U City Mixed-Use Building

Highlights:

• 100% occupied - 2 tenants in place
• Mixed-use: 1st-floor daycare/retail + 3BR/1BA upstairs apartment (~$26,000/year gross rents)
• 12-space parking lot via shared easement with adjacent building
• Investment or owner user opportunity-tenants on month to month leases and can be vacated
• Adjacent building also for sale (6527 Olive) - potential assemblage / full lot control

Description:

6523 Olive Blvd is a two-story, mixed-use building in University City, offered for sale at $190,000 ($95 per square foot based on 2,000 SF). Built in 1924, the building sits on a 3,354 SF lot with roughly 25 feet of frontage on Olive Boulevard, a corridor that carries approximately 19,650 vehicles per day. The property is 100% occupied by two tenants, making it an attractive investment for a buyer looking for immediate, in-place cash flow in a walkable inner-ring St. Louis County location.

The first floor is leased to a daycare operator, Morning Star Academy, which occupies approximately 1,000 SF of retail space. The tenant currently pays $1,400 per month under the extended term running through March 2027, and the lease allows use as a daycare or any retail use. The landlord pays real estate taxes, while the tenant is responsible for maintaining the premises, which positions the first-floor lease as a simple, low-management income stream.

The second floor is a three-bedroom, one-bathroom apartment leased to a residential tenant at $830 per month on a month-to-month basis. Together, the two units produce approximately $2,230 per month, or about $26,760 per year, in gross rental income. Real estate taxes for 2025 were just $2,861, which keeps carrying costs low relative to the income the building generates.

Parking is provided by a 12-space lot shared with the adjacent building under a shared easement, a valuable amenity along a corridor where off-street parking is often limited. The adjacent building is also being offered for sale, which creates a potential opportunity for a buyer to acquire both properties together and control the entire parking field and a larger frontage on Olive Boulevard.

The location offers strong visibility and easy access, with high daily traffic counts on Olive Boulevard and a Walk Score of 87. The property is zoned 57IC and is located within University City, a well-established submarket with a stable base of residents, schools, and neighborhood-serving businesses.

Whether purchased as a stabilized investment, an owner-user building with rental income from the remaining unit, or as part of a larger assemblage with the neighboring property, 6523 Olive Blvd offers a rare combination of existing income, low taxes, shared parking, and visibility at an accessible price point.

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