999080021
(913) 908-8001
Added: Jun 29
Changed: Aug 3
Last Checked: Aug 25 at 6:06PM
MLS# 26036801
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property combines a ground-floor, fully operational hair salon with two upper residential units. The salon is described as equipped and ready to run. The residential level includes two units: one occupied unit and one vacant unit, with the occupied apartment noted as larger. Each unit is described as a one-bedroom layout with one and a half baths, in-unit washer/dryer, and lofted ceilings that create an open feel. Interior features listed include high ceilings, an open floorplan, recessed lighting, ceiling fans, and a dining/living room combination. Heating is forced air and cooling is central air.
The property is located at 1615 S 9th Street in St Louis, MO 63104, within St Louis City. The brick building was built in 1890 and sits on a lot size of 0.0551 acres. Off-street parking is provided, including nine deeded off-street parking spaces. The remarks also describe ownership of half of a side street adjacent to the property and private parking marked with signs beside the building.
Additional utility information includes phone availability, with water from public sources.
The property is located at 1615 S 9th Street in St Louis, MO 63104, within St Louis City. The brick building was built in 1890 and sits on a lot size of 0.0551 acres. Off-street parking is provided, including nine deeded off-street parking spaces. The remarks also describe ownership of half of a side street adjacent to the property and private parking marked with signs beside the building.
Additional utility information includes phone availability, with water from public sources.
Key Highlights
- 0.0551‑acre lot with a 3,600 SF mixed‑use building
- Ground‑floor hair salon described as fully operational and equipped
- Two upper residential units: one occupied and one vacant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,497
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$769,940
$769.9K
Cap Rate 7%
$549,957
$550.0K
Cap Rate 9%
$427,744
$427.7K
Market Conditions
NOI Build-Up for 3,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.3K $16.20/SF
− Vacancy
−$3.3K −$0.92/SF
EGI
$55.0K $15.28/SF
− OpEx
−$16.5K −$4.58/SF
NOI
$38.5K $10.69/SF
Area
St. Louis County, MO
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$769,940
Cap Rate 7%
$549,957
Cap Rate 9%
$427,744
Alternative Uses
Best Use
Retail
$691.8K
$605.4K – $807.1K
NOI $48,428 @ 7.0% cap · market cap 10.79%
Second Best
Mixed Use
$632.6K
$553.5K – $738.0K
NOI $44,279 @ 7.0% cap · market cap 9.86%
Theoretical Best
Office A
$772.6K
$676.1K – $901.4K
NOI $54,084 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 63104, MO
19,317
Population
10,958
Households
1.8
Avg Household Size
34
Median Age
54%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
5,681
Density / Sq Mi
$70,127
Median Household Income
$53,693
Median Earnings
$1,054
Median Rent
$249,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor hair salon plus two upper residential units, supported by off-street parking and central HVAC.
Where is this mixed-use property located?
The property is located at 1615 S 9th Street St Louis, MO.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 0.0551‑acre lot with a 3,600 SF mixed‑use building; Ground‑floor hair salon described as fully operational and equipped; Two upper residential units: one occupied and one vacant
