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    Mixed-Use Retail and Restaurant Building Title is generated by Realmo AI

    331 S Main Street, Carthage, MO 64836

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    Claim this Listing
    For Sale
    Under Contract
    $649,900

    COMMERCIAL - Carthage, MO

    Property size:
    14,924 SF
    Lot size:
    0.20 Acres
    Price / SF:
    $43/SF
    Added:
    Jan 16, 2026
    Days on Market:
    140
    Last Refresh:
    Jun 5 at 1:06 am

    Property Features for 331 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    5
    Rooms
    Bathroom 5, Bathroom 1, Basement, Bathroom 4, Bathroom 3, Bathroom 2
    Standard status
    Active Under Contract
    Size
    14,924 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2289

    Utilities

    Utilities
    Electricity Available
    Heating system
    Central, Heat Pump (Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1896
    Number of units
    1
    Flooring type
    Hardwood, Laminate, Carpet
    Roof type
    Rolled Hot Mop

    We can help!

    Listing Contact
    FORREST. Real Estate Forrest Stodghill

    Listing agent FORREST. Real Estate Forrest Stodghill License #2015033149

    Listing office Real Broker, LLC 800 E 101st Terrace Ste. 350, Kansas City, MO

    Listing date Jan 16, 2026

    MLS# 260299

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

    HighLights

    • 1896‑built mixed‑use property near the Carthage, MO square with nearly 15,000 total space for restaurant/retail and an apartment.
    • Restaurant/retail space plus separate income‑producing retail space with approximately 3 years remaining on the lease.
    • 4 bed/2 bath apartment—live in or rent out for additional income.
    • Recent updates include LED lighting throughout and new upper storefront windows and trim.
    • Electrical and exterior upgrades include 200 amp electric panels for both the restaurant and the apartment, plus new EIFS on the north exterior wall.
    • Storefront improvements include ceramic tint on the storefront windows; apartment entrance has a deck.

    Overview

    This mixed-use property includes restaurant and retail space, along with a separate income-producing retail space that has approximately three years remaining on the lease. It also features a 4 bed, 2 bath apartment that can be owner-occupied or rented for additional income. Improvements noted include LED lighting throughout, ceramic tint on the storefront windows, new upper storefront windows and trim, new EIFS on the north exterior wall, a deck at the apartment entrance, and 200-amp electric panels for both the restaurant and the apartment.

    Located at 331 S Main Street in Carthage, Missouri, the building sits on a 0.2-acre lot and totals 14,924 square feet. The layout supports operating commercial space while also maintaining a separate residential component on-site.

    For operators seeking a live-and-work setup, the on-site apartment provides flexibility for personal use or rental income. For investors, the combination of restaurant/retail operations and a separately leased retail unit can help diversify cash-flow within one property. The recent updates to lighting, storefront elements, exterior EIFS, and electrical service are intended to reduce near-term downtime while maintaining both commercial and residential functionality.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Carthage
    County
    Jasper
    State
    Missouri
    Longitude
    -94.311391
    Latitude
    37.176459

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    FAQs

    What type of property is this?
    Mixed-use property - Restaurant/retail space plus a separate leased retail unit and a 4-bed apartment support multiple income streams.
    Where is this mixed-use property located?
    The property is located at 331 S Main Street Carthage, MO.
    What is the asking price?
    The asking price for this property is $649,900.
    What are key features of this property?
    This property features: 1896‑built mixed‑use property near the Carthage, MO square with nearly 15,000 total space for restaurant/retail and an apartment.; Restaurant/retail space plus separate income‑producing retail space with approximately 3 years remaining on the lease.; 4 bed/2 bath apartment—live in or rent out for additional income.
    (417) 483-0149
    We can help!
    Listing Contact
    FORREST. Real Estate Forrest Stodghill
    Real Estate License ID: 2015033149
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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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