Ground Floor - Ely Walker
Value-Add Retail Condo · 80%+ Seller Financing · Clear Path to 12%+ Cap
Marketing description
Ground-Floor Retail Condo — Value-Add Investment in the Loft District
A 40,639 SF ground-floor commercial condo in the historic Ely Walker Building, offered at $2,150,000 — roughly $53/SF, well under comparable retail sales nearby. The east half (~23,629 SF) is leased at $11,500/mo NNN; the west half (17,010 SF) is now available, giving a buyer immediate lease-up upside. In place the asset runs a 4.9% cap; stabilized with the west side leased, it pencils to roughly 12.2%.
The seller will carry 80%+ — as little as 20% down — an unusually accessible entry on a high-upside downtown asset. With that leverage, a buyer's pro forma cash-on-cash return can exceed 40% once the west half is leased, driven simply by filling the now-available space. In the heart of the Washington Avenue Loft District, surrounded by hotels, retail, restaurants, offices, and thousands of residents, and four blocks from Energizer Park, home of St. Louis CITY SC.
Investment highlights
- Priced at $2,150,000 — ~$53/SF, well below nearby retail comps
- 80%+ seller financing — as little as 20% down
- Pro forma cash-on-cash potential of 40%+ with seller financing, once the west half leases
- In-place 4.9% cap; ~12.2% stabilized once the west half leases
- East half (~23,629 SF) leased at $11,500/mo + NNN
- West half (17,010 SF) now available — built-in lease-up upside
- Ground-floor commercial condo, 40,639 SF total, historic Ely Walker Building
- Heart of the Loft District — hotels, retail, restaurants, offices & residents
- 4 blocks from Energizer Park (St. Louis CITY SC)
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