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    114 Locust Street Sweet Springs, MO 65351

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    Picture of Apartment buildings at 114 Locust Street, Sweet Springs, MO
    For Sale
    $695,000

    MULTI_FAMILY - Sweet Springs, MO

    Lot size:
    0.29 Acres
    Added:
    Aug 7, 2025
    Days on Market:
    239
    Last Refresh:
    Apr 2 at 3:06 am

    Property Features for 114 Locust Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RES
    Parking features
    Off Street
    Patio and Porch features
    Patio
    Appliances
    Dishwasher, Disposal, Refrigerator, Electric Range
    Standard status
    Active
    APN
    020026-101102-009-001000
    Lot size
    0.29 Acres

    Taxes and HOA fees

    TaxDescription
    LOT 3 BLOCK 3 MAGNES ADDITION SWEET SPRINGS MO
    TaxAnnualAmount
    2833

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    2023
    Floors in Building
    1
    Number of units
    5
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Deann Weber

    Listing agent Deann Weber License #2020002267

    Listing office ReeceNichols - Lees Summit 222 SW Main St., Lee's Summit, MO

    Listing date Aug 7, 2025

    MLS# 2567940

    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.

    Overview

    Turn-Key Sweet Springs Investment Opportunity

    This is a fully occupied 5-plex located in Sweet Springs, Missouri, just off I-70. Each of the five units features 2 bedrooms, 1 bathroom, washer-dryer hookups, and modern finishes. The exterior is all-brick, designed for durability and low operating costs. The property is currently generating income with all units rented. Tenants benefit from convenient access to I-70, local amenities, and a residential setting. The property is located on a 0.29-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sweet Springs
    County
    Saline
    State
    Missouri
    Longitude
    -93.415081
    Latitude
    38.966339

    Nearby Similar for Sale

    • $305,000

      Historical Building with Endless Possibilities

      Updated historical building in Sweet Springs, MO, with investment potential.
      301 S Miller Street, Sweet Springs, MO 65351
      View Details
    • $475,000

      New Brick 4-Plex Investment

      Newly built 4-plex in Sweet Springs, Missouri, near I-70.
      201 Highland Street, Sweet Springs, MO 65351
      View Details

    FAQs

    What type of property is this?
    Apartment building - Fully occupied 5-plex near I-70 in Sweet Springs, Missouri.
    Where is this apartment building located?
    The property is located at 114 Locust Street Sweet Springs, MO.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: Fully occupied 5‑plex providing immediate cash flow.; Recently built in 2023, ensuring modern amenities.; Low‑maintenance all‑brick exterior for long‑term durability.
    (816) 463-1841
    We can help!
    Listing Contact
    Deann Weber
    Real Estate License ID: 2020002267
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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