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1520 Washington Ave
Saint Louis, MO 63103 Downtown West St Louis

$2,150,000 USD

Apartments Condo For Sale  •  40,639 SF

Property Details

  • Property Type Apartments
  • Total Building Size 225,485 SF
  • Lot Size 1.78 AC
  • Building Class A
  • Year Built 1906
  • Zoning I
60 Transit Score
80 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit C1 Retail 40,639 SF $2,150,000 USD
  • Unit Size: 40,639 SF
  • Condo Use: Retail
  • Price: $2,150,000 USD
  • Sale Type: Investment
  • Price/SF: $52.90 USD
Description
Ground-floor commercial condo — 40,639 SF total across four spaces, largest 17,010 SF — in the historic Ely Walker Building, in the heart of the Washington Avenue Loft District. The 17,010 SF west space is now available and can be divided into two spaces down to ~3,000 SF; the balance (~23,629 SF) is leased.

Sale Notes
SELLER FINANCING AVAILABLE — 80%+ CARRY, AS LITTLE AS 20% DOWN
Value-add ground-floor retail condo in the historic Ely Walker Building, offered at $2,150,000 (~$53/SF) — well below comparable downtown retail sales.

East portion (~23,629 SF) leased at $11,500/mo + NNN
West space (17,010 SF) now available — divisible into two spaces, down to ~3,000 SF
In-place ~4.9% cap; ~12.2% stabilized once the west space leases
Pro forma cash-on-cash potential of 40%+ with seller financing — driven simply by leasing the available space

In the heart of the Washington Avenue Loft District, surrounded by hotels, retail, restaurants, offices, and thousands of residents — and blocks from Energizer Park, home of St. Louis CITY SC.

Description 

Value-add ground-floor retail condo in the historic Ely Walker Building (1906), in the heart of Downtown St. Louis's Washington Avenue Loft District. 40,639 SF total across four spaces, offered at $2,150,000 — roughly $53/SF, well below comparable downtown retail sales.
The east portion (~23,629 SF) is leased at $11,500/mo + NNN. The 17,010 SF west space is now available and can be divided into two spaces, down to ~3,000 SF — giving a buyer immediate lease-up upside. In place the asset runs a ~4.9% cap; stabilized, once the west space leases at market, it pencils to roughly 12.2%.
The seller will carry 80%+ — as little as 20% down — an unusually accessible entry on a high-upside downtown asset. With that leverage, pro forma cash-on-cash potential exceeds 40% once the west space is leased, driven simply by filling the available square footage.
Surrounded by hotels, retail, restaurants, offices, and thousands of residents, with walls of windows and hardwood floors throughout. Blocks from Energizer Park (home of St. Louis CITY SC) and minutes from the stadiums, convention center, and the City Museum. A rare combination of in-place income, lease-up upside, and seller financing in one of downtown's strongest corridors.

Highlights

80%+ seller financing — as little as 20% down
Priced at ~$53/SF — less than 30% nearby retail comps
~5% cap in place, ~12.2% stabilized
East ~23,629 SF leased; west 17,010 SF available
West space divisible into two or more, down to ~3,000 SF
Pro forma cash-on-cash potential of 40%+

Amenities

  • Air Conditioning
  • Cable Ready
  • Heating
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Sprinkler System

Public Transportation

Commuter RailDriveWalkDistance
Union Station (Lambert Airport Shiloh-Scott - St. Louis MetroLink (MetroLink), Shrewsbury-Lansdowne I-44 Emerson Park - St. Louis MetroLink (MetroLink)) 3 min 13 min 0.7 mi
Convention Center (Lambert Airport Shiloh-Scott - St. Louis MetroLink (MetroLink), Shrewsbury-Lansdowne I-44 Emerson Park - St. Louis MetroLink (MetroLink)) 2 min 14 min 0.7 mi
Transit/SubwayDriveWalkDistance
Union Station (Lambert Airport Shiloh-Scott - St. Louis MetroLink (MetroLink), Shrewsbury-Lansdowne I-44 Emerson Park - St. Louis MetroLink (MetroLink)) 2 min 13 min 0.7 mi
Convention Center (Lambert Airport Shiloh-Scott - St. Louis MetroLink (MetroLink), Shrewsbury-Lansdowne I-44 Emerson Park - St. Louis MetroLink (MetroLink)) 2 min 14 min 0.7 mi
Civic Center (Lambert Airport Shiloh-Scott - St. Louis MetroLink (MetroLink), Shrewsbury-Lansdowne I-44 Emerson Park - St. Louis MetroLink (MetroLink)) 2 min 14 min 0.7 mi
8th And Pine (Lambert Airport Shiloh-Scott - St. Louis MetroLink (MetroLink), Shrewsbury-Lansdowne I-44 Emerson Park - St. Louis MetroLink (MetroLink)) 2 min 16 min 0.8 mi
Stadium (Lambert Airport Shiloh-Scott - St. Louis MetroLink (MetroLink), Shrewsbury-Lansdowne I-44 Emerson Park - St. Louis MetroLink (MetroLink)) 3 min 20 min 1.1 mi
AirportDriveWalkDistance
St Louis Lambert International 23 min - 13.6 mi
Scott AFB/Midamerica St Louis 40 min - 25.3 mi
Ben Riley 314-809-8541 Keys Realty
Ben Riley 314-809-8541 Keys Realty