Positioned in the heart of Saint Charles’ Historic Main Street District, 138 N Main Street offers investors a rare combination of stable in-place income and significant value-add upside. This circa-1890 brick building totals 5,077 square feet on a 0.16-acre parcel with 28 feet of Main Street frontage and Central Business District (AA4) zoning that supports a wide range of commercial and residential uses. The ground floor is anchored by La Tia and Pancho’s Cantina Grill, a beloved local restaurant that has operated at this location for a full decade. The tenant generates $45,000 in annual net operating income, providing dependable day-one cash flow at an attractive 5.6% cap rate on the $800,000 asking price. The real story, however, is the untapped potential upstairs. The second and third floors are primed for renovation into apartment units, allowing an investor to capitalize on strong demand for downtown living along one of the region’s most walkable corridors (79/100 Walk Score). Converting the upper floors to residential would meaningfully increase income while diversifying the rent roll across commercial and multifamily uses, an increasingly rare opportunity in a district where historic buildings seldom trade hands. Historic Main Street draws visitors year-round for its brick-paved streetscape, boutique shopping, dining, and signature festivals, including the nationally recognized Christmas Traditions celebration. The property sits steps from the Missouri Riverfront, Frontier Park, and the First Missouri State Capitol Historic Site, with a traffic count of 77,283 vehicles per day nearby. Ongoing public and private investment throughout downtown Saint Charles continues to strengthen values, with the surrounding neighborhood appreciating 10% over the last two years. Whether held as a stabilized income asset with a proven restaurant tenant or repositioned as a fully realized mixed-use retail-and-residential property, 138 N Main Street represents a compelling investment opportunity in an irreplaceable, high-visibility location on one of Missouri’s most celebrated commercial corridors.

Positioned in the heart of Saint Charles’ Historic Main Street District, 138 N Main Street offers investors a rare combination of stable in-place income and significant value-add upside. This circa-1890 brick building totals 5,077 square feet on a 0.16-acre parcel with 28 feet of Main Street frontage and Central Business District (AA4) zoning that supports a wide range of commercial and residential uses. The ground floor is anchored by La Tia and Pancho’s Cantina Grill, a beloved local restaurant that has operated at this location for a full decade. The tenant generates $45,000 in annual net operating income, providing dependable day-one cash flow at an attractive 5.6% cap rate on the $800,000 asking price. The real story, however, is the untapped potential upstairs. The second and third floors are primed for renovation into apartment units, allowing an investor to capitalize on strong demand for downtown living along one of the region’s most walkable corridors (79/100 Walk Score). Converting the upper floors to residential would meaningfully increase income while diversifying the rent roll across commercial and multifamily uses, an increasingly rare opportunity in a district where historic buildings seldom trade hands. Historic Main Street draws visitors year-round for its brick-paved streetscape, boutique shopping, dining, and signature festivals, including the nationally recognized Christmas Traditions celebration. The property sits steps from the Missouri Riverfront, Frontier Park, and the First Missouri State Capitol Historic Site, with a traffic count of 77,283 vehicles per day nearby. Ongoing public and private investment throughout downtown Saint Charles continues to strengthen values, with the surrounding neighborhood appreciating 10% over the last two years. Whether held as a stabilized income asset with a proven restaurant tenant or repositioned as a fully realized mixed-use retail-and-residential property, 138 N Main Street represents a compelling investment opportunity in an irreplaceable, high-visibility location on one of Missouri’s most celebrated commercial corridors.