Overview
Historic Ballroom Investment Opportunity
This commercial property, constructed in 1927, offers a rare investment opportunity. Located in St. Louis, the property includes two buildings with a total area of 25,750 square feet and 3,408 square feet. A significant feature is the 18,000 square foot ballroom, suitable for events, concerts, conferences, or creative projects. The property is zoned commercial and includes five leases, generating a monthly income of approximately $11,800. Current tenants include a tax office (2,000 square feet, $1,800 monthly), an appliance store (8,000 square feet, $4,000 monthly), an audio store (1,000 square feet, $1,000 monthly), a convenience store (1,500 square feet, $1,500 monthly), and Casa Loma (10,000 square feet, $3,500 monthly). The Casa Loma space is currently under market value, with potential market rent estimated at $10 per square foot, potentially increasing the total monthly rent to $23,300. The property includes equipment, furniture, and fixtures. A new TPO roof was installed within the last 5 years, and the four 10-ton HVAC units were replaced 4 years ago. Three boilers were replaced in 2023. The property's tax IDs are 1515-00-0330-0 and 1515-00-0530-0. The 2024 taxes are $3,218.66 and $19,279.39.
