Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    230 N Sprigg St Cape Girardeau, MO 63701

    Sponsored
    For Lease
    $2,500 /Mo ($10 SF/Yr)

    Unimproved Land - Cape Girardeau, MO

    Type:Unimproved Land
    Property size:
    2,937 SF
    Lot size:
    0.25 Acres
    Days on Market:
    205
    Last Refresh:
    Jan 20 at 10:06 pm

    Property Features for 230 N Sprigg St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    21-107-00-06-01500-0000
    Parking features
    Open, Parking Lot, Paved or Surfaced
    Size
    2,937 SF
    Lot size
    0.25 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1953
    Building materials
    Brick
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Amy Chiles

    Main Key Realty, LLC (314) 753-8111 [email protected]

    Listing agent Amy Chiles (573) 283-3334 License #2017027227

    Listing date Jun 30, 2025

    MLS# 24048076 Listing URL

    Copyright © 2026 MARIS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Commercial Space For Lease

    This property offers significant potential, featuring approximately 3000 square feet of renovated space. Situated in a prime location with road frontage on North Sprigg Street, it benefits from high traffic. The building includes a new A/C system, roof, gutters, flooring, fixtures, bathrooms, kitchenette, and siding, with newly tuckpointed exterior. It is located in the Business District, offering great visibility suitable for a commercial storefront, office building, or personal services. The location is right in the midst of downtown activities. The lot size is 0.252 acres. It has rental income potential and space for multiple offices or service providers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    SEMO Safehouse Thrift ... Clothing Store Main Key Realty ... Real Estate Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Girardeau
    County
    Cape Girardeau
    State
    Missouri
    Longitude
    -89.526289
    Latitude
    37.307608

    Nearby Similar for Lease

    • $5,641 /Mo
      6,770 SF

      Office Suite in Cape Girardeau

      Office suite with high visibility and traffic in Cape Girardeau.
      450 Siemers Dr, Cape Girardeau, MO 63701
      View Details
    • $5,500 /Mo
      Pending

      Cape Girardeau Office Space Available

      Well-maintained commercial property with ample space in a convenient location.
      340 S Broadview St, Cape Girardeau, MO 63703
      View Details
    • Contact for pricing
      46,692 SF

      Lambert Plaza Retail Space

      Cape Girardeau, MO Retail Opportunity
      155 Siemers Dr, Cape Girardeau, MO 63701
      View Details
    • Contact for pricing
      23,464 SF

      West Park Strip Center Retail Space

      High-traffic retail center; two spaces available.
      250 Silver Springs Rd, Cape Girardeau, MO 63703
      View Details
    • Contact for pricing
      79,122 SF

      West Park Mall Medical Office Space

      Missouri medical office suites for lease
      3049 William St, Cape Girardeau, MO 63703
      View Details
    • $36 SF/Yr
      8,200 SF

      HubCo Coworking Office Space

      Modern Cape Girardeau Office Suites
      1427 Thomas Dr, Cape Girardeau, MO 63701
      View Details
    • Contact for pricing
      4,970 SF

      Retail Space Near West Park

      Retail space in regional shopping hub with high visibility.
      3036-3048 William St, Cape Girardeau, MO 63703
      View Details
    • Contact for pricing
      3,154 SF

      Retail Space Near St. Francis

      Retail space available across from St. Francis Medical Center.
      3049 Williams St, Cape Girardeau, MO
      View Details
    • Contact for pricing
      9,400 SF

      Regional Shopping Center Near I-55

      Regional shopping center with easy access to Interstate 55.
      155-157 Siemers Dr, Cape Girardeau, MO 63701
      View Details
    • Contact for pricing
      7,908 SF

      Retail Space Near West Park

      Retail space in regional shopping hub with easy Interstate access.
      3047 William St, Cape Girardeau, MO 63703
      View Details
    • Contact for pricing
      1,595 SF

      Retail Space Near West Park

      Retail space available in regional shopping hub near West Park.
      240-250 S Silver Springs Rd, Cape Girardeau, MO 63703
      View Details
    • Contact for pricing
      10,800 SF

      Retail Space Near Interstate 55

      Retail space in regional shopping hub with interstate access.
      258 Siemers Dr, Cape Girardeau, MO 63701
      View Details

    FAQs

    What type of property is this?
    Office space - Renovated commercial space with high visibility in a prime location.
    Where is this office space located?
    The property is located at 230 N Sprigg St Cape Girardeau, MO.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: - Prime location with high traffic and road frontage on N Sprigg St, offering excellent visibility in the Business District.; - Almost 3000 sq ft of renovated space suitable for multiple offices or service providers.; - Completely renovated with brand new A/C, roof, gutters, flooring, fixtures, bathrooms, kitchenette, and siding.
    (573) 421-3255
    Request Owner's contact information
    230 N Sprigg St Cape Girardeau, MO 63701
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    230 N Sprigg St
    Cape Girardeau, MO 63701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    230 N Sprigg St Cape Girardeau, MO 63701
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Amy Chiles
    Real Estate License ID: 2017027227
    (573) 421-3255
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.