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Property profile & analytics
OFF-MARKET
Estimated value
$65,000
Investment properties
2648-2650 Dr Martin Luther King Dr Saint Louis, MO 63106
Individually Owned
2-yr Hold
Free & Clear
Property ID
US48-0702601
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1880
Construction
WOOD
Total area
2,272 SF
Lot
0.12 ac (5,438 SF)
Zoning code
G
APN
093200-00150
UPID
US48-0702601
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$65k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$65k
Owner & transaction history
Mihret M Asfaw · 2 yrs held
Mihret M Asfaw
since 2024
Last sale
$63,000
7 recorded transactions
Zoning & alternative use
G · Saint Louis, MO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
gle-Family Dwelling District, “B” Two-Family Dwelling District, “C” Multiple-Family Dwelling District, “D” Multiple-Family Dwelling District, “E” Multiple-Family Dwelling District, “F” Neighborhood Commercial District, “G” Local Commercial and Office District, “H” Area Commercial District, “I” Central Business District, “J” Industrial District, “K” Unrestric…
Zone name
Local Commercial And Office District
General category
COMMERCIAL
Zone area
800.50 ac
Source
Citywide Zoning District Map
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Saint Louis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Louis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$65,000
ML approach
$65,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$65k
Range $59k – $72k · ±10% · vs last sale $63k (May 22 2024)
Last sale anchor
$63k
May 22 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$29 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$490
Tax year 2023
Assessed value
$5,100
Assessed 2023
Previous assessed
$5,100
+0.0% YoY
Effective rate
9.61%
On assessed value
Assessed land
$2,900
Assessed improvement
$2,200
Land market value
$9,000
Improvement market value
$6,900
Total market value
$15,900
Applied tax rate
6.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1880
Construction
WOOD
Heating
YES
Stories
2
Units
1
Total area
2,272 SF
Lot
0.12 ac (5,438 SF)
Zoning code
G
APN
093200-00150
UPID
US48-0702601
Jurisdiction
ST LOUIS CITY
Zoning & alternative use
G · Saint Louis, MOZoning G · permitted uses
G · Saint Louis, MO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
gle-Family Dwelling District, “B” Two-Family Dwelling District, “C” Multiple-Family Dwelling District, “D” Multiple-Family Dwelling District, “E” Multiple-Family Dwelling District, “F” Neighborhood Commercial District, “G” Local Commercial and Office District, “H” Area Commercial District, “I” Central Business District, “J” Industrial District, “K” Unrestricted District, and “L” Jefferson Memorial District. The Zoning District Map shows
Zone name
Local Commercial And Office District
General category
COMMERCIAL
Zone area
800.50 ac
Source
Citywide Zoning District Map
Building & site characteristics
From public records
Year built
1880
Construction
WOOD
Heating
YES
Stories
2
Units
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Mihret M Asfaw
Individual
Free & Clear · 2 yrs held
Mailing address
5654 LEONA ST, SAINT LOUIS, MO 63116-2955
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2024
—
Mihret M Asfaw
Mahedere A Asfawa
Intrafamily Transfer
related
—
Jan 20, 2023
—
Mihret M Asfaw
Mahedere A Asfawa
Intrafamily Transfer
related
—
Oct 18, 2022
—
Mahedere A Asfawa
Lakayla Cornell
Correction Deed
related
—
Jun 1, 2022
$63,000
Mahedere A Asfawa
Lakayla Cornell
Warranty Deed
—
Jun 1, 2022
—
Lakayla Cornell
Kathleen Cornell
Intrafamily Transfer
related
—
Dec 15, 2015
—
Lakayla Cornell
Cornell,lawrence
Quit Claim Deed
related
—
Sep 6, 2006
—
Land Reutilization Authority Of C
Sheriff Of St Louis City County
Trustees Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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