1409 Washington Ave St St. Louis, MO 63103
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High-yield, multi-tenant office building
Property size:
34,234 SFProperty Features for 1409 Washington Ave St
General Information
- Property type
- Office properties & Spaces
- Square Feet
- 34,234 SF
- Class
- B
- Lot Size
- 13,460 SF
Building Details
- Year Built
- 1919
- Buildings
- 1
- Stories
- 5
- Units
- 74
Listing Agency: Keys Realty Listing Agent: Ben Riley
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This five-story, 34,234 square foot Class B office building in St. Louis, MO, presents a compelling value-add investment opportunity. Built in 1919 and renovated in 2015 and 2017, the property boasts 74 office suites with a 77% occupancy rate (as of July 1, 2020) and an average rent of $550.93 per unit. The current NOI is $297,000, with a pro-forma NOI of $481,702, yielding a 10.24% cap rate and a pro-forma cap rate of 16.61%. The asking price is $2,900,000 ($84.71/sq ft). The property includes an adjacent parking lot with 21 spaces, offering additional revenue potential and future development possibilities given its prime location near the City Museum and a new hotel. The building benefits from its proximity to new developments, including a Major League Soccer stadium and the Square Headquarters. Seller financing is available. Significant upside potential exists through rent increases and the addition of amenities to the currently stabilized property. The property features a modified lease type and includes a mix of credit-rated and non-credit-rated tenants.
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- St. Louis
- County
- St. Louis
- State
- Missouri
- Longitude
- -90.2000237
- Latitude
- 38.6325635
Nearby Similar for Sale
FAQs
What type of property is this?
Office property - High-yield, multi-tenant office building
Where is this office property located?
The property is located at 1409 Washington Ave St St. Louis, MO.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Seller financing available.; Includes adjacent 21-space parking lot with revenue potential and future development upside.; Prime location near City Museum, new hotel, MLS stadium, and Square Headquarters offers significant upside.
