Highway-Facing Restaurant
For Sale
$975,000
1298 N Highway 47, Union, MO 63084
Commercial Sale, Union, MO
Property Size3,216 SF
Lot Size0.75 Acres
Price / SF$303.17
Days on Market8
Property Features for 1298 N Highway 47
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking
50
Parking features
Parking Lot
Subdivision
Dairy View
Directions
GPS will guide you directly to establishment.
Standard status
Active
APN
APN: 17-6-230-0-018-041600
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7028
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2001
Floors in Building
1
Flooring type
Laminate
Building materials
Brick, Vinyl Siding
Listing Agency:
Keller Williams Realty West
(636) 229-8500
Listed By:
Julie Scarpace
(636) 229-8504
Added: Aug 13
Changed: Aug 19
Last Checked: Aug 20 at 2:06PM
MLS# 26050823
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 3,216-square-foot restaurant building occupies a 0.75-acre parcel in Union, Missouri. The interior includes an open dining area, bar, lobby, kitchen, and two restrooms, with laminate flooring, forced-air heat, and central air conditioning. The structure was built in 2001 and features brick and vinyl siding construction. A paved parking lot and public water service are also included.
Positioned along North Highway 47, the property offers direct highway exposure and access within Union. Interstate 44 is nearby, providing a regional connection toward the St. Louis metropolitan area and surrounding markets. The asset is suited to an owner-user or investor seeking an existing restaurant configuration with a layout that may support additional commercial concepts, subject to applicable approvals.
Positioned along North Highway 47, the property offers direct highway exposure and access within Union. Interstate 44 is nearby, providing a regional connection toward the St. Louis metropolitan area and surrounding markets. The asset is suited to an owner-user or investor seeking an existing restaurant configuration with a layout that may support additional commercial concepts, subject to applicable approvals.
Key Highlights
- 3,216‑square‑foot building on a 0.75‑acre parcel
- Restaurant layout includes open dining, bar, lobby, kitchen, and 2 restrooms
- Faces Highway 47 in Union, Missouri
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
$34,938
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
3.58%
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%
$698,760
$698.8K
Cap Rate 7%
$499,114
$499.1K
Cap Rate 9%
$388,200
$388.2K
Market Conditions
NOI Build-Up for 3,216 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
$48.6K $15.12/SF
− Vacancy
−$2.0K −$0.64/SF
EGI
$46.6K $14.48/SF
− OpEx
−$11.6K −$3.62/SF
NOI
$34.9K $10.86/SF
Area
Franklin County, MO
Vacancy
4.20%
Lease Rate
$15.12 /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%
$698,760
Cap Rate 7%
$499,114
Cap Rate 9%
$388,200
Alternative Uses
Best Use
Specialty Retail
$499.1K
$436.7K – $582.3K
NOI $34,938 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$946.8K
$828.5K – $1.10M
NOI $66,276 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
16k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 100%
Schnucks
Groceries
16,387 visits/mo
0.2 miles
Demographics for 63084, MO
19,500
Population
8,511
Households
2.3
Avg Household Size
38
Median Age
21%
College-Educated
90%
High-School Grad
76.3 sq mi
ZIP Area
256
Density / Sq Mi
$72,332
Median Household Income
$42,327
Median Earnings
$852
Median Rent
$221,800
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Existing dining, bar, kitchen, lobby, and restrooms support continued restaurant use.
Where is this conventional restaurant located?
The property is located at 1298 N Highway 47 Union, MO.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,216‑square‑foot building on a 0.75‑acre parcel; Restaurant layout includes open dining, bar, lobby, kitchen, and 2 restrooms; Faces Highway 47 in Union, Missouri
