Restaurant Space with Equipped
For Sale
$760,000
1511 Washington Avenue St, Louis, MO 63103
COMMERCIAL - St Louis, MO
Property Size8,422 SF
Price / SF$90.24
Days on Market191
Property Features for 1511 Washington Avenue St
General Information
Property type
Commercial Sale
Property subtype
Retail
Accessibility
Accessible Elevator Installed
Appliances
Cooktop, Dishwasher, Disposal, Exhaust Fan, Built-In Freezer, Indoor Grill, Oven, Range, Wall Oven, Bar Fridge
Subdivision
Downtown
Directions
GPS is Best!
Standard status
Active
APN
05219050000
Amenities
elevator
floor-to-ceiling windows
luxury finishes
Building Details
Year built
1909
Floors in Building
2
Building materials
Brick
Listing Agency:
Salient Realty Group, LLC
(314) 374-3687
Listed By:
Timothy McCarthy · License ##2019034093
(314) 374-3687
Added: Feb 11
Changed: Aug 4
Last Checked: Aug 21 at 2:06PM
MLS# 26007687
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.
Restaurant space offered for sale at 1511 Washington Avenue in St. Louis, MO, featuring luxury finishes and a full commercial kitchen with all equipment included. The first floor includes a large bar and dining room, while the second floor provides additional bar and dining space with floor-to-ceiling windows. An elevator connects floors, supporting access to the second-floor restaurant area.
Available restaurant area totals 5,324 SF on the first-floor restaurant footprint plus an additional bar area of 3,098 SF, for a combined range described in the listing of 5,324 to 8,422 SF. The restaurant and additional bar areas can be divided, which may support flexible operational layouts depending on the tenant’s needs.
The second-floor space is configured as a large dining room with an additional bar, with glazing spanning to the ceiling to bring in light and visibility for the dining experience.
Available restaurant area totals 5,324 SF on the first-floor restaurant footprint plus an additional bar area of 3,098 SF, for a combined range described in the listing of 5,324 to 8,422 SF. The restaurant and additional bar areas can be divided, which may support flexible operational layouts depending on the tenant’s needs.
The second-floor space is configured as a large dining room with an additional bar, with glazing spanning to the ceiling to bring in light and visibility for the dining experience.
Key Highlights
- 5,324–8,422 SF of restaurant space with multiple dining and bar areas
- Full commercial kitchen with all equipment included, plus appliances including cooktop, ovens, range, and built‑in freezer
- Large bar and dining room on the first 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
$36,194
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
4.76%
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%
$723,880
$723.9K
Cap Rate 7%
$517,057
$517.1K
Cap Rate 9%
$402,156
$402.2K
Market Conditions
NOI Build-Up for 8,422 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
$50.5K $6.00/SF
− Vacancy
−$2.3K −$0.27/SF
EGI
$48.3K $5.73/SF
− OpEx
−$12.1K −$1.43/SF
NOI
$36.2K $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%
$723,880
Cap Rate 7%
$517,057
Cap Rate 9%
$402,156
Alternative Uses
Best Use
Specialty Retail
$517.1K
$452.4K – $603.2K
NOI $36,194 @ 7.0% cap · market cap 4.76%
Second Best
Industrial
$477.0K
$417.3K – $556.5K
NOI $33,387 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,526 @ 7.0% cap · market cap 16.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,782
Businesses Nearby
71k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Hotels & Casinos 33%
Groceries 18%
Shops & Services 5%
McDonald's
Dining
22,069 visits/mo
0.4 miles
Marriott St. Louis Grand
Hotels & Casinos
13,023 visits/mo
0.5 miles
Schnucks
Groceries
12,829 visits/mo
0.4 miles
Holiday Inn St. Louis - Downtown Conv Ctr
Hotels & Casinos
7,878 visits/mo
0.4 miles
Imo's Pizza
Dining
5,213 visits/mo
0.2 miles
Demographics for 63103, MO
9,411
Population
5,990
Households
1.6
Avg Household Size
31
Median Age
51%
College-Educated
91%
High-School Grad
2.2 sq mi
ZIP Area
4,278
Density / Sq Mi
$37,500
Median Household Income
$36,091
Median Earnings
$978
Median Rent
$205,400
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?
Conventional restaurant - Restaurant space with luxury finishes, full commercial kitchen, and large bar and dining areas across two floors.
Where is this conventional restaurant located?
The property is located at 1511 Washington Avenue St Louis, MO.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: 5,324–8,422 SF of restaurant space with multiple dining and bar areas; Full commercial kitchen with all equipment included, plus appliances including cooktop, ovens, range, and built‑in freezer; Large bar and dining room on the first floor
