Midtown Retail Building for Sale
$1,300,000
3131 Olive Street, St. Louis, MO 63103
For Sale
Retail
Retail Pad
Active
Last Updated: 09/11/2025
7.1
Cap Rate
5,435 sqft
Building Size
Details:
Cap Rate: 7.1%
Building Size: 5,435 sqft
Lot Area: 8,312 sqft
Occupancy: 75%
Lease Type: Triple Net
Year Built: 1894
Price Per Sqft: $239.19
Zoning: H Area Commercial District
Tenancy: Multiple
Year Last Renovated: 2016
Construction Status: Existing
Highlights:
- Historic 1894 building, fully renovated in 2016 with modern systems
- Prime Midtown STL corridor near SLU, City Foundry, and Armory STL
- Attractive cap rate profile with upside – 7% current, 9–10% stabilized
- 1,350 SF Eastern Bay vacancy offering $24K/year upside potential
- 75% leased to Reputable Restaurant through 2027 with annual rent escalations
Description:
3131–3137 Olive Street presents a stabilized restaurant investment with clear upside in St. Louis’ Midtown corridor. The property totals ±5,372 SF and is 75% leased to Salsa Rosada through 2027, providing reliable income with annual rent escalations. The ±1,350 SF eastern bay is currently vacant, offering investors additional NOI potential when leased at market rates. Originally built in 1894 and fully renovated in 2016, the building combines historic character with modern systems and ADA compliance. Located along Olive Street near Saint Louis University, and The City Foundry this property is positioned within one of the city’s most active growth areas.
Documents:
| Title | ||
|---|---|---|
| 3131-3137_Olive_Street_-_FOR_SALE_BROCHURE.pdf |
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Location
Gallery
