3901 Kingshighway Blvd St St. Louis, MO 63115

Property Details for 3901 Kingshighway Blvd St

Year built

1919

Lot size

9.00 lot acres

Property size

600,000 SF

Property type

Warehouses

Property subtype

Self storage facilities

Description

This exceptional 600,000-square-foot industrial warehouse in St. Louis, Missouri, presents a compelling value-add investment opportunity. Situated on a 9-acre lot at 3901 Kingshighway Blvd, zip code 63115, this property boasts a strong 8.04% cap rate and a current NOI of $381,953. The asking price is $4,750,000, translating to a price per square foot of $7.92. Currently 50% occupied, the property offers significant upside potential. The expansive site includes approximately 3 acres of rear and 1.7 acres of front fully fenced, secured, and gated parking, generating income and allowing for future expansion. Zoned K, the property permits diverse uses, including industrial outdoor storage, self-storage, manufacturing, and RV/boat storage. An additional 200,000 square feet of indoor self-storage is feasible, with 58,000 square feet possible on the ground floor. The property benefits from an assumable SBA debt, a prime location on Kingshighway Boulevard with approximately 38,000 vehicles per day passing by, and proximity to I-70 (approximately 99,000 vehicles per day). The buildings feature on-site interior and exterior offices, functional elevators and lifts, and sprinkler systems on all floors. The property is fully gated and secured with video cameras. A dense population base exists within a 3-mile radius (approximately 100,000 individuals) and a 5-mile radius (approximately 265,000 individuals). Current rental rates are $22 per square foot for climate-controlled units and $18 per square foot for non-climate-controlled units. This property is located in an Opportunity Zone.

Location Insight

City

St. Louis

County

State

Missouri

Longitude

-90.251

Latitude

38.6778