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    Event Center with I-44 Frontage Title is generated by Realmo AI

    1701 Martin Springs Drive, Rolla, MO 65401

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    For Sale
    $1,290,000

    Commercial Sale - Rolla, MO

    Property size:
    14,816 SF
    Lot size:
    1.36 Acres
    Price / SF:
    $87/SF
    Added:
    May 29, 2025
    Days on Market:
    354
    Last Refresh:
    May 17 at 6:06 am

    Property Features for 1701 Martin Springs Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    71-09-2.0-10-003-002-008.001
    Size
    14,816 SF
    Lot size
    1.36 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    15367

    Utilities

    Heating system
    Electric (Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1960
    Building materials
    Block, Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Michael Woessner

    Listing agent Michael Woessner License #1999022373

    Listing office Investment Realty, Inc. 1703 N BISHOP, Rolla, MO

    Listing date May 29, 2025

    MLS# 25036489 Listing URL

    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.

    HighLights

    • Excellent I‑44 visibility on 1.36 m/l acres.
    • Large 15,000 m/l sq ft building suitable for various ventures.
    • Includes a 4,000 m/l sq ft dance hall with state‑of‑the‑art sound, lighting, and LED dance floor.
    • 7,000 m/l sq ft dining hall with a fully equipped commercial kitchen.
    • Multi‑zone heating and cooling, separate entrances, bars, and restrooms for flexible use.
    • 98 parking spaces and occupancy for over 650 guests.

    Overview

    This 14,816 square foot building is situated on a 1.363-acre lot and offers visibility from I-44. Currently configured as an event center, the property includes a 4,000 square foot dance hall equipped with a sound and lighting system, as well as an LED dance floor. The 7,000 square foot dining hall features a fully equipped commercial kitchen. The building has multi-zone heating and cooling, which allows for independent temperature control in different areas. Separate entrances, bars, and restrooms provide flexible use for multiple events or functions. The property has 98 parking spaces and can accommodate over 650 guests. It is suited for use as an event space or other ventures. The property is located in Rolla, Missouri.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Buckin' Hot Catering Catering Service Signature Event Center Hotel & Motel Mosaic Church Church

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Rolla
    County
    Phelps
    State
    Missouri
    Longitude
    -91.8008304
    Latitude
    37.9403771

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    FAQs

    What type of property is this?
    Turn key restaurant - 15,000 SF building on 1.36 acres with I-44 frontage.
    Where is this turn key restaurant located?
    The property is located at 1701 Martin Springs Drive Rolla, MO.
    What is the asking price?
    The asking price for this property is $1,290,000.
    What are key features of this property?
    This property features: Excellent I‑44 visibility on 1.36 m/l acres.; Large 15,000 m/l sq ft building suitable for various ventures.; Includes a **4,000 m/l sq ft dance hall with state‑of‑the‑art sound, lighting, and LED dance floor.**
    (573) 364-8111
    We can help!
    Listing Contact
    Michael Woessner
    Real Estate License ID: 1999022373
    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.

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