Retail Building with Adjacent Parking
For Sale
$380,000
1654 Tower Grove Ave, Saint Louis, MO 63110
Retail building with adjacent vacant lot offers added parking and flexibility near the Brickline Greenway.
Property Size1,496 SF
Lot Size0.11 Acres
Price / SF$254.01
Days on Market58
Property Features for 1654 Tower Grove Ave
General Information
Standard status
Active
Size
1,496 SF
Lot size
0.11 Acres
Property subtype
Retail
Additional Details
Highway Access
Yes
Building Details
Building Size
1,496 SF
Year Built
1954
Listing Agency:
Revel Commercial Real Estate
(314) 477-6885
Listed By:
Brian Kelley · License #2004034792
Source:
Revelcre
Added: Jun 24
Changed: Aug 10
Last Checked: Aug 20 at 5:15AM
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 Revel Commercial Real Estate
Investment Insights
Based on property information with market context.
For sale: a 1,496 SF retail building with an adjacent 0.113-acre vacant lot, providing space that can support parking use. The property includes a restaurant patio area, and the billboard is explicitly not included in the sale. Previously configured as a daycare facility, the building may offer a layout that can be adapted for retail or service concepts. A new TPO roof was installed in 2022.
The property is located in Botanical Heights and is described as being among high-quality nearby businesses, including iNDO La Pâtisserie Chouquette and Union Loafers Café, as well as Bread Bakery. It fronts along the Brickline Greenway, a citywide trail spanning 10 miles that is currently under construction and is planned to connect multiple neighborhoods from Forest Park to Gateway Arch National Park. The listing also notes easy access to S Vandeventer Ave and I-44.
This offering may appeal to operators and investors seeking a retail building with adjacent vacant ground to support parking needs. The combination of an updated roof, an outdoor patio area, and a separate lot can be useful for tenant types that want convenient customer access while maintaining the ability to reconfigure interior spaces previously used for daycare.
The property is located in Botanical Heights and is described as being among high-quality nearby businesses, including iNDO La Pâtisserie Chouquette and Union Loafers Café, as well as Bread Bakery. It fronts along the Brickline Greenway, a citywide trail spanning 10 miles that is currently under construction and is planned to connect multiple neighborhoods from Forest Park to Gateway Arch National Park. The listing also notes easy access to S Vandeventer Ave and I-44.
This offering may appeal to operators and investors seeking a retail building with adjacent vacant ground to support parking needs. The combination of an updated roof, an outdoor patio area, and a separate lot can be useful for tenant types that want convenient customer access while maintaining the ability to reconfigure interior spaces previously used for daycare.
Key Highlights
- 1,496 SF retail building built in 1954 with an adjacent 0.113‑acre vacant lot for sale
- Adjacent vacant ground offers added parking flexibility (billboard not included in the sale)
- New TPO roof installed in 2022
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
$20,125
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
5.30%
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%
$402,500
$402.5K
Cap Rate 7%
$287,500
$287.5K
Cap Rate 9%
$223,611
$223.6K
Market Conditions
NOI Build-Up for 1,496 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
$33.4K $22.32/SF
− Vacancy
−$4.6K −$3.10/SF
EGI
$28.7K $19.22/SF
− OpEx
−$8.6K −$5.77/SF
NOI
$20.1K $13.45/SF
Area
St. Louis County, MO
Vacancy
13.90%
Lease Rate
$22.32 /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%
$402,500
Cap Rate 7%
$287,500
Cap Rate 9%
$223,611
Alternative Uses
Best Use
Retail
$287.5K
$251.6K – $335.4K
NOI $20,125 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$321.1K
$280.9K – $374.6K
NOI $22,475 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 63110, MO
18,199
Population
10,260
Households
1.8
Avg Household Size
33
Median Age
64%
College-Educated
97%
High-School Grad
6.6 sq mi
ZIP Area
2,757
Density / Sq Mi
$73,809
Median Household Income
$55,340
Median Earnings
$1,183
Median Rent
$314,600
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?
Storefront property - Retail building with adjacent vacant lot offers added parking and flexibility near the Brickline Greenway.
Where is this storefront property located?
The property is located at 1654 Tower Grove Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 1,496 SF retail building built in 1954 with an adjacent 0.113‑acre vacant lot for sale; Adjacent vacant ground offers added parking flexibility (billboard not included in the sale); New TPO roof installed in 2022
