2838 Meramec St, St Louis, MO 63118

Property Description

2842 Meramec Street (a/k/a 2838 Meramec) is a bank-owned opportunity to acquire a substantial free-standing commercial building in South St. Louis City. Constructed in 1905 and operated for decades as a funeral home, the two-story, 12,138-square-foot structure occupies a 0.54-acre parcel with 187 feet of frontage on Meramec Street, a corridor carrying more than 19,500 vehicles per day. The building's original use produced a floor plan that translates well to a wide range of successor users: large open assembly areas, generous ceiling heights, multiple private offices and gathering rooms, and a 5,473-square-foot full basement for storage or back-of-house operations. Turn-of-the-century masonry construction gives the property architectural presence that new construction at this price point cannot replicate, and the parcel's depth allows for on-site parking and service access - a meaningful advantage in a neighborhood where most commercial buildings are zero-lot-line storefronts. Zoning is "F" Neighborhood Commercial, one of the City's more flexible commercial districts, supporting retail, restaurant, personal service, office, medical, assembly and institutional uses subject to City review. Realistic reuse concepts include event and banquet space, a church or community organization, brewery or taproom, medical or behavioral health clinic, creative office or studio, or continued mortuary operation by an operator seeking an established South City location. The location scores 91 for walkability and sits within a dense, established residential trade area at the seam of Dutchtown, Mount Pleasant and Marine Villa. Cherokee Street's retail and restaurant district, St. Anthony of Padua and I-55 access are all within minutes, and the surrounding submarket has recorded roughly 15% home price appreciation over the past two years. Offered at $425,000, or approximately $35 per square foot of building area, the property is priced below replacement cost and is being sold by the lender strictly as-is, where-is.