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1015 Locust 1015-1023 Locust St 350,292 SF 47% Leased Office Building Saint Louis, MO 63101 For Sale
Investment Highlights
- Offered at an extremely attractive basis w/ significant in-place NOI
- Located in an Opportunity Zone; potential for Federal and MO Historic Tax Credits
- Top stack of building can be vacant by Q1 2028 for redevelopment
- Assumable debt for qualified purchasers at a 5.39% interest rate (contact brokers for details)
- 47.19% occupied - meaningful lease- up upside
- Strong in-place cash flow from long-term data center lease on lower floors (3rd floor + portion of 5th floor)
Executive Summary
The asset is currently operated as a multi-tenant property with significant in-place cash flow and meaningful vacancy, creating immediate upside through leasing, repositioning, or conversion.
Despite the high vacancy, in-place income supports a strong current yield and provides downside protection while a buyer executes its business plan. Confidential rent roll & financials will be provided to qualified buyers following execution of a confidentiality agreement.
Investment Summary:
1015 Locust Street is a 350,292 SF (Gross Building Area) Downtown St. Louis asset offering a compelling basis-plus-optionality opportunity for both value-add office investors and adaptive reuse developers. The property is being brought to market unpriced and at an exceptionally attractive basis relative to replacement economics. Importantly, the existing tenant roster produces significant in-place cash flow, resulting in a strong in-place yield even at elevated vacancy.
For qualified purchasers, the offering includes highly attractive assumable debt with a 5.39% interest rate; please contact the brokers for additional details. The property is also located within a designated Opportunity Zone and is potentially eligible for State and Federal Historic Tax Credits.
The building is currently 47.19% occupied and features a new, long-term lease with a credit- quality data center tenant occupying the 3rd floor and portions of the 5th floor.
Along with additional existing tenancy, the current occupancy provides significant in- place cash flow that meaningfully reduces carry risk while a buyer executes either (i) an office lease-up strategy or (ii) a substantial office-to-residential (or other alternative use) conversion. Combined with assumable financing for qualified purchasers, the property offers a differentiated risk-adjusted profile for both hold-and-improve and redevelopment business plans. The top stack of the building can be vacant by Q1 of 2028 for redevelopment purposes.
Property Facts
Amenities
- Banking
- Controlled Access
- Conferencing Facility
- Dry Cleaner
- Food Service
- Property Manager on Site
- Security System
- Reception
- Air Conditioning
- Backup Power / Generators
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Professional, Scientific, and Technical Services
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- -
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Jan 0000
The attorneys at Kortenhof McGlynn & Burns LLC bring together years of vast legal experience to successfully defend complex litigation throughout Missouri and Illinois. They represent corporations large and small in counties that are traditionally home to adverse verdicts. Their unique combination of skill, courtroom savvy, personal commitment, and preparation—as well as their positive relationships with opposing counsel—consistently deliver winning results. They work closely with their clients to learn their products, goals and philosophies, and they are known for their personal service, hard work, and ingenuity. All of this combined allows them to offer superior legal representation. Kortenhof McGlynn & Burns was certified by the City of St. Louis as a minority business in September 2010.
- Massie, Fudemberg, Goldberg L.L.C.
- Professional, Scientific, and Technical Services
- -
- -
-
Jan 0000
Locally owned and operated accounting office in Saint Louis, Missouri, established in 1968.
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- Professional, Scientific, and Technical Services
- -
- -
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Jan 0000
With over 70 mesothelioma attorneys and 28 investigators among their almost 300 employees, MRHFM Law Firm is dedicated solely to their mesothelioma clients and their claims. With offices across the country, their size and exclusive focus on mesothelioma cases allows us to quickly process your claims and maximize your recovery. Their attorneys have represented thousands of mesothelioma victims, and their law firm is recognized by fellow mesothelioma attorneys as one of the best.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Professional, Scientific, and Technical Services | - | - | Jan 0000 | ||
| Massie, Fudemberg, Goldberg L.L.C. | Professional, Scientific, and Technical Services | - | - | Jan 0000 | ||
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Professional, Scientific, and Technical Services | - | - | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 4th Fl-Ste 400
- 3,651 SF
- Office
- -
- Now
- 4th Fl-Ste 406
- 750 SF
- Office
- -
- Now
- 4th Fl-Ste 412
- 1,381 SF
- Office
- -
- Now
- 4th Fl-Ste 413
- 1,442 SF
- Office
- -
- Now
- 4th Fl-Ste 416
- 1,531 SF
- Office
- -
- Now
- 4th Fl-Ste 420
- 2,220 SF
- Office
- -
- Now
- 5th Fl-Ste 500
- 14,454 SF
- Office
- -
- Now
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
- 8th Fl-Ste 812
