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 $800,000 asking price. The real story, however, is the untapped potential upstairs. The second and third floors are primed for renovation into apartment units, allowing an investor to capitalize on strong demand for downtown living along one of the region’s most walkable corridors (79/100 Walk Score). Converting the upper floors to residential would meaningfully increase income while diversifying the rent roll across commercial and multifamily uses, an increasingly rare opportunity in a district where historic buildings seldom trade hands. Historic Main Street draws visitors year-round for its brick-paved streetscape, boutique shopping, dining, and signature festivals, including the nationally recognized Christmas Traditions celebration. The property sits steps from the Missouri Riverfront, Frontier Park, and the First Missouri State Capitol Historic Site, with a traffic count of 77,283 vehicles per day nearby. Ongoing public and private investment throughout downtown Saint Charles continues to strengthen values, with the surrounding neighborhood appreciating 10% over the last two years. Whether held as a stabilized income asset with a proven restaurant tenant or repositioned as a fully realized mixed-use retail-and-residential property, 138 N Main Street represents a compelling investment opportunity in an irreplaceable, high-visibility location on one of Missouri’s most celebrated commercial corridors.
0 Bed
0 Bath
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$ 800,000
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26048597
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Park Chas South 04
St Charles
St Charles
Commercial Sale
Commercial Sale
$7,717
Last 6 closed homes in this zip.
| Address | Bd/Ba | SqFt | List | Sold | Closed |
|---|---|---|---|---|---|
| 409 Paisley Court, Unincorporated, MO 63301 | 3/3 | 1,441 | $365,000 | $365,000 100% of ask |
Sep 9, 2026 |
| 408 Oak Avenue, St Charles, MO 63301 | 3/1 | 1,452 | $270,000 | $280,000 103.7% of ask |
Sep 9, 2026 |
| 21 Saint Henry Court, St Charles, MO 63301 | 3/2 | 960 | $199,900 | $206,000 103.1% of ask |
Sep 9, 2026 |
| 4033 Hempstead Street, St Charles, MO 63301 | 3/3 | 1,872 | $419,000 | $413,000 98.6% of ask |
Sep 9, 2026 |
| 929 N 3rd St, 4, St Charles, MO 63301 | 1/1 | 600 | $995 | $995 100% of ask |
Sep 5, 2026 |
| 3201 S Civic Green Way, St Charles, MO 63301 | 3/3 | 1,360 | $285,000 | $285,000 100% of ask |
Sep 4, 2026 |
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COMING SOON! Rare Opportunity to Enjoy the Beautiful WATER VIEWS! Desirable & Sought-After Ranch in NEW TOWN's Beach District! 3 Bedroom, 2 Bath & 2 Car ATTACHED Garage! Fenced Yard! Enjoy Views of the Water & Beach from the Charming Covered Front Porch! Former Display- 8 years New & 6 years Occupied! 10' Tall Main Floor Ceiling Height! Dramatic Cabinetry with Cambria Counters & Designer Glass Back Splash! You DON'T want to miss your opportunity to Tour this Stunning Home! Showings Start Friday, September 11th! Open House SUNDAY, September 13!
Prepare to fall in love with this exceptional waterfront home, less than a year old and offering the rare combination of 5 bedrooms, 3.5 baths, 2,432 sq. ft., 3-car garage, double balconies, walkout basement and a beautiful water view. Better than new and this is what most people desire when looking for a home in New Town @ St. Charles! The main level welcomes you with 9' ceilings, luxury vinyl plank flooring, recessed lighting, and an impressive wall of windows overlooking the water. The spacious living room flows effortlessly into the generous dining area and gorgeous kitchen. The kitchen features quartz countertops, a striking designer backsplash, white cabinetry, a large center island with cabinetry all around, pantry, and upgraded appliances. A stylish powder room and convenient coat closet complete the main level. Upstairs, the primary suite provides a peaceful retreat with direct access to the covered balcony. The spacious bedroom features a generous closet and bath with an adult-height dual vanity and stand-alone shower. Four additional bedrooms, two full hall baths, a linen closet, and convenient laundry room finishes the upper level. The walkout lower level offers endless possibilities with an egress window and bath rough-in, ready for your unique vision or perfect for storage. The fenced backyard offers plenty of room to entertain, play, or simply relax with family and friends, while the water just beyond your yard invites you to swim, kayak, paddleboard, float, and fish. With both a spacious front yard and backyard, there is no shortage of places to gather and enjoy the outdoors. And the 3-car garage provides the storage and convenience you've been looking for. Life in New Town is truly unlike anywhere else. Enjoy resort-style amenities including sparkling pools and the spectacular 700-foot lazy river, scenic lakes and canals for fishing, swimming, kayaking, paddleboarding, and floating, plus an amphitheater, restaurants, neighborhood shops, grocery store, walking trails, bocce ball, pickleball and volleyball leagues, community events, and so much more. Better than new, beautifully appointed, and perfectly positioned on the water—this is more than a home; it's the New Town lifestyle you've been waiting for. Don't miss it!
Open Sat, 9/12, 12-2pm. Own a piece of St. Charles history! Built in 1894 and tucked along historic Clark Street, this charming home offers the character and craftsmanship of another era paired with thoughtful updates for today. Just a short walk from Historic Main Street, enjoy easy access to local restaurants, shops and all the energy of one of St. Charles’ most beloved destinations. Unlike a cookie-cutter neighborhood, the surrounding streets are filled with distinctive homes, mature character and plenty to discover on an evening stroll. The owners have taken special care to enhance the home while respecting its original charm. A rebuilt, insulated and waterproofed front porch stays true to the original architecture, while refinished hardwood floors and a professionally refinished staircase and updated kitchen add warmth inside. Outdoors, a herringbone brick patio and walkway, refreshed landscaping and garden areas create an inviting backyard retreat. The upstairs bath has been thoughtfully updated while retaining its original cast-iron tub, and the home's original windows have been repaired and reglazed as needed. Additional improvements throughout the kitchen, pantry, baths and exterior add everyday function without sacrificing the character that makes this home so special. Historic. Walkable. One-of-a-kind. This is the kind of St. Charles home that simply can't be recreated.
