Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2902-2906 Cherokee St St Louis, MO 63118

    Sponsored
    For Sale
    $650,000

    Residential Income, Traditional - St Louis, MO

    Property size:
    7,112 SF
    Lot size:
    0.18 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 23 at 11:06 am

    Property Features for 2902-2906 Cherokee St St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    APN
    1576-00-0240-0
    Parking features
    Off Street
    Exterior features
    Level, Fencing
    Fencing
    Fenced
    Fireplace
    1
    Basement Y/N
    1
    Size
    7,112 SF
    Lot size
    0.18 Acres

    Utilities

    Heating system
    Electric (Heating), Fireplace(s), Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1898
    Floors in Building
    2
    Building materials
    Stone
    Roof type
    Flat
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Lance Appleby

    EXP Realty, LLC (913) 908-8001

    Listing agent Lance Appleby (866) 224-1761 License #2016000902

    Listing date Feb 21, 2026

    MLS# 26009836 Listing URL

    Copyright © 2026 MARIS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Cherokee Street Multifamily Investment

    This 7,000+ sqft residential income property features six units, each with a consistent floorplan of two bedrooms and one bathroom. Each unit has front and rear access, with covered porches overlooking a fenced backyard. Modern amenities include double pane windows, forced air heat, and central AC. The property also features a new roof planned for '26, two off-street parking spaces, and three separate basements providing laundry capability and options for tenant storage. Located just off Cherokee Street in South St. Louis, the property benefits from proximity to a culturally vibrant corridor known for its retail, dining, and arts district. The property is located on a 0.1763-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Louis
    County
    St. Louis
    State
    Missouri
    Longitude
    -90.232641
    Latitude
    38.593919

    Nearby Similar for Sale

    • $1,000,000
      5,073 SF

      Lafayette Square Victorian Compound

      Four units in historic Lafayette Square, St. Louis.
      1815 Lafayette Ave St, Louis, MO 63104
      View Details
    • $4,500,000
      27,706 SF

      Historic Multifamily Property in Soulard

      Fully occupied multifamily property in the heart of Soulard.
      900 Allen Ave St, Louis, MO 63104
      View Details
    • $159,900
      2,352 SF

      Historic Mixed-Use Gem in St. Louis

      1908 brick masterpiece with commercial potential near Highway 55.
      2801 Itaska St St, Louis, MO 63111
      View Details
    • $449,900
      0.08 Acres

      Mixed-Use Property with Restaurant Space

      Mixed-use property with restaurant and residential opportunity in St. Louis.
      1325 Hampton Ave St, Louis, MO 63139
      View Details
    • New
      $492,500
      2,088 SF

      Soulard Three-Family Investment Opportunity

      Turnkey, fully renovated three-family property in the heart of Soulard.
      2211 Menard St St, Louis, MO 63104
      View Details
    • $275,000
      2,616 SF

      Turn-Key Duplex in South City

      Spacious duplex with original features, steady income, and prime location.
      3627 Lafayette Ave St, Louis, MO 63110
      View Details
    • $510,000
      3,942 SF

      Updated Four-Family Building Near Park

      Updated 4-unit building near Carondelet Park, St. Louis.
      3683 Montana St St, Louis, MO 63116
      View Details
    • $1,250,000
      19,473 SF

      Versatile Commercial Building on Gravois Road

      Adaptable commercial property in central St. Louis location.
      8301 Gravois Rd St, Louis, MO 63123
      View Details
    • $575,000
      5,020 SF

      Tower Grove South Investment Opportunity

      Eight-unit multifamily property in desirable Tower Grove South location.
      4067 Connecticut St St, Louis, MO 63116
      View Details
    • New
      $69,900
      2,850 SF

      Hyde Park Multifamily Investment Opportunity

      Two-unit building in historic Hyde Park neighborhood with value-add potential.
      3510 N 21St St, Louis, MO 63107
      View Details
    • $1,250,000
      9,580 SF

      St. Louis Warehouse with Office

      Versatile commercial property with warehouse, office, and secure parking.
      123 Clf Cave Rd St, Louis, MO 63129
      View Details
    • $229,900
      0.05 Acres

      Mixed-Use Building on South Grand

      Mixed-use building with commercial space and residential unit.
      4135 S Grand St, Louis, MO 63118
      View Details

    FAQs

    What type of property is this?
    Apartment building - Six-unit building near Cherokee Street's vibrant district.
    Where is this apartment building located?
    The property is located at 2902-2906 Cherokee St St Louis, MO.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Strong rental income potential exceeding the 1% rule.; - Six well-maintained units, each with 2 beds and 1 bath, ensuring consistent leasing.; - Desirable location near the vibrant Cherokee Street retail, dining, and arts district.
    (314) 623-4870
    Request Owner's contact information
    2902-2906 Cherokee St St Louis, MO 63118
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2902-2906 Cherokee St St
    Louis, MO 63118
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2902-2906 Cherokee St St Louis, MO 63118
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lance Appleby
    Real Estate License ID: 2016000902
    (314) 623-4870 (866) 224-1761
    Learn more
    Google sign-in failed. Please try again or use another login method.