Updated Triplex with Three
For Sale
$339,900
2209 Shenandoah Avenue, Saint Louis, MO 63104
Residential Income, St Louis, MO
Property Size1,608 SF
Lot Size0.08 Acres
Price / SF$211.38
Days on Market45
Property Features for 2209 Shenandoah Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 1, Bedroom 1, Basement
Parking features
On Street
Basement
Full
Appliances
Stainless Steel Appliance(s), Water Heater
Subdivision
Kingsbury Add
Elementary school
Sigel Elem. Comm. Ed. Center
Middle school
Fanning Middle Community Ed.
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Directions
GPS friendly!
Standard status
Active
APN
1385-00-0330-0
Size
1,608 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
C.B. 1385 SHENANDOAH 31 FT 6 IN X 115 FT KINGSBURYS ADDN BLOCK 2 LOT PT 33 TO 37 BND E 63 FT WWL JULES
Tax Annual Amount
1094
Legal Description
C.B. 1385 SHENANDOAH 31 FT 6 IN X 115 FT KINGSBURYS ADDN BLOCK 2 LOT PT 33 TO 37 BND E 63 FT WWL JULES
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1880
Floors in Building
2
Number of units
3
Building materials
Brick
Architectural style
Other
Listing Agency:
Nettwork Global
(636) 614-5132
Listed By:
Joe Geary · License #2018025898
(314) 403-3283
Added: Aug 21
Changed: Sep 28
Last Checked: Oct 4 at 8:06AM
MLS# 26053055
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 1,608-square-foot brick triplex contains three one-bedroom, one-bathroom units. Interior improvements include refreshed kitchens and bathrooms, newer flooring, fresh paint, and practical layouts. Each residence is equipped with central air and forced-air heating, while public water service and cable availability support the property’s residential use. On-street parking is provided, and the building dates to 1880.
The property occupies 0.0818 acres at 2209 Shenandoah Avenue in St Louis, Missouri 63104, within McKinley Heights. All three units are currently occupied, offering an established operating configuration for a multifamily buyer. The property also includes a basement and stainless steel appliances.
The property occupies 0.0818 acres at 2209 Shenandoah Avenue in St Louis, Missouri 63104, within McKinley Heights. All three units are currently occupied, offering an established operating configuration for a multifamily buyer. The property also includes a basement and stainless steel appliances.
Key Highlights
- Three‑unit triplex with one bedroom and one bathroom per unit
- 1608 square feet on a 0.0818‑acre lot
- All three units are currently tenant occupied
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
$17,195
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
5.06%
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%
$343,900
$343.9K
Cap Rate 7%
$245,643
$245.6K
Cap Rate 9%
$191,056
$191.1K
Market Conditions
NOI Build-Up for 1,608 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
$26.0K $16.20/SF
− Vacancy
−$1.5K −$0.92/SF
EGI
$24.6K $15.28/SF
− OpEx
−$7.4K −$4.58/SF
NOI
$17.2K $10.69/SF
Area
St. Louis County, MO
Vacancy
5.70%
Lease Rate
$16.20 /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%
$343,900
Cap Rate 7%
$245,643
Cap Rate 9%
$191,056
Alternative Uses
Best Use
Multifamily LT 5
$245.6K
$214.9K – $286.6K
NOI $17,195 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$213.8K
$187.1K – $249.4K
NOI $14,964 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$345.1K
$302.0K – $402.6K
NOI $24,157 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied multifamily property with refreshed interiors and established tenants.
Where is this triplex located?
The property is located at 2209 Shenandoah Avenue Saint Louis, MO.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Three‑unit triplex with one bedroom and one bathroom per unit; 1608 square feet on a 0.0818‑acre lot; All three units are currently tenant occupied
