Historic Mixed-Use
New
For Sale
$1,299,000
109 N Kirkwood Road, Saint Louis, MO 63122
Commercial Sale, St Louis, MO
Property Size6,475 SF
Lot Size0.12 Acres
Price / SF$200.62
Days on Market4
Property Features for 109 N Kirkwood Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Subdivision
Kirkwood
Standard status
Active
APN
23M-12-0352
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
29416
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Forced Air, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1895
Floors in Building
2
Building materials
Brick, Stucco
Listing Agency:
Nichols & Associates Real Estate
(314) 361-7802
Listed By:
Brian Nichols · License #2014043034
(314) 608-7633
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 3 at 9:06AM
MLS# 26018237
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.
Dating to 1895, this brick-and-stucco property is listed on the National Register of Historic Places. Its three areas comprise approximately 2,511 square feet of former restaurant space, 1,304 square feet used as a hair salon, and 2,660 square feet of second-floor office space. The parcel measures 0.115 acres.
The building is on Kirkwood Road in downtown Kirkwood, a short walk from the Railroad Station. Building systems include central air conditioning and heating by natural gas, forced air, and electricity. Public water service and cable availability are noted.
The building is on Kirkwood Road in downtown Kirkwood, a short walk from the Railroad Station. Building systems include central air conditioning and heating by natural gas, forced air, and electricity. Public water service and cable availability are noted.
Key Highlights
- Listed on the National Register of Historic Places; built in 1895
- Three areas: approximately 2,511 square feet of former restaurant space, 1,304 square feet of hair salon space, and 2,660 square feet of second‑floor office space
- 0.115‑acre parcel on Kirkwood Road in downtown Kirkwood
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
$87,103
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
6.71%
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%
$1,742,060
$1.7M
Cap Rate 7%
$1,244,329
$1.2M
Cap Rate 9%
$967,811
$967.8K
Market Conditions
NOI Build-Up for 6,475 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
$144.5K $22.32/SF
− Vacancy
−$20.1K −$3.10/SF
EGI
$124.4K $19.22/SF
− OpEx
−$37.3K −$5.77/SF
NOI
$87.1K $13.45/SF
Area
St. Louis County, MO
Vacancy
13.90%
Lease Rate
$22.32 /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%
$1,742,060
Cap Rate 7%
$1,244,329
Cap Rate 9%
$967,811
Alternative Uses
Best Use
Retail
$1.24M
$1.09M – $1.45M
NOI $87,103 @ 7.0% cap · market cap 6.71%
Second Best
Mixed Use
$1.14M
$995.5K – $1.33M
NOI $79,640 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,275 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,385
Businesses Nearby
108k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 27%
Beauty & Spa 2%
McDonald's
Dining
20,213 visits/mo
0.3 miles
Andy's Frozen Custard
Dining
18,449 visits/mo
0.2 miles
Qdoba Mexican Grill
Dining
10,686 visits/mo
0.5 miles
UMB Bank
Shops & Services
9,057 visits/mo
0.3 miles
Kaldi's Coffee
Dining
5,021 visits/mo
0.1 miles
Demographics for 63122, MO
41,319
Population
17,763
Households
2.3
Avg Household Size
43
Median Age
70%
College-Educated
98%
High-School Grad
14.5 sq mi
ZIP Area
2,850
Density / Sq Mi
$132,783
Median Household Income
$73,050
Median Earnings
$1,329
Median Rent
$449,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three separate areas include former restaurant, salon, and second-floor office space.
Where is this mixed-use property located?
The property is located at 109 N Kirkwood Road Saint Louis, MO.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Listed on the National Register of Historic Places; built in 1895; Three areas: approximately 2,511 square feet of former restaurant space, 1,304 square feet of hair salon space, and 2,660 square feet of second‑floor office space; 0.115‑acre parcel on Kirkwood Road in downtown Kirkwood
