This is a great pedestrian street to explore, with some attractive architecture, some of it more than 100 years old and some of it very modern. If you get off the subway at the Nanjing Rd. East subway station, it's also the most interesting way of ending up at the Bund and the Huangpu River. At night this street is lit up beautifully.
If shopping is your thing, this is a good place to shop during the day.
The 'slightly sleazy' wording in the title is because, as I walked down the street in the evening, I was approached three separate times by attractive young women who 'wanted to practice their English'. If you are with a group or a family, as I was on a previous visit here in 2019, this won't happen to you, and it's a very safe street otherwise.
Worth seeing if you are in Shanghai.