5960-62 Dr Martin Luther King Drive

St. Louis, MO

Retail for Sale - $449,750 - 27,000 Sq. Ft. on 0.38 acres


Agent Info

Hal Hanstein
Cardinal Realty Group, Inc.

Property Info

CIMLS#1067599
Location
  5960-62 Dr Martin Luther King Drive
  St. Louis MO 63143
UpdatedAugust 13th, 2020
TypeRetail
Price$449,750
Building27,000 Sq. Ft.
Land0.38 acres

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Property Description

Excellent opportunity to own a great property in an urban redevelopment area. This 97-year-old building underwent major building updates in 2008 bringing it into the 21st Century. In 2008 the owner of the property invested over a Million Dollars in the building to make it one of the premiere Night Clubs in St. Louis, Euforia Nightclub & Lounge. The nature of most of the improvements was to all of the major building systems and components necessary for its use as a Night Club with high occupancy-1705 patrons. This gives the buyer a strong basis to start with for their own use or to keep it as a Night Club/Concert Hall. When constructed, the building use was as a mercantile building housing a furniture store. The building had a freight elevator at the rear of the building and a passenger elevator from the 1st floor to the mezzanine. The rear lot is paved and can adequately park 20-25 cars. Additional land is available mostly through the LRA and the City of St. Louis has improved the property across the street for this building’s use with a paved and lighted parking lot. Priced to sell well below replacement cost of $17.30 per square foot makes this property a bargain.



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