Downtown St Louis Commercial Condo Building | Former Urgent Care/ Medical | Airbnb
916 Olive St Olive Street
St. Louis, MO 63101
FOR SALE
Property Type:
Medical/HealthcareAmount:
$3,495,000
Cap Rate:
0.00%Last Verified:
May 15, 2025Daily Email Blast
0 times
916 Olive is a unique multi-tenant condo property that serves as a Medical, Office, Retail, Airbnb, and Event Center. Formerly known as the "Truman Building," it was constructed in 1884. The building was purchased in 2008 for $1.1 million and underwent over $2.2 million in renovations, transforming it from a law office primarily into a medical facility.
The Urgent Care, which is now closed, occupied 4,059 square feet on the ground floor and mezzanine, paying $48.78 per square foot (NNN). Currently, a Chiropractor occupies 698 square feet, paying $42.98 per square foot (NNN), while an additional 618 square feet of retail space is vacant. All three suites are located on the ground floor and the mezzanine.
The upper floors and basement have been converted into unique Airbnb and event spaces, with units ranging from 611 to 4,653 square feet, each featuring a full kitchen and bath decorated in various sports themes, providing a distinctive experience. In 2015, the building was condominiumized into 12 individually metered condo units. It is an elevator-served building and has an updated fire alarm system along with a wet sprinkler system. Notably, the City of St. Louis has designated the parking in front of the building for ambulance service only.
The property at 916 Olive is more than just a building; it serves as a gateway to a vibrant and bustling neighborhood. Conveniently located near 10 parking garages and surface lots, and across the street from the historic Old Post Office, this property boasts unparalleled accessibility. It is situated at the heart of the action, just a short walk from restaurants, shops, sporting venues, the convention center, hotels, and more. In 2008, when the building was purchased for medical use, that use continued to grow in the downtown Central Business District (CBD), coinciding with the expansion of residential living, sports, and entertainment events.
