3809-3817 S. Kingshighway Blvd

St. Louis, MO

Multi-Use for Sale - $375,000 - 7,908 Sq. Ft. on 10000 acres

Cardinal Realty Group, Inc.

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Agent Info

NameHal Hanstein
CompanyCardinal Realty Group, Inc.

Property Info

CIMLS #1025349
Location3809-3817 S. Kingshighway Blvd
St. Louis MO 63109
Last UpdatedSeptember 3rd, 2018
TypeMulti-Use
Price$375,000
Building7,908 Sq. Ft.
Land10000 acres
DemographicsView data

Contact


Property Description

• Looking for St Louis Investment properties for sale in St Louis?

• Looking for St Louis investment properties with below-market rents?

• Looking for St Louis investment properties price well below replacement cost?

• Looking for St Louis investment properties with a high CAP Rate?

• Looking for St Louis investment properties in a well-established area-historically retail dominated area?

• Looking for St Louis investment properties with the strong demographics?

• Looking for St. Louis investment properties with high traffic counts?

• Looking for St Louis investment properties that are mixed-use?

• Looking for St Louis investment properties with architectural flair?

Well, look no further than 3809-3817 S. Kingshighway Blvd. This mixed-use retail/apartment St Louis investment property is priced to sell fast at $375,000-$47.42 psf! Built before the Great Depression of 1929-1939 when terra cotta accentuated a building. This significant architectural building is only feet from the Kingshighway/Chippewa intersection a “here’s where it’s all happening location” as a major retail hub of St. Louis. Across Kingshighway is the from former Southtown Famous Bar. Today, two neighborhood strip shopping centers, grocery store, restaurants, and a national bank site on its 15-acre site.

• Southtown Centre, an 88,364 SF neighborhood Shopping Center anchored by Walgreens, PetSmart, Office Max, Starbuck and more with lease rates of $18.00 PSF NNN.

• South Towne Plaza 50,000 SF with Harbor Freight Tools as its anchor

• Shop‘n Save a 46,006 SF Supermarket.

• Steak n Shake and BMO Harris Bank

CoStar is tracking 972 comparable Retail buildings in South St. Louis, with a Market Rent of $12.47 and a 2.5% vacancy rate.

According to www.deptofnumbers.com, The medium gross apartment rents have increased by 5.13% since 2016. And as reported by Cushman & Wakefield multifamily rents in South City averaged $751 with a 5.1% vacancy.

The demographics are solid, in a 3-mile radius 176,431 people reside enjoying an average household income of $62,439.

The intersection of S. Kingshighway Blvd and Chippewa Street is one of the highest traffic intersections in the city, with ADVT of 32,585 vehicles per day on S. Kingshighway and 20,367 on Chippewa St.

The upside rental potential for this property is huge. The retail portion of the building is approximately 4186 SF and based on “Market Rent” as published by CoStar, potential Retail Gross Rent is $52,199. The 2nd floor is approximately 3722 SF. There are four apartments on the 2nd floor, two 1-bedroom, and two 2-bedroom.

Major improvements to the property include roof and new electrical panels.


Financials

According to Seller, Gross Income is $51,060 and Net Income is $40,315 Financial Information needs to be verified


Location & Street View


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