1451 Mullanphy St 6,042 SF 100% Leased Office Building Saint Louis, MO 63106 $991,536 CAD ($164.11 CAD/SF) 10.21% Cap Rate

1451 Mullanphy Street is a well-maintained, single-story brick office building offering approximately 6,000 SF of finished space plus an additional ~6,000 SF basement level, all situated on a generous 1.1-acre lot in St. Louis's 14th Ward. Built in 2003, the multi-tenant property features 15 private offices, a conference room, reception area, kitchen, and ADA-compliant restrooms and parking — an ideal, low-maintenance investment for a buyer looking to unlock upside.
Value-add opportunity: in-place rents have not been increased in several years, creating immediate room to reposition to market rates. The ~6,000 SF basement is currently underutilized and offers strong potential for conversion to self-storage or contractor/inventory storage, adding a new income stream.
Recent capital investment reduces near-term capex needs: new roof (2024, $33K) and full exterior remodel — soffit, fascia, gutters, downspouts (2025, $18K) — plus new flooring and paint throughout most offices, hallways, reception, and kitchen (2024–2025). The lot is fully fenced/gated with 12-camera surveillance and a monitored alarm system.
Located just 1.2 miles from the new $1.7B National Geospatial-Intelligence Agency campus (opened 2025) and 1.6 miles from downtown St. Louis, the property sits in a Neighborhood Commercial zoning district permitting general/professional offices, medical offices, retail, and financial institutions.