Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2815 Locust St Saint Louis, MO 63103-1308

    • Office Properties & Spaces
    • 5,900 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Apr 05, 2022
    $1,234,000
    Value Estimations
    $1,245,000
    Show details
    Cap Rate Potential
    5.4%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US48-1447866
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 2815 Locust St

    Year built
    1927
    Construction
    BRICK
    Lot size
    0.15 lot acres
    Property size
    5,900 SF
    Zone code
    J
    Property type
    Office Properties & Spaces
    APN
    099300-01200
    APU
    9930001200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,290,000
      ML approach
      $1,225,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,155,000
      6.5%
      $1,065,000
      7%
      $990,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $777,000
      Market price range: $479k - $1.67M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,075,000
      Current use
      RESTAURANT
      $1,635,000
      Change: +52% Conversion: Difficult
      RETAIL STORES
      $920,000
      Change: -14% Conversion: Easy
      MEDICAL BUILDING
      $910,000
      Change: -15% Conversion: Easy
      OFFICE BUILDING
      $880,000
      Change: -18% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Saint Louis
    County
    Saint Louis City
    State
    Missouri
    Longitude
    -90.2187
    Latitude
    38.6354
    CBSA code
    41180
    CBSA name
    ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $18,830
    $5,900
    $174,300
    $180,200
    -
    $18,500
    $544,600
    $563,100

    Comparable in this City

    • Value Estimation by Request
      424,879 SF

      1831 Chestnut St St

      Office space • 424,879 SF
      1831 Chestnut St St, St. Louis, MO 63103
      View Details
    • Value Estimation by Request
      34,234 SF

      1409 Washington Ave St

      Office Properties & Spaces • 34,234 SF
      1409 Washington Ave St, St. Louis, MO 63103
      View Details
    • Value Estimation by Request
      6,653 SF

      2650 Locust St St

      Office space • 6,653 SF
      2650 Locust St St, St. Louis, MO 63103
      View Details
    • Value Estimation by Request
      5,040 SF

      1907 Locust St St

      Individual retail properties • 5,040 SF
      1907 Locust St St, St. Louis, MO 63103
      View Details
    • Value Estimation
      $13,135,000
      87,406 SF

      1831 Chestnut St, Unit 1

      OFFICE (GENERAL) • 87,406 SF
      1831 Chestnut St, Saint Louis, MO 63103-2236
      View Details
    • Value Estimation
      $730,000
      8,891 SF

      210 17th St Ste, Unit 104

      OFFICE (GENERAL) • 8,891 SF
      210 17th St Ste, Saint Louis, MO 63103-2518
      View Details

    Similar Nearby for Sale

    • $300,000
      5,040 SF

      Downtown St. Louis Mixed-Use Building

      Prime location, high visibility, redevelopment potential.
      1907 Locust St St, St. Louis, MO 63103
      View Details
    • $1,584,500
      2,625 SF

      Chouteau Ave Executive Office Suites

      St. Louis Executive Office Space For Sale
      1922-1926 Chouteau Ave St, St. Louis, MO 63103
      View Details
    • $2,900,000
      34,234 SF

      St. Louis Office Building Investment

      High-yield, multi-tenant office building
      1409 Washington Ave St, St. Louis, MO 63103
      View Details
    • $549,000
      12,326 SF

      Three-Story Loft Building For Sale

      12,326 SF loft building suitable for retail, office, residential.
      1401 Washington Ave, Saint Louis, MO 63103
      View Details
    • $725,000
      26,000 SF

      Downtown St. Louis Mixed-Use Property

      Office, industrial, and warehouse spaces in downtown St. Louis.
      730 N 18Th St, Louis, MO 63103
      View Details
    • $698,500
      15,989 SF

      Spacious Commercial Condo For Sale

      15,989 SF commercial condo ideal for various purposes.
      703-711 N 13Th St, Louis, MO 63103
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      38,072 SF

      Downtown St. Louis Office Sublease

      Prime CBD location, flexible space available.
      1928 Locust St St, St. Louis, MO 63103
      View Details
    • $15 SF/Yr
      7,500 SF

      St. Louis Executive Office Space

      Prime St. Louis Office, 3,576 SF Available
      505 Ewing Ave St, St. Louis, MO 63103
      View Details
    • $2,700 /Mo

      904 S 4Th St, Unit 301

      Top Floor Atrium Office with Railroad and Arch Views
      904 S 4Th St, Saint Louis, MO 63103
      View Details
    • $16 SF/Yr
      1,629 SF

      Historic Building Near MLS Stadium

      Updated historic building with suites available near the new stadium.
      308 N 21St St, Louis, MO 63103
      View Details
    • $1,125 /Mo
      471 SF

      Furnished Office Space Available

      Office space with furnished conference room and lounge available for rent.
      2704 Locust St, Saint Louis, MO 63103
      View Details
    • $16 SF/Yr
      621,089 SF

      Park Pacific Building Office Space

      Downtown St. Louis, MO: Class A Office Suites
      1212 Olive St St, St. Louis, MO 63103
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2815 Locust St
    Saint Louis, MO 63103-1308
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.