S. Broadway and Near Union Station (St. Louis: real estate, rent, neighborhood)

[streamsandfields]

Hi!

My husband and I are thinking of buying a small commercial property down south county. We looked at the strip on S. Broadway (roughly 1 mile north of River City casino and 2 miles south of the casino), and we found that that segment was not in a great shape (as of yesterday). Has it always been this way? Notre Dame and Hancock High are near by, yet, the business strip on S. Broadway seems almost desolate. Has something happened to that neighborhood? Or was my impression incorrect?

I would also like to know if this area would be safe, have a great future for investments etc. This area is near Union Station. It's between Olive and Union Station and between 15th and 18th.

Thanks for any ideas or help!

[aragx6]

So you're looking at the neighborhood called Patch, or if it's a bit farther north possible Carondelet -- it's a working class neighborhood with more than its fair share of hoosiers, but it's pretty darn stable. By that I mean it looks now much as it likely ever did. And cheap prices have made it a bit of an artist's (dare I say hipster?) haven in the last few years. Here's some great information about the neighborhood: St. Louis City Talk: Patch Neighborhood What are you hoping to do with this commercial space? Rent it out? Open a business? I think, if the price is right, it could be a solid little investment but I'd have to know more about your plans to really say.

The second property is downtown west, which has seen a lot of investment in the last 5-10 years. Again, it's going to depend on your plan for the space, but this is an area teeming with potential and a purchase here could make a heck of a lot of sense to be sure.

Best of luck, and feel free to ask any follow-up questions as you have them!

[streamsandfields]

Thanks for the info, aragx6!

Yes, we're thinking of renting out the spaces instead of opening any businesses ourselves. We're thinking of putting down roots here and make some solid investments in real estate.

I can't think of any questions right now, but when I do, I will be right back here. :-)