Former Bank with Drive-Thru
For Sale
Contact for pricing
1626 Pattern Dr St., Saint Louis, MO
6,944 SF building on 2.13 AC, St. Louis, MO
Property Size6,944 SF
Lot Size2.13 Acres
Price / SF$61.20
Days on Market558
Property Features for 1626 Pattern Dr St.
General Information
Standard status
Active
Size
6,944 SF
Lot size
2.13 Acres
Property subtype
RETAIL
Listing Agency:
NAI DESCO
(314) 994-4444
Listed By:
Peter O Sheahan · License #1999029625
(314) 420-3095
Source:
Moodyscre
Added: Mar 5, 2025
Changed: Sep 5
Last Checked: Sep 13 at 5:47AM
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 NAI DESCO
Investment Insights
Based on property information with market context.
The property is a 6,944 square foot building situated on a 2.13-acre lot. It was formerly a bank and includes five drive-thru lanes. The property is zoned C-3 Shopping District and is located 1.5 miles north of the Interstate 270 and Bellefontaine Road interchange.
Key Highlights
- 6,944 SF building on 2.13 AC
- Zoned C‑3 Shopping District
- Former bank with 5 drive‑thru lanes
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
$29,842
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
7.02%
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%
$596,840
$596.8K
Cap Rate 7%
$426,314
$426.3K
Cap Rate 9%
$331,578
$331.6K
Market Conditions
NOI Build-Up for 6,944 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
$41.7K $6.00/SF
− Vacancy
−$1.9K −$0.27/SF
EGI
$39.8K $5.73/SF
− OpEx
−$9.9K −$1.43/SF
NOI
$29.8K $4.30/SF
Area
St. Louis County, MO
Vacancy
4.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$596,840
Cap Rate 7%
$426,314
Cap Rate 9%
$331,578
Alternative Uses
Best Use
Retail
$1.33M
$1.17M – $1.56M
NOI $93,413 @ 7.0% cap · market cap 21.98%
Second Best
Specialty Retail
$426.3K
$373.0K – $497.4K
NOI $29,842 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,321 @ 7.0% cap · market cap 24.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,302
Businesses Nearby
78k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 38%
Dining 32%
Groceries 16%
Shops & Services 13%
McDonald's
Dining
22,069 visits/mo
0.5 miles
Marriott St. Louis Grand
Hotels & Casinos
13,023 visits/mo
0.1 miles
Schnucks
Groceries
12,829 visits/mo
0.0 miles
Holiday Inn St. Louis - Downtown Conv Ctr
Hotels & Casinos
7,878 visits/mo
0.2 miles
Hampton Inn St. Louis-Downtown at the Gateway Arch
Hotels & Casinos
6,458 visits/mo
0.4 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - 6,944 SF building on 2.13 AC, St. Louis, MO
Where is this bank located?
The property is located at 1626 Pattern Dr St. Saint Louis, MO.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 6,944 SF building on 2.13 AC; Zoned C‑3 Shopping District; Former bank with 5 drive‑thru lanes
