Two-Unit Mixed-Use
For Sale
$450,000
1615 S 9th Street, Saint Louis, MO 63104
A street-level commercial space is paired with two upper-floor residences and parking for both uses.
Property Size3,600 SF
Price / SF$125
Days on Market19
Property Features for 1615 S 9th Street
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
8
Property subtype
Residential Income
Site & Location
Road Access
Yes
Mixed-Use Components
commercial, residential
Units
Unit Mix
2 x 1BR/1.5BA
Multifamily Units
2
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,499
Amenities
in-unit laundry
Building Details
Building Size
3,600 SF
Year Built
1890
Buildings
1
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
RedKey Realty Leaders
(314) 692-7200
Listed By:
Bruce Butler · License #2007009272
(314) 608-9477
Source:
Finehomesbydawn
Added: Oct 6
Changed: Oct 23
Last Checked: Oct 23 at 1:12PM
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 RedKey Realty Leaders
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Investment Insights
Based on property information with market context.
At 1615 S 9th Street, this 3,600-square-foot mixed-use property combines a ground-floor commercial suite with two one-bedroom, 1.5-bath residences above. Each apartment spans two levels and has in-unit laundry. One apartment is occupied, while the other is vacant. The building dates to 1890.
The sale also includes the adjoining parcel at 1613 S 9th Street, used for salon access and reserved parking. Eight parking spaces serve the two addresses, with residential parking at the rear of 1615. Soulard Market is across the street.
The sale also includes the adjoining parcel at 1613 S 9th Street, used for salon access and reserved parking. Eight parking spaces serve the two addresses, with residential parking at the rear of 1615. Soulard Market is across the street.
Key Highlights
- 3,600‑square‑foot mixed‑use property built in 1890
- Ground‑floor commercial suite and two one‑bedroom, 1.5‑bath apartments
- Each apartment is two stories and includes in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,502
Cap Rate
7.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$670,040
$670.0K
Cap Rate 7%
$478,600
$478.6K
Cap Rate 9%
$372,244
$372.2K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$64.8K $18.00/SF
− Vacancy
−$3.9K −$1.08/SF
EGI
$60.9K $16.92/SF
− OpEx
−$27.4K −$7.61/SF
NOI
$33.5K $9.31/SF
Area
St. Louis County, MO
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$670,040
Cap Rate 7%
$478,600
Cap Rate 9%
$372,244
Alternative Uses
Best Use
Retail
$691.8K
$605.4K – $807.1K
NOI $48,428 @ 7.0% cap · market cap 10.76%
Second Best
Mixed Use
$632.6K
$553.5K – $738.0K
NOI $44,279 @ 7.0% cap · market cap 9.84%
Theoretical Best
Office A
$772.6K
$676.1K – $901.4K
NOI $54,084 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
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Business Placement
Demographics for 63104, MO
19,317
Population
10,958
Households
1.8
Avg Household Size
34
Median Age
54%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
5,681
Density / Sq Mi
$70,127
Median Household Income
$53,693
Median Earnings
$1,054
Median Rent
$249,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A street-level commercial space is paired with two upper-floor residences and parking for both uses.
Where is this mixed-use property located?
The property is located at 1615 S 9th Street Saint Louis, MO.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,600‑square‑foot mixed‑use property built in 1890; Ground‑floor commercial suite and two one‑bedroom, 1.5‑bath apartments; Each apartment is two stories and includes in‑unit laundry
