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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Investment properties
2840 Locust St Saint Louis, MO 63103-1309
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US48-0329994
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1903
Construction
BRICK
Total area
3,774 SF
Lot
0.2 ac (8,753 SF)
Zoning code
H
APN
099200-00107
UPID
US48-0329994
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
$540k
CAP Approach
CAP
$680k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$570k
Owner & transaction history
Sincerely The Craft LLC · 4 yrs held
Sincerely The Craft LLC
since 2022
Last sale
$545,000
7 recorded transactions
Zoning & alternative use
H · Saint Louis, MO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ly 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 D…
Zone name
Area Commercial District
General category
COMMERCIAL
Zone area
960.88 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
$570,000
ML approach
$540,000
CAP Approach
CAP Return
Estimation
6%
$740,000
6.5%
$680,000
7%
$635,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$685,000
Current use
RETAIL STORES
$590,000
Change: -14% · Conversion: Easy
MEDICAL BUILDING
$580,000
Change: -15% · Conversion: Easy
OFFICE BUILDING
$565,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$570k
Range $513k – $627k · ±10% · vs last sale $545k (Jan 28 2022)
Last sale anchor
$545k
Jan 28 2022
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
$151 / 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
$4,764
Tax year 2023
Assessed value
$48,140
Assessed 2023
Previous assessed
$48,140
+0.0% YoY
Effective rate
9.90%
On assessed value
Assessed land
$5,450
Assessed improvement
$42,690
Land market value
$18,300
Improvement market value
$170,500
Total market value
$188,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
1903
Construction
BRICK
Heating
YES
Stories
2
Units
1
Total area
3,774 SF
Lot
0.2 ac (8,753 SF)
Zoning code
H
APN
099200-00107
UPID
US48-0329994
Jurisdiction
ST LOUIS CITY
Zoning & alternative use
H · Saint Louis, MOZoning H · permitted uses
H · Saint Louis, MO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ly 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 the 12 primary zoning districts and 3 Zoni
Zone name
Area Commercial District
General category
COMMERCIAL
Zone area
960.88 ac
Source
Citywide Zoning District Map
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$685,000
RETAIL STORES
Est. value
$590,000
MEDICAL BUILDING
Est. value
$580,000
OFFICE BUILDING
Est. value
$565,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1903
Construction
BRICK
Heating
YES
Stories
2
Units
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Sincerely The Craft LLC
Entity
Mailing address
2212 ELLINGTON DR, BELLEVILLE, IL 62221-7935
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2022
$545,000
Sincerely The Craft LLC
Midtown Locust Properties LLC
Warranty Deed
$315,000 · Enterprise Bank & Trust
Nov 17, 2021
—
Midtown Locust Properties LLC
—
Deed
related
$200,000 · Peoples National Bank NA
Sep 2, 2015
—
Midtown Locust Properties LLC
Adelstein,barry
Warranty Deed
related
—
Jan 28, 2013
—
Barry Adelstein
—
Deed Of Trust
related
$4,631,000 · St Louis Bank
Sep 11, 2012
—
Barry Adelstein Holdings LP
Adelstein,barry
Quit Claim Deed
related
—
Dec 20, 2002
—
Barry Adelstein
Jameson Development LLC
Grant Deed
$325,000 · Allegiant Bank
—
—
Scott Gundolf
—
Deed Of Trust
related
$313,500 · St Louis Bank
—
—
Barry Adelstein
—
Deed Of Trust
related
$160,000 · St Louis Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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