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Midtown Stabilized Investment Opportunity 3131 Olive St 5,435 SF 100% Leased Retail Building Saint Louis, MO 63103 $1,300,000 ($239.19/SF) 8.59% Cap Rate
INVESTMENT HIGHLIGHTS
- Historic 1894 building, fully renovated in 2016 with modern systems
- 100% Occupied with Salsa Rosada Restaurant (term thru 11/2027) and Latte Lounge (term thru 2031) – both have renewal options
- Prime Midtown STL corridor near SLU, City Foundry, and Armory STL
- Attractive cap rate profile 8.6% with Updside via renewals and decreasing operating expenses
EXECUTIVE SUMMARY
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 100% leased to Salsa Rosada through 2027 and Latte Lounge through 2031, providing reliable income with annual rent escalations. 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.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,435 SF
Building Class
B
Year Built/Renovated
1894/2016
Price
$1,300,000
Price Per SF
$239.19
Cap Rate
8.59%
NOI
$111,670
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.66
Lot Size
0.19 AC
Opportunity Zone
Yes
Zoning
H - H Area Commercial District
Frontage
85’ on Olive St
AMENITIES
- Restaurant
- Signage
- Skylights
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Latte Lounge
- Accommodation and Food Services
-
99,999 SF
-
$9.99
- -
-
Jan 0000
- Mayo Ketchup
- Accommodation and Food Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Latte Lounge | Accommodation and Food Services | 99,999 SF | $9.99 | - | Jan 0000 | |
| Mayo Ketchup | Accommodation and Food Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Walk Score®
Very Walkable (83)
NEARBY MAJOR RETAILERS
The Bistro
PROPERTY TAXES
| Parcel Number | 1021-04-0160-0 | Total Assessment | $130,100 (2025) |
| Land Assessment | $45,500 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $84,600 (2025) | Tax Year | 2024 Payable 2026 |
PROPERTY TAXES
Parcel Number
1021-04-0160-0
Land Assessment
$45,500 (2025)
Improvements Assessment
$84,600 (2025)
Total Assessment
$130,100 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2026
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Midtown Stabilized Investment Opportunity | 3131 Olive St
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