Downtown St. Louis Corner
For Sale
Contact for pricing
318 N 8th St St., Louis, MO
Rehabbed building with restaurant and office space for sale.
Property Size2,214 SF
Lot Size0.06 Acres
Price / SF$360.89
Days on Market1105
Property Features for 318 N 8th St St.
General Information
Standard status
Active
Size
2,214 SF
Lot size
0.06 Acres
Property subtype
RETAIL
Listing Agency:
King Realty Advisors
(314) 566-0192
Listed By:
Bryan King, CCIM · License #2008036027
(314) 566-0192
Source:
Moodyscre
Added: Aug 9, 2023
Changed: Aug 8
Last Checked: Aug 16 at 6:39AM
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 King Realty Advisors
Investment Insights
Based on property information with market context.
Located on the corner of 8th and Locust in Downtown St. Louis, this building has been gut rehabbed. Each floor is approximately 2,214 square feet and features large windows, two restrooms, and private entries. Many new systems have been installed throughout the building. A new EPDM roof was installed in February 2023. The first floor is occupied by a restaurant with one year remaining on its lease and one 5-year option. The second floor office can be vacated upon close or leased back. This property presents an opportunity for an owner/user to occupy the second floor with a stabilized restauranteur occupying the first floor.
Key Highlights
- Prime downtown location at the corner of 8th and Locust.
- Gut rehabbed building with new systems throughout.
- Two floors, each approximately 2,214 SQ FT, with large windows and two restrooms per floor.
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
$29,783
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
3.73%
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%
$595,660
$595.7K
Cap Rate 7%
$425,471
$425.5K
Cap Rate 9%
$330,922
$330.9K
Market Conditions
NOI Build-Up for 2,214 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
$49.4K $22.32/SF
− Vacancy
−$6.9K −$3.10/SF
EGI
$42.5K $19.22/SF
− OpEx
−$12.8K −$5.77/SF
NOI
$29.8K $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%
$595,660
Cap Rate 7%
$425,471
Cap Rate 9%
$330,922
Alternative Uses
Best Use
Retail
$425.5K
$372.3K – $496.4K
NOI $29,783 @ 7.0% cap · market cap 3.73%
Second Best
Office B
$386.0K
$337.7K – $450.3K
NOI $27,018 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$475.2K
$415.8K – $554.4K
NOI $33,261 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,349
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- St. Louis Sportservice by Delaware North — 405 s broadway, st. louis, mo 63102
- The Croquetterie — 1610 Olive St, St. Louis, MO 63108
- Red Zucchini PCS & Catering — 1610 Olive St, St. Louis, MO 63103
- Nirvana Catering — 1610 Olive St, St. Louis, MO 63103
- Centenary Commissary Kitchen — 1610 Olive St, St. Louis, MO 63103
Frequently Asked Questions
What type of property is this?
Restaurant - Rehabbed building with restaurant and office space for sale.
Where is this restaurant located?
The property is located at 318 N 8th St St. Louis, MO.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime downtown location at the corner of 8th and Locust.; Gut rehabbed building with new systems throughout.; Two floors, each approximately 2,214 SQ FT, with large windows and two restrooms per floor.
