Remarks

Investment property with a 10.65 Cap Rate! Building and land for sale with existing tenant in place. Long established business operating now with a new owner, who bought the business and is leasing the whole property. Lease terms are $74,000 annually / $6,166 monthly, triple net, through September 2028. A 5-year renewal option through 2033 contains an increase tied to CPI. Property appraised in July of 2024 for $700,000. Both documents can be made available with a signed NDA. The contiguous vacant undeveloped lots provide plenty of extra ground to build on!
Showing by appointment only with listing agent accompanying, only after first driving by the property and receiving documents for review.

Details

MLS#: 25024761
Price: $695,000

Style: Commercial & Indr.
Sq Ft: 20412.0
Year Built: 1977

County: St Louis City
Subdivision: Ivorys
Lot Size: 477' x 140'
Tax Fee: 11552