8035 N Broadway

Description

Do not disturb tenants! This 100% leased/occupied mixed-use building is turnkey with value-add opportunities if desired. This fantastic St. Louis City find will satisfy just about every buy/hold investor's desires. 2025 NOI was ~ $30,000 with gross income at $37,200 on the year! This stunning 1850 building has been very cared for by the current and past owners and tenants. In 2023, the building had ~ $27,000 in tuckpointing and ~ $16,000 in beefing up the foundation with 18 new joists, ~ 100 feet of load-bearing beams installed, 14 new footings, and more. OUTDOOR/AREA: Fresh-looking sidewalks extend along the entire front of the building. There is plenty of paved parking in the back for daycare workers, residential tenants, and clients of the daycare to go in and out throughout the day with a wide parking lane immediately in front of the building along the sidewalk. The north building entrance is gated with secure access and a play area for the daycare. The neighboring businesses are some of the local favorites, including Events on Broadway (www.eventsonbroadwaystl.com), the iconic Laundry Detergent (AKA the SOAP SHOP), City Wide Convenience Store, Me-N-U Barber Shop & Beauty Salon, resale stores, a brewery, and more. The nearest park with a playground is less than 1 mile, and Busche Park, housed alongside the historically significant Bellefontaine Cemetery and Arboretum is only 0.6 miles away, providing immediate convenience to everything. It's a quick, easy 5-minute drive to I-70 or an 8-minute drive to I-270 via Lewis & Clark/367. MAIN LEVEL: The main level has two units combined into one and is currently leased by a daycare facility at $1,700 monthly rate on a *gross lease* with rent increases scheduled by contract to $1,802 on 6/1/2026 and to $1,910.12 on 6/1/2027. Tenant pays all repairs on this unit and for all utilities, including water, sewer, power, trash, etc. for the commercial gross lease. Daycare was fully renovated less than 10 years ago. 2ND LEVEL: There are two (2) 2-bedroom/1 bath units, 1 with in-unit laundry; the other without. Unit A has been month to month at $750/month since lease expiration on 12/31/2024. All utilities are covered by tenant. Unit B has been month to month at $650/month since lease expiration on 6/1/2023. All utilities are covered by the tenant. Great tenants are in place, but leases are expired for buyer flexibility. OPTIONAL VALUE-ADDS: There is strong rental demand in the area, and a 2-bedroom unit brings $1,090 on Section 8 in the zip code. Residential units could be upgraded to market raise rent significantly, also. Otherwise, you can sit back and relax while your building appreciates and produces solid returns year after year. Shown only with an accepted contract. Call for appointment. Please do not disturb the tenants. Property is being sold as-is.