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Commercial Blue Bldg 1409 Washington Ave 34,234 SF 82% Leased Office Building Saint Louis, MO 63103 $3,489,800 CAD ($101.94 CAD/SF) 11.91% Cap Rate
INVESTMENT HIGHLIGHTS
- Prime Downtown Location – In the Washington Avenue Loft District surrounded by lofts, hotels, restaurants, and entertainment.
- Rare Onsite Parking – 21 spaces with significant parking income potential in a high-demand downtown area.
- Major Upside Potential – Competing coworking spaces earn nearly double current rents.
- Five-Story Historic Building – Two ground-floor retail spaces and 72 small office suites with elevator access.
- Strong In-Place Income – Operating at a 10% cap rate based on last year’s P&L.
- Flexible Seller Financing – Seller open to providing financing for qualified buyers.
EXECUTIVE SUMMARY
1409 Washington Avenue – Historic Downtown St. Louis Office Building for Sale
Prime Investment Opportunity | 10% Cap Rate | Rare Onsite Parking | Seller Financing Available
Positioned in the heart of the Washington Avenue Loft District, 1409 Washington Avenue presents a rare chance to acquire a five-story historic office building with strong in-place income and substantial upside potential.
The property features two ground-floor retail spaces and 72 small office suites on floors two through five, all elevator-served and supported by 21 onsite parking spaces — an exceptionally valuable amenity in Downtown St. Louis. In addition to tenant convenience, the parking lot itself offers significant income potential, especially during nearby events and peak downtown hours.
Based on last year’s P&L, the building operates at a 10% capitalization rate, providing solid existing cash flow. Competing office suite and coworking spaces nearby are achieving nearly double the current rents, revealing a clear opportunity to rebrand and reposition the property as a modern coworking destination.
While the building currently lacks shared amenities, future ownership could enhance market appeal and rents by adding common-area features typical of successful coworking brands — such as shared conference rooms, lounge areas, phone booths, and event or collaboration spaces.
As a historic structure, the building may also qualify for Missouri and Federal Historic Tax Credits if improvements or a conversion project are undertaken. The seller is open to providing seller financing, offering flexibility for qualified investors or developers.
Surrounded by residential lofts, hotels, restaurants, and nightlife, the property is within walking distance of CITYPARK Stadium, Busch Stadium, and Enterprise Center, placing it at the center of downtown’s revitalization corridor and long-term growth trajectory.
Prime Investment Opportunity | 10% Cap Rate | Rare Onsite Parking | Seller Financing Available
Positioned in the heart of the Washington Avenue Loft District, 1409 Washington Avenue presents a rare chance to acquire a five-story historic office building with strong in-place income and substantial upside potential.
The property features two ground-floor retail spaces and 72 small office suites on floors two through five, all elevator-served and supported by 21 onsite parking spaces — an exceptionally valuable amenity in Downtown St. Louis. In addition to tenant convenience, the parking lot itself offers significant income potential, especially during nearby events and peak downtown hours.
Based on last year’s P&L, the building operates at a 10% capitalization rate, providing solid existing cash flow. Competing office suite and coworking spaces nearby are achieving nearly double the current rents, revealing a clear opportunity to rebrand and reposition the property as a modern coworking destination.
While the building currently lacks shared amenities, future ownership could enhance market appeal and rents by adding common-area features typical of successful coworking brands — such as shared conference rooms, lounge areas, phone booths, and event or collaboration spaces.
As a historic structure, the building may also qualify for Missouri and Federal Historic Tax Credits if improvements or a conversion project are undertaken. The seller is open to providing seller financing, offering flexibility for qualified investors or developers.
Surrounded by residential lofts, hotels, restaurants, and nightlife, the property is within walking distance of CITYPARK Stadium, Busch Stadium, and Enterprise Center, placing it at the center of downtown’s revitalization corridor and long-term growth trajectory.
FINANCIAL SUMMARY (ACTUAL - 2022) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| 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 - 2022) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
34,234 SF
Building Class
B
Year Built/Renovated
1919/1985
Price
$3,489,800 CAD
Price Per SF
$101.94 CAD
Cap Rate
11.91%
NOI
$415,723 CAD
Percent Leased
82%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
6,598 SF
Slab To Slab
10’
Building FAR
2.54
Lot Size
0.31 AC
Zoning
I
Parking
21 Spaces (0.61 Spaces per 1,000 SF Leased)
AMENITIES
- Banking
- Bus Line
- Property Manager on Site
- Signage
- Kitchen
- Central Heating
- Natural Light
- Partitioned Offices
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Office suites available starting at 350
| Space | Size | Space Use | Condition | Available |
| 5th Fl-Ste 500 | 120-200 SF | Office | - | Now |
5th Fl-Ste 500
| Size |
| 120-200 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
5th Fl-Ste 500
| Size | 120-200 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
Office suites available starting at 350
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 0520-04-0015-0 | Total Assessment | $484,583 CAD (2025) |
| Land Assessment | $121,357 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $363,226 CAD (2025) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
0520-04-0015-0
Land Assessment
$121,357 CAD (2025)
Improvements Assessment
$363,226 CAD (2025)
Total Assessment
$484,583 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2022
1 of 71
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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Commercial Blue Bldg | 1409 Washington Ave
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