Property 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. |
Listed by Cardinal Realty Group, Hal Hanstein
Sold by Zdefault Office, Default Zmember
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 Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information courtesy of: Cardinal Realty Group Listings displaying the MARIS logo are courtesy of the participants of Mid America Regional Information Systems Internet Data Exchange |