Office Building with Kitchen
For Sale
$426,900
Pending
114 Main Street, Hillsboro, MO 63050
Commercial Sale, Hillsboro, MO
Property Size2,772 SF
Lot Size0.51 Acres
Days on Market300
Property Features for 114 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security System
Subdivision
Merry & Oneils Add
Directions
From Hwy A to L on Business 21 to L on Main. Property on R across from City Hall.
Standard status
Pending
APN
17-2.0-03.0-1-002-015
Size
2,772 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
MERRY & ONEILS ADD PT LOT 19
Tax Annual Amount
3143
Legal Description
MERRY & ONEILS ADD PT LOT 19
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Amenities
functional kitchen area
Building Details
Floors in Building
1
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Best Choice · RE/MAX International
(636) 931-7272
Listed By:
Dean Eshelman · License #MO1999138631
(314) 714-7208
Added: Nov 11, 2025
Changed: Aug 24
Last Checked: Sep 7 at 11:06AM
MLS# 24044516
Copyright © 2026 Mid America Regional Information Systems, Inc. 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 2,772-square-foot office building at 114 Main Street offers a recently updated interior with a functional kitchen area. The brick construction includes forced-air heating fueled by natural gas and central air conditioning supported by electric service. A flat roof completes the building profile.
The property occupies 0.51 acres in a corner setting within Hillsboro’s city and downtown area. It is positioned across from City Hall and approximately one block from the courthouse, with public water and public sewer serving the site. Water is also available through the property’s utility infrastructure.
The lot provides additional land area beyond the existing office building, supporting flexibility for future expansion or redevelopment based on applicable approvals.
The property occupies 0.51 acres in a corner setting within Hillsboro’s city and downtown area. It is positioned across from City Hall and approximately one block from the courthouse, with public water and public sewer serving the site. Water is also available through the property’s utility infrastructure.
The lot provides additional land area beyond the existing office building, supporting flexibility for future expansion or redevelopment based on applicable approvals.
Key Highlights
- 2,772‑square‑foot office building on a 0.51‑acre lot
- Across from City Hall and one block from the courthouse
- Recently updated interior with functional kitchen area
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
$34,919
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
8.18%
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%
$698,380
$698.4K
Cap Rate 7%
$498,843
$498.8K
Cap Rate 9%
$387,989
$388.0K
Market Conditions
NOI Build-Up for 2,772 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
$63.9K $23.04/SF
− Vacancy
−$17.3K −$6.24/SF
EGI
$46.6K $16.80/SF
− OpEx
−$11.6K −$4.20/SF
NOI
$34.9K $12.60/SF
Area
Jefferson County, MO
Vacancy
27.10%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$698,380
Cap Rate 7%
$498,843
Cap Rate 9%
$387,989
Alternative Uses
Best Use
Office B
$498.8K
$436.5K – $582.0K
NOI $34,919 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.23M
$7.20M – $9.60M
NOI $576,280 @ 7.0% cap · market cap 134.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 63050, MO
16,874
Population
7,089
Households
2.4
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
91.9 sq mi
ZIP Area
184
Density / Sq Mi
$79,462
Median Household Income
$44,805
Median Earnings
$1,000
Median Rent
$255,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Updated professional office property with public utilities and a flexible corner-site setting in Hillsboro.
Where is this office building located?
The property is located at 114 Main Street Hillsboro, MO.
What is the asking price?
The asking price for this property is $426,900.
What are key features of this property?
This property features: 2,772‑square‑foot office building on a 0.51‑acre lot; Across from City Hall and one block from the courthouse; Recently updated interior with functional kitchen area
