Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Leased Office/Retail Property For Sale Title is generated by Realmo AI

    2811-2815 Locust St St., Louis, MO

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Leased office/retail property in the City Commons neighborhood.

    Type:OFFICE
    Property size:
    8,577 SF
    Lot size:
    0.41 Acres
    Price / SF:
    $157/SF
    Added:
    Feb 20, 2025
    Days on Market:
    451
    Last Refresh:
    Apr 5 at 10:21 pm

    Property Features for 2811-2815 Locust St St.

    General Information

    Standard status
    Active
    Size
    8,577 SF
    Lot size
    0.41 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Louis Copilevitz
    Louis Copilevitz

    Listing agent Louis Copilevitz

    Listing office Gershman Commercial Real Estate

    Listing date Feb 20, 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 Gershman Commercial Real Estate

    HighLights

    • 100% leased office/retail property
    • Located in the newly named “City Commons” neighborhood in Mid‑Town
    • Recently renovated, unique, creative space
    • Two Contiguous Buildings: 2811 Locust St (3,277 SF) & 2815 Locust St (5,300 SF)
    • Total of 8,577 square feet
    • Sale Price: $1,450,000

    Overview

    This 8,577-square-foot property consists of two contiguous buildings, located in the newly named City Commons neighborhood. The buildings, located at 2811 Locust St (3,277 SF) and 2815 Locust St (5,300 SF), have been recently renovated into a unique, creative space. The property is currently 100% leased and suitable for office or retail use.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $1.28M
    NOI $115,380 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.65M
    NOI $115,380 @ 7.00% cap · market / base-case scenario
    Aggressive
    $2.31M
    NOI $115,380 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $191.4k $22.32
    − Vacancy −$26.6k −$3.10
    EGI $164.8k $19.22
    − OpEx −$49.4k −$5.77
    NOI $115.4k $13.45
    8,577 SF · lease $22.32/SF/yr · vacancy 13.90% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $1.65M
    $1.44M – $1.92M (±1% cap)
    NOI $115,380 @ 7.0% cap · market cap 8.55%
    Second Best
    Office B
    $1.50M
    $1.31M – $1.74M (±1% cap)
    NOI $104,669 @ 7.0% cap · market cap 7.75%
    Theoretical Best
    Office A
    $1.84M
    $1.61M – $2.15M (±1% cap)
    NOI $128,854 @ 7.0% cap · market cap 9.54%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

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

    Nearby Similar for Sale

    • $699,000
      8,202 SF

      Downtown St. Louis Venue For Sale

      Prominent downtown St. Louis Blues & Jazz venue now available!
      700 S Broadway, St Louis, MO 63102
      View Details
    • $390,000
      6,590 SF

      South City Triplex Opportunity

      As-is triplex in historic neighborhood with income potential.
      2702 S 13th Street, St Louis, MO 63118
      View Details
    • $695,000

      Turnkey 9-Family Plus Commercial Space

      Fully renovated 9-family building with commercial space in South City.
      3659 S Broadway, St Louis, MO 63118
      View Details
    • $335,000
      2,856 SF

      St Louis Quadplex For Sale

      Well-maintained 4-unit quadplex in the North Hampton neighborhood.
      5026 - 5028 Chippewa, St Louis, MO 63109
      View Details
    • $199,900
      3,240 SF

      Retail Opportunity in St Louis

      Retail property with redevelopment potential in a busy location.
      8304 N Broadway, St Louis, MO 63147
      View Details
    • $625,000
      4,400 SF

      Freestanding Office Building on Hampton

      High-visibility office building with high-end finishes and flexible floor plan.
      4700 Hampton Avenue, St Louis, MO 63109
      View Details
    • $850,000
      17,923 SF

      Iconic Building Near SLU Campus

      Redevelopment opportunity near Saint Louis University in walkable Midtown.
      3914 Lindell Boulevard, St Louis, MO 63108
      View Details
    • $899,000
      6,400 SF

      Mixed-Use Property on The Hill

      6,400 SF mixed-use property in St. Louis's vibrant The Hill neighborhood.
      4916 Shaw Avenue, St Louis, MO 63110
      View Details
    • $350,000
      4,200 SF

      Versatile Commercial Building on Gravois

      Adaptable commercial building in high-traffic location with strong exposure.
      5628-30 Gravois Avenue, St Louis, MO 63116
      View Details
    • $750,000
      12,528 SF

      Downtown St. Louis Commercial Condo

      7,078 SF commercial condo in the heart of downtown.
      920 Olive Street, St Louis, MO 63101
      View Details
    • $369,900

      Versatile Mixed-Use Building in St. Louis

      Former nursing facility with endless possibilities for commercial use.
      2754 Bacon Street, St Louis, MO 63106
      View Details
    • $649,000
      3,200 SF

      Affton Retail Building on Gravois

      3,200 SF retail building with high visibility and ample parking.
      8205 Gravois Road, St Louis, MO 63123
      View Details

    FAQs

    What type of property is this?
    Office units - Leased office/retail property in the City Commons neighborhood.
    Where is this office units located?
    The property is located at 2811-2815 Locust St St. Louis, MO.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: 100% leased office/retail property; Located in the newly named “City Commons” neighborhood in Mid‑Town; Recently renovated, unique, creative space
    (314) 406-4088 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Louis Copilevitz
    Louis Copilevitz
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    2811-2815 Locust St, St. Louis, MO
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!