Corner Strip Mall with
For Sale
$199,900
8304 N Broadway St, Louis, MO 63147
Two commercial spaces currently support restaurant and convenience-store uses with central air and electric service.
Property Size3,240 SF
Price / SF$61.70
Days on Market300
Property Features for 8304 N Broadway St
General Information
Standard status
Active
Size
3,240 SF
Total Parking Spaces
11
Property subtype
Retail
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$2,663
Amenities
Central Air, Electric
3
Building Details
Year Built
1968
Tenancy
Multi
Listing Agency:
EXP Realty, LLC
(866) 224-1761
Listed By:
Peter Lu · License #2006036727
Source:
Xome
Added: Nov 3, 2025
Changed: Aug 29
Last Checked: Aug 30 at 2:06PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 3,240-square-foot strip mall was built in 1968 and is currently configured for two commercial uses: a Chop Suey restaurant and a convenience store. The property includes central air and electric service, along with a paved parking area containing 11 spaces.
Positioned at the corner of N. Broadway and Pelham Ave in St. Louis, the property offers an established commercial setting with direct access from both intersecting streets. Its existing layout supports separate restaurant and convenience-store operations within one building.
Positioned at the corner of N. Broadway and Pelham Ave in St. Louis, the property offers an established commercial setting with direct access from both intersecting streets. Its existing layout supports separate restaurant and convenience-store operations within one building.
Key Highlights
- 3,240 SF strip mall built in 1968
- Current restaurant and convenience‑store uses
- 11‑space paved parking lot
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
$13,924
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
6.97%
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%
$278,480
$278.5K
Cap Rate 7%
$198,914
$198.9K
Cap Rate 9%
$154,711
$154.7K
Market Conditions
NOI Build-Up for 3,240 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
$19.4K $6.00/SF
− Vacancy
−$875 −$0.27/SF
EGI
$18.6K $5.73/SF
− OpEx
−$4.6K −$1.43/SF
NOI
$13.9K $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%
$278,480
Cap Rate 7%
$198,914
Cap Rate 9%
$154,711
Alternative Uses
Best Use
Retail
$622.6K
$544.8K – $726.4K
NOI $43,585 @ 7.0% cap · market cap 21.80%
Second Best
Specialty Retail
$198.9K
$174.1K – $232.1K
NOI $13,924 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$695.4K
$608.4K – $811.3K
NOI $48,675 @ 7.0% cap · market cap 24.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 63147, MO
8,499
Population
4,542
Households
1.9
Avg Household Size
44
Median Age
12%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
1,441
Density / Sq Mi
$39,119
Median Household Income
$27,956
Median Earnings
$926
Median Rent
$70,300
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?
Strip mall - Two commercial spaces currently support restaurant and convenience-store uses with central air and electric service.
Where is this strip mall located?
The property is located at 8304 N Broadway St Louis, MO.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 3,240 SF strip mall built in 1968; Current restaurant and convenience‑store uses; 11‑space paved parking lot
