Central West End commercial redevelopment opportunity. Prime location next to St Louis University and Cortex. 15,132 SF Building (3 floors @5,044 each). Potential uses include multi-family student housing, office space, co-working, micro apartments or mixed use. Location and premium rents for student housing make this an attractive conversion. Sample drawings and renderings available for 15 to 18 apartments, add a potential 4th floor and increase the number of apartments even more. Market rent for updated 1 beds close by renting for $890-$1,370 and 2 beds from $1,195 to $1,795. Asking price of $47 sq ft is comparable to other similar apartment conversions that have sold. Located in an Opportunity Zone. Rear parking lot w/ 12 spaces. Also available for $295,000 is adjacent parking lot at 3909-11 West Pine with approximately 33 parking spaces.
Listing courtesy of Invest St. Louis.
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