1520 Washington Ave - Ely Walker Lofts Local commercial | 3 775 m² | 1 883 873 € | À vendre | Saint Louis, MO 63103

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.