5960 Dr Martin Luther King Dr

Retail: Tavern/Bar/Nightclub

5960 Dr Martin Luther King Dr, St LouisMO 63112

Property Details

Location

Address
5960 Dr Martin Luther King Dr, St LouisMO 63112
County
ST LOUIS CITY
Submarket
STL - St. Louis City
Parcels
38370001100, 38370001200
In Opportunity Zone
Yes

Building Size

Building Size
27,000 SF

Building Details

Type
 Retail: Tavern/Bar/Nightclub
Number of Buildings
1
Number of Units
1
Occupancy Type
Multi-tenant
Percent Occupied
100%
Building Class
C
Building Status
Existing
Floors
3
Year Built
1923
Sprinklers
Yes
Primary Const.
Masonry
Total Parking
25
Parking Ratio

Land & Utilities

Land (Acres)
0.38 Acres
Land (SF)
16,553 SF
Zoning
G
Lot Depth
223 ft
Lot Width
75 ft

Contacts

Public Remarks

Sprinklers, wet system

Current Listings

New City Urban Building Investment Opportunity

Excellent opportunity to own a great property in an urban redevelopment area. This 97-year-old building underwent major building updates in 2008 bringing it into the 21st Century. In 2008 the owner of the property invested over a Million Dollars in the building to make it one of the premiere Night Clubs in St. Louis. The nature of most of the improvements was to all of the major building systems and components necessary for its use as a Night Club with high occupancy-1705 patrons. This gives the buyer a strong basis to start with for their own use or to keep it as a Night Club/Concert Hall. When constructed, the building use was as a mercantile building housing a furniture store. The building had a freight elevator at the rear of the building and a passenger elevator from the 1st floor to the mezzanine. The rear lot is paved and can adequately park 20-25 cars. Additional land is available mostly through the LRA and the City of St. Louis has improved the property across the street for this building's use with a paved and lighted parking lot. Priced to sell well below replacement cost of $17.30 per square foot makes this property a bargain.

Excellent opportunity to own a great property in an urban redevelopment area. This 97-year-old building underwent major building updates in 2008 bringing it into the 21st Century. In 2008 the owner of the property invested over a Million Dollars in the building to make it one of the premiere Night Clubs in St. Louis. The nature of most of the improvements was to all of the major building systems and components necessary for its use as a Night Club with high occupancy-1705 patrons. This gives the buyer a strong basis to start with for their own use or to keep it as a Night Club/Concert Hall. When constructed, the building use was as a mercantile building housing a furniture store. The building had a freight elevator at the rear of the building and a passenger elevator from the 1st floor to the mezzanine. The rear lot is paved and can adequately park 20-25 cars. Additional land is available mostly through the LRA and the City of St. Louis has improved the property across the street for this building's use with a paved and lighted parking lot. Priced to sell well below replacement cost of $17.30 per square foot makes this property a bargain.

View Details
View Details

Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

©Copyright 2001-2021 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Catylist Real Estate Software, Inc. does not assume any liability for errors or omissions.

Commercial Exchange is a national commercial real estate marketplace powered by Catylist.