Commercial for Sale: 2855 Magnolia Avenue, St Louis, MO 63118 SOLD
3,292 sqft
$625,000
$625,000
2855 Magnolia Avenue,
St Louis, MO 63118 SOLD
3,292 sqft
$625,000
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Selling Price: $625,000
Original List Price: $942,857
Sold at 66.3% of list price
Sold Date: 01/19/2024
Type Commercial
Square Footage 3,292 sqft
Lot Size 0.26 acres
Year Built 1930
Taxes Paid $2,678
City St Louis
Area Central East
County St Louis City
Subdivision Labadie & Lynch Addn
MLS 23063231
Status Closed
DOM 76 days
Investment Opportunity, multi-state autobody shop with 13 locations and growing. New 10-year lease commencing October 1, 2023, with 3% annual rent increases and two 5-year options with The Collision Guys https://www.thecollisionguys.com. This is a great opportunity to own a long-term NNN lease property with great returns. Cap Rate in year 1 is 7% and 9.1% in year 10 giving great appreciation to the investor. This auto body shop was 100% remodeled and expanded in 2015, meeting all EPA regulations as an autobody shop with a paint booth. A new roof was installed in 2023.
Historically, consumers look to repair their vehicles instead of purchasing a new vehicle in a down economy making this an attractive investment with an expanding operator of auto body repair shops.
Room Features
Misc Description Alley, Building Sign, Burglar Alarm, Exterior Lighting, Smoke Alarm/Detec
Lot & Building Features
Construction Conventional, Other
Cooling Electric
Heating Forced Air
Parking Description Asphalt, Concrete
Sewer Public Sewer
Tax Year 2022
Water Public
Lot Dimensions 59/76 X158/159 ft
Price History of 2855 Magnolia Avenue, St Louis, MO
Date | Name | Price | Difference |
---|---|---|---|
10/19/2023 | Listing Price | $625,000 | N/A |
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed. |
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