Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land Ready for Redevelopment Title is generated by Realmo AI

    509 S Bishop Avenue, Rolla, MO 65401

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $695,000

    Commercial Sale - Rolla, MO

    Lot size:
    0.75 Acres
    Added:
    Apr 2, 2026
    Days on Market:
    50
    Last Refresh:
    May 21 at 9:06 pm

    Property Features for 509 S Bishop Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    71-09-1.0-11-003-015-006.000
    Lot size
    0.75 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    2620

    Building Details

    Year built
    1940
    Building materials
    Unknown
    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 Apr 2, 2026

    MLS# 25041087 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

    • Prime commercial redevelopment location next to Applebee's and across from Walmart.
    • Zoned C‑2, suitable for retail, restaurant, or office projects.
    • High visibility and steady traffic flow.
    • 0.75 acre parcel offering a clean slate after razing existing vacant houses.
    • Surrounded by national retailers.
    • Available for sale or lease at $3,500/month with build‑to‑suit option.

    Overview

    This 0.75-acre parcel is positioned next to Applebee’s and directly across from Walmart, making it suitable for commercial redevelopment. The property includes two vacant houses ready to be razed, offering a clean slate for a retail, restaurant, or office project. Zoned C-2 and surrounded by national retailers, this site benefits from excellent visibility and steady traffic. The property is located in Rolla, Missouri.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Rolla
    County
    Phelps
    State
    Missouri
    Longitude
    -91.7770596
    Latitude
    37.9398784

    Nearby Similar for Sale

    • $320,000
      2,544 SF

      Rolla Retail Investment Opportunity

      Well-maintained commercial building in Rolla, MO, ideal for investors.
      404 E Highway 72, Rolla, MO 65401
      View Details
    • $995,000
      12,626 SF

      Rustic Motel in High-Traffic Area

      Two-story, 25-room motel on 1.05 acres in Rolla, MO.
      812 S Bishop Avenue, Rolla, MO 65401
      View Details
    • $344,999
      4,664 SF

      Versatile Warehouse and Office Space

      4,662 sq ft building on 1.5 acres in Rolla.
      12445 State Route CC, Rolla, MO 65401
      View Details
    • $5,400,000
      8,030 SF

      Truck Wash Near I-44

      8,030 SF truck wash on 3.08 acres near I-44.
      3500 Enterprise Drive, Rolla, MO 65401
      View Details
    • $1,690,000
      6,472 SF

      Mixed-Use Property on 7.57 Acres

      Mixed-use property with highway access and income generation potential.
      363 Doolittle Outer Road, Rolla, MO 65401
      View Details
    • $219,500
      2,240 SF

      Equipped Shop on Unrestricted Acres

      Fully equipped shop on 3.3 acres, ideal for business.
      13134 County Road 7000, Rolla, MO 65401
      View Details
    • $439,000
      6,956 SF

      Mixed-Use Property with I-44 Frontage

      Versatile commercial property with residential home and interstate visibility.
      15890 County Road 8140, Rolla, MO 65401
      View Details
    • $1,690,000
      6,400 SF

      Versatile Commercial Property with Highway Access

      7.57 acres with highway frontage, multiple buildings, and income potential.
      363 Doolittle Outer Road, Rolla, MO 65401
      View Details
    • $475,000
      672 SF

      Prime Land Ready for Development

      0.97 acres of land in a high-traffic area.
      100 Highway 72 W, Rolla, MO 65401
      View Details
    • $1,000,000

      Rolla Land Development Opportunity

      8.3 acres zoned for residential and commercial development.
      1349 E Hwy 72, Rolla, MO 65401
      View Details
    • $254,500
      3,092 SF

      Rolla Retail on Historic Route

      1.29-acre retail property with frontage on I-44.
      12661 Old Highway 66, Rolla, MO 65401
      View Details
    • $485,000
      912 SF

      Rolla Ranch with Acreage

      42.10 acres near Gasconade River with ranch-style home.
      16748 State Route E, Rolla, MO 65401
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime commercial land for redevelopment in high-traffic area.
    Where is this commercial land located?
    The property is located at 509 S Bishop Avenue Rolla, MO.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: Prime commercial redevelopment location next to Applebee's and across from Walmart.; Zoned C‑2, suitable for retail, restaurant, or office projects.; High visibility and steady traffic flow.
    (573) 364-8111
    We can help!
    Listing Contact
    Michael Woessner
    Real Estate License ID: 1999022373
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    509 S Bishop Avenue, Rolla, MO 65401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!