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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
2367954
2367953

1407 Washington Ave, St. Louis, MO 63103

BR
MO MO 2016002029, MO MO2016002029
Keys Realty
Listed by Keys Realty
$2,250,000
2155 days on market
Updated 15 days ago

1407 Washington Offices

Details
Property Type Office
Sub Type Executive Office
Square Footage 34,234
Units 74
Cap Rate 11.11%
NOI $250,000
Occupancy 84%
Tenancy Multi
Lease Type Modified
Pro-Forma Cap Rate 21.41%
Pro-Forma NOI $481,702
Price per SqFt $66
Broker Co-Op Yes
Class B
Year Built 1919
Year Renovated 2015, 2017
Buildings 1
Stories 5
Acreage 0.309
Investment Type Value Add
Tenant Credit No Credit Rating
Occupancy Date 04/01/2026

Small Office Suite Building with Credit Union as Anchor Tenant

Marketing description

Former hat building constructed in 1919 at the corner of 15th and Washington Avenue, this building has been recently renovated and is now home to First Financial Credit Union and 74 office suites on floors 2 through 5.


For an extra $750,000, this building comes with the adjacent parking lot containing 21 parking spaces. There is potential to generate substantially more income from this lot as it's right next door to the bustling City Museum and the newly constructed "The Last Hotel" with 142 hotel rooms.


Plenty of upside potential on the office suites, which currently average under $500 per month.


Get in on the ground floor of this investment opportunity before all the nearby hotels under construction are completed.

Investment highlights

  • Seller Financing Available

  • includes adjacent parking lot containing 21 parking spaces for an additional $750,000

  • Daily Parking Revenue and Future Development Opportunity on Parking Lot

  • Enormous Value add potential by adding amenities like some of the other co-working spaces have and raising rents, (which currently average less than $500 per month.

  • 74 office suites

  • new hotels nearby under construction

  • Major League Soccer Stadium nearby under construction

  • new Square Headquarters just blocks away

Listing Contacts

BR
MO MO 2016002029, MO MO2016002029
Keys Realty
Listed by Keys Realty

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$250,000.00
$20,833.33/mo

Valuation Metrics

0
DSCR
11.11%
Cap Rate
11.11%
ROI

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Additional Information

Name
Ben Riley
License
MO 2016002029
Brokerage
Keys Realty
Brokerage Phone
3146626398
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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