$620,000
$695,000
10.8%For more information regarding the value of a property, please contact us for a free consultation.
20,412 SqFt
SOLD DATE : 06/10/2025
Key Details
Sold Price $620,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 20,412 sqft
Price per Sqft $30
Subdivision Ivorys
MLS Listing ID 25024761
Sold Date 06/10/25
Year Built 1977
Lot Size 1.533 Acres
Acres 1.533
Lot Dimensions 477' x 140'
Property Sub-Type Retail
Property Description
Investment property with a 10.65 Cap Rate! Building and land for sale with existing tenant in place. Long established business operating now with a new owner, who bought the business and is leasing the whole property. Lease terms are $74,000 annually / $6,166 monthly, triple net, through September 2028. A 5-year renewal option through 2033 contains an increase tied to CPI. Property appraised in July of 2024 for $700,000. Both documents can be made available with a signed NDA. The contiguous vacant undeveloped lots provide plenty of extra ground to build on!
Showing by appointment only with listing agent accompanying, only after first driving by the property and receiving documents for review. Location: City, Corner Location, Industrial Area
Location
State MO
County St Louis City
Area 3 - South City
Interior
Heating Electric, Natural Gas, Varies by Unit, Forced Air
Cooling Central Air, Electric, Exhaust Fan, Other
Fireplace N
Appliance Other
Exterior
Parking Features false
Utilities Available Electricity Available, Natural Gas Available, Water Available, Sewer Available, Phone Available
Roof Type Flat
Building
Sewer Public Sewer
Water Public
Structure Type Other,Concrete,Block
Others
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
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Bought with Default Zmember