Updated Mixed-Use Storefront
For Sale
$145,000
318 Broadway Street, Elsberry, MO 63343
COMMERCIAL - Elsberry, MO
Property Size1,000 SF
Lot Size0.05 Acres
Price / SF$145
Days on Market33
Property Features for 318 Broadway Street
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Dishwasher, Instant Hot Water, Microwave, Oven, Electric Oven, Refrigerator
Subdivision
460 - Elsberry R-2
Standard status
Active
APN
028028001011008000
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
863
Utilities
Utilities
Phone Available
Heating system
Electric (Heating)
Cooling system
Wall Unit(s)
Water source
Public
Amenities
new flooring
new paint
new lighting
renovated bathroom
updated electrical
new windows
new doors
new wall A/C
new heating
new kitchen cabinets
new countertops
new appliances
mini-split systems
Building Details
Year built
1920
Floors in Building
2
Flooring type
Laminate
Building materials
Brick, Frame
Listing Agency:
Cannon Realty, Inc.
(636) 462-5400
Listed By:
Megan Miller · License #2004021003
(636) 462-5400
Added: Jul 22
Changed: Aug 19
Last Checked: Aug 23 at 4:06PM
MLS# 26043256
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 mixed-use property features approximately 1,000 square feet of office or retail area on the main level, including a storefront, with a one-bedroom apartment above. The upper residence may accommodate a second bedroom. Recent work includes new flooring, interior paint, lighting, bathroom improvements, electrical updates, replacement windows and doors, and new wall-mounted air conditioning and heating. The apartment also has refreshed cabinetry, countertops, appliances, and two mini-split systems.
Construction combines brick and frame elements, with laminate flooring, electric heat, wall-unit cooling, and public water service. Included appliances are a dishwasher, microwave, oven, electric oven, refrigerator, and instant hot water equipment. The parcel contains 0.046 acres, and the neighboring vacant lot is excluded from the property.
Construction combines brick and frame elements, with laminate flooring, electric heat, wall-unit cooling, and public water service. Included appliances are a dishwasher, microwave, oven, electric oven, refrigerator, and instant hot water equipment. The parcel contains 0.046 acres, and the neighboring vacant lot is excluded from the property.
Key Highlights
- Approximately 1,000 sq. ft. of main‑level office or retail space with a storefront
- Upper‑level 1‑bedroom apartment with potential for a second bedroom
- Apartment updates include cabinets, countertops, appliances, and two mini‑split systems
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
$12,150
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
8.38%
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%
$243,000
$243.0K
Cap Rate 7%
$173,571
$173.6K
Cap Rate 9%
$135,000
$135.0K
Market Conditions
NOI Build-Up for 1,000 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
$21.6K $21.60/SF
− Vacancy
−$2.2K −$2.16/SF
EGI
$19.4K $19.44/SF
− OpEx
−$7.3K −$7.29/SF
NOI
$12.2K $12.15/SF
Area
Lincoln County, MO
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$243,000
Cap Rate 7%
$173,571
Cap Rate 9%
$135,000
Alternative Uses
Best Use
Mixed Use
$173.6K
$151.9K – $202.5K
NOI $12,150 @ 7.0% cap · market cap 8.38%
Second Best
Retail
$134.8K
$117.9K – $157.3K
NOI $9,435 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$247.3K
$216.4K – $288.5K
NOI $17,311 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Casey's General Store
Shops & Services
8,639 visits/mo
0.2 miles
FedEx Office Print & Ship Center
Shops & Services
4,291 visits/mo
0.5 miles
Family Dollar
Shops & Services
2,753 visits/mo
0.2 miles
Shell
Shops & Services
2,620 visits/mo
0.2 miles
People's United Bank
Shops & Services
1,623 visits/mo
0.1 miles
Demographics for 63343, MO
4,459
Population
1,849
Households
2.4
Avg Household Size
43
Median Age
15%
College-Educated
91%
High-School Grad
111.4 sq mi
ZIP Area
40
Density / Sq Mi
$71,523
Median Household Income
$40,727
Median Earnings
$933
Median Rent
$149,300
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?
Mixed-use property - Two-level configuration combines storefront commercial space with an updated upstairs apartment.
Where is this mixed-use property located?
The property is located at 318 Broadway Street Elsberry, MO.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Approximately 1,000 sq. ft. of main‑level office or retail space with a storefront; Upper‑level 1‑bedroom apartment with potential for a second bedroom; Apartment updates include cabinets, countertops, appliances, and two mini‑split systems