- 2,006 SF
- Office
- -
- Now
- 8th Fl-Ste 818
- 1,413 SF
- Office
- -
- Now
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
- 8th Fl-Ste 850
- 1,304 SF
- Office
- -
- Now
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
- 9th Fl-Ste 908
- 2,191 SF
- Office
- -
- Now
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
- 9th Fl-Ste 911
- 2,675 SF
- Office
- Full Build-Out
- 30 Days
- 10th Fl-Ste 1024
- 2,856 SF
- Office
- -
- Now
- 10th Fl-Ste 1030
- 2,998 SF
- Office
- -
- Now
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
- 10th Fl-Ste 1040
- 2,045 SF
- Office
- -
- Now
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
| Space | Size | Space Use | Condition | Available |
| 4th Fl-Ste 400 | 3,651 SF | Office | - | Now |
| 4th Fl-Ste 406 | 750 SF | Office | - | Now |
| 4th Fl-Ste 412 | 1,381 SF | Office | - | Now |
| 4th Fl-Ste 413 | 1,442 SF | Office | - | Now |
| 4th Fl-Ste 416 | 1,531 SF | Office | - | Now |
| 4th Fl-Ste 420 | 2,220 SF | Office | - | Now |
| 5th Fl-Ste 500 | 14,454 SF | Office | - | Now |
| 6th Fl-Ste 600 | 29,191 SF | Office | Partial Build-Out | Now |
| 7th Fl-Ste 725 | 951 SF | Office | - | Now |
| 8th Fl-Ste 800 | 3,502 SF | Office | Partial Build-Out | Now |
| 8th Fl-Ste 801 | 2,785 SF | Office | Partial Build-Out | Now |
| 8th Fl-Ste 812 | 2,006 SF | Office | - | Now |
| 8th Fl-Ste 818 | 1,413 SF | Office | - | Now |
| 8th Fl-Ste 825 | 6,738 SF | Office | Partial Build-Out | Now |
| 8th Fl-Ste 850 | 1,304 SF | Office | - | Now |
| 9th Fl-Ste 900 | 1,854 SF | Office | Partial Build-Out | Now |
| 9th Fl-Ste 905 | 3,082 SF | Office | Partial Build-Out | Now |
| 9th Fl-Ste 908 | 2,191 SF | Office | - | Now |
| 9th Fl-Ste 909 | 1,624 SF | Office | - | Now |
| 9th Fl-Ste 911 | 2,675 SF | Office | Full Build-Out | 30 Days |
| 10th Fl-Ste 1024 | 2,856 SF | Office | - | Now |
| 10th Fl-Ste 1030 | 2,998 SF | Office | - | Now |
| 10th Fl-Ste 1031 | 3,144 SF | Office | - | Now |
| 10th Fl-Ste 1040 | 2,045 SF | Office | - | Now |
| 11th Fl-Ste 1100 | 14,629 SF | Office | - | Now |
4th Fl-Ste 400
| Size |
| 3,651 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
4th Fl-Ste 406
| Size |
| 750 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
4th Fl-Ste 412
| Size |
| 1,381 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
4th Fl-Ste 413
| Size |
| 1,442 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
4th Fl-Ste 416
| Size |
| 1,531 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
4th Fl-Ste 420
| Size |
| 2,220 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
5th Fl-Ste 500
| Size |
| 14,454 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
6th Fl-Ste 600
| Size |
| 29,191 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
7th Fl-Ste 725
| Size |
| 951 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
8th Fl-Ste 800
| Size |
| 3,502 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
8th Fl-Ste 801
| Size |
| 2,785 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
8th Fl-Ste 812
| Size |
| 2,006 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
8th Fl-Ste 818
| Size |
| 1,413 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
8th Fl-Ste 825
| Size |
| 6,738 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
8th Fl-Ste 850
| Size |
| 1,304 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
9th Fl-Ste 900
| Size |
| 1,854 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
9th Fl-Ste 905
| Size |
| 3,082 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
9th Fl-Ste 908
| Size |
| 2,191 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
9th Fl-Ste 909
| Size |
| 1,624 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
9th Fl-Ste 911
| Size |
| 2,675 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
10th Fl-Ste 1024
| Size |
| 2,856 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
10th Fl-Ste 1030
| Size |
| 2,998 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
10th Fl-Ste 1031
| Size |
| 3,144 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
10th Fl-Ste 1040
| Size |
| 2,045 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
11th Fl-Ste 1100
| Size |
| 14,629 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
6th Fl-Ste 600
| Size | 29,191 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
7th Fl-Ste 725
| Size | 951 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
8th Fl-Ste 800
| Size | 3,502 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
8th Fl-Ste 801
| Size | 2,785 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
8th Fl-Ste 825
| Size | 6,738 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
9th Fl-Ste 900
| Size | 1,854 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
9th Fl-Ste 905
| Size | 3,082 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
9th Fl-Ste 909
| Size | 1,624 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
10th Fl-Ste 1031
| Size | 3,144 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
11th Fl-Ste 1100
| Size | 14,629 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
New lobby and exterior facade Steps away from Washington Avenue retail/restaurant district On-site property management Excellent highway access Traditional or creative office space Lease Rates: $12.00 - $14.00 PSF
Property Taxes
| Parcel Number | 0281-00-0030-0 | Improvements Assessment | $1,331,100 |
| Land Assessment | $248,100 | Total Assessment | $1,579,200 |
Property Taxes
Presented by
1015 Locust | 1015-1023 Locust St
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