Historic Main Street Mixed-Use
For Sale
$800,000
138 N Main Street, Saint Charles, MO 63301
Commercial Sale, St Charles, MO
Property Size5,077 SF
Lot Size0.16 Acres
Price / SF$157.57
Days on Market28
Property Features for 138 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Park Chas South 04
Directions
GPS
Standard status
Active
APN
6-009D-B011-00-0002.0000000
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7717
Building Details
Year built
1890
Floors in Building
2
Listing Agency:
Manor Real Estate
(314) 647-6611
Listed By:
Ben Cherry · License #2006018085
(314) 647-6611
Added: Jul 29
Changed: Aug 24
Last Checked: Aug 25 at 9:06AM
MLS# 26048597
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This circa-1890 brick mixed-use property occupies a 0.16-acre parcel at 138 N Main Street in St. Charles. The ground floor is leased to La Tia and Pancho's Cantina Grill, which has operated at the property for 10 years. The second and third floors are identified for renovation into apartment units, creating a combination of commercial and potential residential space. The property carries Central Business District (AA4) zoning, supporting commercial and residential uses.
The building has 28 feet of frontage along Main Street in the Historic Main Street District. The setting includes nearby access to the Missouri Riverfront, Frontier Park, and the First Missouri State Capitol Historic Site. The surrounding district includes brick-paved streets, boutique shopping, dining, and seasonal festivals. A nearby traffic count is reported at 77,283 vehicles per day, and the property has a Walk Score of 79/100.
The building has 28 feet of frontage along Main Street in the Historic Main Street District. The setting includes nearby access to the Missouri Riverfront, Frontier Park, and the First Missouri State Capitol Historic Site. The surrounding district includes brick-paved streets, boutique shopping, dining, and seasonal festivals. A nearby traffic count is reported at 77,283 vehicles per day, and the property has a Walk Score of 79/100.
Key Highlights
- Circa‑1890 brick mixed‑use building on a 0.16‑acre parcel
- 28 feet of Main Street frontage in St. Charles' Historic Main Street District
- Ground‑floor restaurant tenant has operated at the property for 10 years
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
$70,124
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
8.77%
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%
$1,402,480
$1.4M
Cap Rate 7%
$1,001,771
$1.0M
Cap Rate 9%
$779,156
$779.2K
Market Conditions
NOI Build-Up for 5,077 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
$115.1K $22.68/SF
− Vacancy
−$15.0K −$2.95/SF
EGI
$100.2K $19.73/SF
− OpEx
−$30.1K −$5.92/SF
NOI
$70.1K $13.81/SF
Area
St. Charles County, MO
Vacancy
13.00%
Lease Rate
$22.68 /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%
$1,402,480
Cap Rate 7%
$1,001,771
Cap Rate 9%
$779,156
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,510 @ 7.0% cap · market cap 11.56%
Second Best
Retail
$1.00M
$876.6K – $1.17M
NOI $70,124 @ 7.0% cap · market cap 8.77%
Theoretical Best
Warehouse
$1.34M
$1.18M – $1.57M
NOI $94,057 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
77,283 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,657
Businesses Nearby
Explore this area
Business Placement
Demographics for 63301, MO
50,890
Population
22,687
Households
2.2
Avg Household Size
39
Median Age
39%
College-Educated
94%
High-School Grad
84.3 sq mi
ZIP Area
604
Density / Sq Mi
$83,551
Median Household Income
$46,433
Median Earnings
$1,093
Median Rent
$249,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick commercial building with an operating restaurant and upper floors identified for residential conversion.
Where is this mixed-use property located?
The property is located at 138 N Main Street Saint Charles, MO.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Circa‑1890 brick mixed‑use building on a 0.16‑acre parcel; 28 feet of Main Street frontage in St. Charles' Historic Main Street District; Ground‑floor restaurant tenant has operated at the property for 10 years
