Historic Mixed-Use
For Sale
$1,299,000
109 N Kirkwood Road, Saint Louis, MO 63122
Three separate commercial areas combine restaurant, salon, and second-floor office space in a National Register-listed property.
Property Size6,475 SF
Price / SF$200.62
Days on Market186
Property Features for 109 N Kirkwood Road
General Information
Standard status
Active
Size
6,475 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$29,416
Building Details
Building Size
6,475 SF
Year Built
1895
Buildings
1
Tenancy
Multi
Listing Agency:
Nichols & Associates Real Estate
Listed By:
Brian Nichols · License #2014043034
(314) 361-7802
Source:
Aimeesimpson
Added: Apr 2
Changed: Oct 3
Last Checked: Oct 3 at 2:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nichols & Associates Real Estate
Investment Insights
Based on property information with market context.
Built in 1895, this mixed-use building is listed on the National Register of Historic Places. Its interior is arranged as three distinct spaces: a 2,511-square-foot former restaurant, a 1,304-square-foot hair salon, and a 2,660-square-foot office on the second floor.
The property is at 109 N Kirkwood Road in St. Louis, Missouri, a short walk from the Railroad Station and within downtown Kirkwood.
The property is at 109 N Kirkwood Road in St. Louis, Missouri, a short walk from the Railroad Station and within downtown Kirkwood.
Key Highlights
- Built in 1895 and listed on the National Register of Historic Places
- Three commercial spaces: 2,511‑square‑foot former restaurant, 1,304‑square‑foot hair salon, and 2,660‑square‑foot second‑floor office
- 109 N Kirkwood Road location, steps from the Railroad Station
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
Lease Details
Multi-tenant
Tenancy
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 commercial areas combine restaurant, salon, and second-floor office space in a National Register-listed property.
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: Built in 1895 and listed on the National Register of Historic Places; Three commercial spaces: 2,511‑square‑foot former restaurant, 1,304‑square‑foot hair salon, and 2,660‑square‑foot second‑floor office; 109 N Kirkwood Road location, steps from the Railroad Station
