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    5846-5852 Dr Martin Luther King Dr St. Louis, MO

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    Three adjoining commercial lots in North St. Louis City.

    Type:LAND
    Lot size:
    0.56 Acres
    Added:
    Apr 4, 2025
    Days on Market:
    398
    Last Refresh:
    Apr 5 at 8:44 pm

    Property Features for 5846-5852 Dr Martin Luther King Dr St.

    General Information

    Standard status
    Active
    Lot size
    0.56 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Harold Hanstein
    Harold Hanstein

    Listing agent Harold Hanstein

    Listing office Cardinal Realty Group

    Listing date Apr 4, 2025

    Source Moodyscre

    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 Cardinal Realty Group

    HighLights

    • Three adjoining commercial lots totaling 24,411 SF ready for development.
    • Zoned G‑Local Commercial and Office, allowing for diverse business uses.
    • Located on Dr. Martin Luther King Drive in North St. Louis City.
    • Significant frontage: 190 feet on Dr. Martin Luther King Drive and 125 feet on Laurel Street.
    • Priced at $30,000 ($1.23 psf).
    • Utilities are available to the site.

    Overview

    Commercial Lots on Dr. King

    Three adjoining commercial lots are available on Dr. Martin Luther King Drive in North St. Louis City. The properties are zoned G-Local Commercial and Office, offering a variety of permitted uses to serve the local population. The property addresses are 5832, 5842, and 5846 Dr. Martin Luther King Drive. The total square footage of the lots is approximately 24,411 square feet, with 190 feet of frontage on Dr. Martin Luther King Drive and 125 feet on Laurel Street. The lots are fully developed with all utilities available to the site. Many tax credits and incentives are available to support business ownership and operation in the neighborhood.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Louis
    County
    St. Louis
    State
    Missouri
    Longitude
    -90.1928
    Latitude
    38.6305

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    FAQs

    What type of property is this?
    Land - Three adjoining commercial lots in North St. Louis City.
    Where is this land located?
    The property is located at 5846-5852 Dr Martin Luther King Dr St. Louis, MO.
    What is the asking price?
    The asking price for this property is $30,000.
    What are key features of this property?
    This property features: Three adjoining commercial lots totaling 24,411 SF ready for development.; Zoned G‑Local Commercial and Office, allowing for diverse business uses.; Located on Dr. Martin Luther King Drive in North St. Louis City.
    (314) 607-2928 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Harold Hanstein
    Harold Hanstein
    Learn More
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    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
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