Grove Neighborhood Multifamily
For Sale
Contact for pricing
1053 S Vandeventer Ave St., Saint Louis, MO 63110
Two-building portfolio in the Grove neighborhood, prime for infill.
Property Size5,708 SF
Lot Size0.25 Acres
Price / SF$156.80
Days on Market1484
Property Features for 1053 S Vandeventer Ave St.
General Information
Standard status
Active
Size
5,708 SF
Class
C
Lot size
0.25 Acres
Property subtype
Multifamily
Investment Type
Redevelopment
Building Details
Buildings
2
Stories
2
Units
6
Listing Agency:
King Realty Advisors
Listed By:
Jay Rios · License #MO 2011004671
(314) 486-0231
Source:
Crexi
Added: Aug 16, 2022
Changed: Aug 13
Last Checked: Sep 7 at 12:56AM
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 King Realty Advisors
Investment Insights
Based on property information with market context.
This offering features a two-building portfolio located in the Grove neighborhood. The portfolio includes a four-family building that is currently vacant and an adjacent two-family building that is fully occupied. Situated on a 0.25-acre site, this hard corner location is positioned at the signalized intersection where the upcoming Tower Grove Connector will meet Sarah Street. The site presents opportunities for infill development, or the existing structures could be renovated or repurposed. The property size is 5708 square feet.
Key Highlights
- Prime 1/4 acre site at a signalized hard corner.
- Located in the 'red hot' Grove neighborhood.
- Includes a fully occupied 2‑family building for immediate income.
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
$53,119
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
5.94%
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%
$1,062,380
$1.1M
Cap Rate 7%
$758,843
$758.8K
Cap Rate 9%
$590,211
$590.2K
Market Conditions
NOI Build-Up for 5,708 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
$102.7K $18.00/SF
− Vacancy
−$6.2K −$1.08/SF
EGI
$96.6K $16.92/SF
− OpEx
−$43.5K −$7.61/SF
NOI
$53.1K $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%
$1,062,380
Cap Rate 7%
$758,843
Cap Rate 9%
$590,211
Alternative Uses
Best Use
Apartment 5plus
$758.8K
$664.0K – $885.3K
NOI $53,119 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,753 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,123
Businesses Nearby
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building portfolio in the Grove neighborhood, prime for infill.
Where is this apartment building located?
The property is located at 1053 S Vandeventer Ave St. Saint Louis, MO.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Prime 1/4 acre site at a signalized hard corner.; Located in the 'red hot' Grove neighborhood.; Includes a fully occupied 2‑family building for immediate income.
