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    Historic Mixed-Use Building in Downtown Title is generated by Realmo AI

    1212 Olive St St., Louis, MO 63103

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    Art deco building with office and retail spaces for lease.

    Type:Retail, Office, Restaurant
    Property size:
    23,000 SF
    Added:
    Mar 6, 2024
    Days on Market:
    819
    Last Refresh:
    May 12 at 8:41 pm

    Property Features for 1212 Olive St St.

    General Information

    Standard status
    Active
    Size
    23,000 SF
    Property subtype
    Retail, Office, Restaurant

    Building Details

    Year Built
    1927

    Spaces For Lease

    at 1212 Olive St St. Contact us

    Garage - Suite B $16/Mo

    Size
    3,313 SF
    Type
    Retail, Office, Restaurant
    Take advantage of the convenient drive-thru for first-floor retail spaces, perfect...
    show more
    Contact us

    Garage - Suite C $16/Mo

    Size
    1,986 SF
    Type
    Retail, Office, Restaurant
    Take advantage of the convenient drive-thru for first-floor retail spaces, perfect...
    show more
    Contact us

    Garage - Suite D $16/Mo

    Size
    4,278 SF
    Type
    Retail, Office, Restaurant
    Take advantage of the convenient drive-thru for first-floor retail spaces, perfect...
    show more
    Contact us

    Garage Retail - Suite F $16/Mo

    Size
    1,209 SF
    Type
    Office, Retail, Restaurant
    Take advantage of the convenient drive-thru for first-floor retail spaces, perfect...
    show more
    Contact us

    Office - Suite G $16/Mo

    Size
    2,855 SF
    Type
    Retail, Office, Restaurant
    Contact us

    Office - Suite 130 $16/Mo

    Size
    1,232 SF
    Type
    Office
    Contact us

    Office - Suite 130-A $16/Mo

    Size
    1,413 SF
    Type
    Retail, Office, Restaurant
    Contact us
    Show more

    We can help!

    Listing Contact
    Eddie Cherry
    Eddie Cherry

    Listing agent Eddie Cherry License #2008027591

    Listing office Manor Real Estate

    Listing date Mar 6, 2024

    Source Crexi

    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 Manor Real Estate

    HighLights

    • Prime Downtown St. Louis location, walk to Enterprise Center, MLS Stadium, and Stifel Theatre.
    • Enjoy comprehensive amenities including a fitness center, rooftop pool, conference rooms, 24‑hour security, onsite restaurants and coffee bar, and a clubhouse with a media room.
    • Ample parking with an attached 590‑car garage and a 3/1,000 S.F. parking ratio.
    • Historic art deco building with state‑of‑the‑art systems.
    • Flexible office space options ranging from 3,700 S.F. to 23,000 S.F.
    • First‑floor retail spaces available with a convenient drive‑thru.

    Overview

    The Park Pacific Building, a historic mixed-use building with art deco architectural elements, is located in the heart of Downtown St. Louis. This 750,000 square foot building features modern systems and amenities. Office tenants have access to a fitness center, rooftop pool, conference rooms, 24-hour security, onsite restaurants and a coffee bar, and a clubhouse with a media room. Available office spaces range from 3,700 to 23,000 square feet. A 590-car parking garage is attached, offering a parking ratio of 3 per 1,000 square feet. The first-floor retail spaces feature a convenient drive-thru. Retail space is available on the first floor, ranging from approximately 1,000 to 12,000 square feet. Existing tenants include KFC and Papa John's Pizza. The building occupies an entire city block in Downtown St. Louis, bordered by Olive Street, Tucker Boulevard, Pine Street, and N. 13th Street. It is within walking distance of the Enterprise Center, the new MLS Stadium, and Stifel Theater.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Louis
    County
    St. Louis
    State
    Missouri
    Longitude
    -90.2167
    Latitude
    38.6298

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    FAQs

    What type of property is this?
    Mixed-use property - Art deco building with office and retail spaces for lease.
    Where is this mixed-use property located?
    The property is located at 1212 Olive St St. Louis, MO.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Prime Downtown St. Louis location, walk to Enterprise Center, MLS Stadium, and Stifel Theatre.; Enjoy comprehensive amenities including a fitness center, rooftop pool, conference rooms, 24‑hour security, onsite restaurants and coffee bar, and a clubhouse with a media room.; Ample parking with an attached 590‑car garage and a 3/1,000 S.F. parking ratio.
    (314) 647-6611 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Eddie Cherry
    Eddie Cherry
    Real Estate License ID: 2008027591
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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.

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