Mixed-Use Multifamily with Commercial
For Sale
$525,000
3465-67 S Grand St, Louis, MO 63118
Residential Income, St Louis, MO
Property Size2,000 SF
Price / SF$262.50
Days on Market126
Property Features for 3465-67 S Grand St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3
Parking features
Alley
Subdivision
Hunt add
Elementary school
Bryan Hill Elem.
Middle school
Henry Elem.
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Directions
Use GPS
Standard status
Active
APN
1595-00-02007
Size
2,000 SF
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1950
Floors in Building
1
Building materials
Brick
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices Select Properties
(314) 775-2050
Listed By:
Lisa Alexander · License #1999111692
(314) 835-6000
Added: Apr 18
Changed: Aug 19
Last Checked: Aug 21 at 6:06AM
MLS# 26014901
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 mixed-use multifamily property was previously a Bible college. The building has residential apartments upstairs and commercial space downstairs, along with a full basement. Brick construction and a layout supporting multiple bedrooms and bathrooms are reflected in the unit/room configuration, and the existing units have been updated. The property also features off-street parking.
Built in 1950, the building is heated with forced air and cooled with central air. Parking is available via an alley.
The surrounding area supports day-to-day convenience, with a grocery store across the street and restaurants and shopping nearby. The property is also on a bus line, which can support resident and customer access.
Built in 1950, the building is heated with forced air and cooled with central air. Parking is available via an alley.
The surrounding area supports day-to-day convenience, with a grocery store across the street and restaurants and shopping nearby. The property is also on a bus line, which can support resident and customer access.
Key Highlights
- Upstairs residential apartments with downstairs commercial space and full basement
- Updated units with long‑term residents
- Brick construction built in 1950
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
$18,612
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
3.55%
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%
$372,240
$372.2K
Cap Rate 7%
$265,886
$265.9K
Cap Rate 9%
$206,800
$206.8K
Market Conditions
NOI Build-Up for 2,000 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
$36.0K $18.00/SF
− Vacancy
−$2.2K −$1.08/SF
EGI
$33.8K $16.92/SF
− OpEx
−$15.2K −$7.61/SF
NOI
$18.6K $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 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%
$372,240
Cap Rate 7%
$265,886
Cap Rate 9%
$206,800
Alternative Uses
Best Use
Apartment 5plus
$265.9K
$232.7K – $310.2K
NOI $18,612 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$429.2K
$375.6K – $500.8K
NOI $30,046 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
Explore this area
Business Placement
Demographics for 63118, MO
25,194
Population
14,770
Households
1.7
Avg Household Size
34
Median Age
38%
College-Educated
87%
High-School Grad
3.4 sq mi
ZIP Area
7,410
Density / Sq Mi
$57,268
Median Household Income
$44,717
Median Earnings
$952
Median Rent
$210,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Brick building with updated residential apartments upstairs and commercial space downstairs, with forced-air heat and central air.
Where is this multifamily property located?
The property is located at 3465-67 S Grand St Louis, MO.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Upstairs residential apartments with downstairs commercial space and full basement; Updated units with long‑term residents; Brick construction built in 1950
