Investment/Redevelopment Opportunity

2800 N Grand Blvd North Grand Boulevard St. Louis, MO 63107

2800 N Grand Blvd North Grand Boulevard , St. Louis, MO, 63107
Front Exterior
2800 N Grand Blvd North Grand Boulevard , St. Louis, MO, 63107 2800 N Grand Blvd North Grand Boulevard , St. Louis, MO, 63107 2800 N Grand Blvd North Grand Boulevard , St. Louis, MO, 63107 2800 N Grand Blvd North Grand Boulevard , St. Louis, MO, 63107 2800 N Grand Blvd North Grand Boulevard , St. Louis, MO, 63107 2800 N Grand Blvd North Grand Boulevard , St. Louis, MO, 63107 2800 N Grand Blvd North Grand Boulevard , St. Louis, MO, 63107
FOR SALE
Property Type:
Mixed Use
Amount:
$920,000
Cap Rate:
7.00%
Last Verified:
Sep 17, 2024

Daily Email Blast
0 times


Fantastic Investment Development Opportunity in St. Louis Mo. This 48,072 SF 3-story was constructed in 1925-1926 in the Classical Revival style brick combination for commercial and residential use, with the 1st Floor as Retail, 2nd floor with 12 offices, 3rd floor with 13 Studio and 2-One Bedroom apartments, and a 15-lane bowling alley in the basement. The building has two primary elevations – one facing Grand Blvd. (west) and one facing St. Louis Avenue (south). Each of these elevations bears detailed terra cotta embellishments and Egyptian-influenced columns on the exterior façade making this a landmark commercial property. Currently, there are 12 month-to-month tenants on the first floor generating $121,620 of income annually and the 2nd and 3rd floors are vacant. The owner has development plans to keep the first floor as retail and convert the 2nd and 3rd floors into 50 senior housing units with additional space in the first floor and basement used as ancillary uses supporting the senior housing. This is an excellent opportunity to redevelop a cash-flowing property utilizing the tax credits and other incentives available either for senior housing or other uses complementing the $1.33 million dollar community development center located across from N Grand on the former Carter Carburetor Superfund Site.

Additional URLs

Map of 2800 N Grand Blvd North Grand Boulevard , St. Louis, MO, 63107

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.