Steel Flex Space with Garage
For Sale
$240,000
101 W Main Street, Drexel, MO 64742
Business Opportunity, Drexel, MO
Property Size2,000 SF
Lot Size0.16 Acres
Price / SF$120
Days on Market196
Property Features for 101 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Parking features
Parking Lot, Garage, On Street
Exterior features
Delivery Door(s), Display Window
Directions
South on Holmes, west on Main Street.
Subdivision
208 - Cass County, Mo
Standard status
Active
APN
0476800
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
ORIG STUART CITY 1' E SIDE LOT
Tax Annual Amount
2250
Legal Description
ORIG STUART CITY 1' E SIDE LOT
Utilities
Utilities
Water Available
Amenities
stubbed for bath
zoned heated floors
2 garage doors
Building Details
Year built
2021
Floors in Building
1
Listing Agency:
ReeceNichols - Lees Summit · Reece & Nichols
(816) 524-7272
Listed By:
Kara Anderson · License #2013012732
(816) 797-5513
Added: Feb 24
Changed: Sep 7
Last Checked: Sep 8 at 8:06PM
MLS# 2604009
Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2021 flex property includes a 40 x 50 steel shop constructed on a concrete slab. The building has two garage doors, display windows, and a delivery door, with plumbing stubbed for a bathroom and zoned heated floors. Its prior garage and auto-sales use provides context for the existing layout without limiting future commercial applications.
The 0.16-acre parcel includes a fenced lot connected to the building. Parking options include a dedicated parking lot, garage parking, and on-street parking. Commercial zoning and available water service support the property’s existing business-oriented configuration.
The 0.16-acre parcel includes a fenced lot connected to the building. Parking options include a dedicated parking lot, garage parking, and on-street parking. Commercial zoning and available water service support the property’s existing business-oriented configuration.
Key Highlights
- 40 x 50 steel shop built in 2021 on concrete
- Two garage doors plus a delivery door
- Fenced 0.16‑acre lot attached to the building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,606
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$232,120
$232.1K
Cap Rate 7%
$165,800
$165.8K
Cap Rate 9%
$128,956
$129.0K
Market Conditions
NOI Build-Up for 2,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.2K $9.60/SF
− Vacancy
−$1.3K −$0.67/SF
EGI
$17.9K $8.93/SF
− OpEx
−$6.2K −$3.12/SF
NOI
$11.6K $5.80/SF
Area
Bates County, MO
Vacancy
7.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$232,120
Cap Rate 7%
$165,800
Cap Rate 9%
$128,956
Alternative Uses
Best Use
Retail
$441.9K
$386.7K – $515.6K
NOI $30,934 @ 7.0% cap · market cap 12.89%
Second Best
Flex RnD
$165.8K
$145.1K – $193.4K
NOI $11,606 @ 7.0% cap · market cap 4.84%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64742, MO
2,079
Population
996
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
93%
High-School Grad
77.1 sq mi
ZIP Area
27
Density / Sq Mi
$77,143
Median Household Income
$40,056
Median Earnings
$851
Median Rent
$226,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned steel shop with flexible parking, display windows, and a secured outdoor area.
Where is this flex space located?
The property is located at 101 W Main Street Drexel, MO.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 40 x 50 steel shop built in 2021 on concrete; Two garage doors plus a delivery door; Fenced 0.16‑acre lot attached to the building
