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    518 1st St Glasgow, MO 65254

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    For Sale
    $408,000

    COMMERCIAL - Glasgow, MO

    Property size:
    3,080 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $132/SF
    Added:
    Jan 9, 2026
    Days on Market:
    105
    Last Refresh:
    Apr 24 at 7:06 am

    Property Features for 518 1st St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    Size
    3,080 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2361

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air, Multi Units
    Water source
    Public

    Building Details

    Year built
    1880
    Floors in Building
    1
    Building materials
    Brick, Wood Siding, Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Christy Ames

    Listing agent Christy Ames License #2008009039

    Listing office Advantage Real Estate Moberly, MO

    Listing date Jan 9, 2026

    MLS# 26-12

    Copyright © 2026 Randolph County Board 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.

    Overview

    Renovated Commercial Office Space

    This commercial office space is located in downtown Glasgow, Missouri, along the Missouri River. Originally constructed in 1880, the building has undergone a complete renovation while maintaining its original character. Upgrades include a newer metal roof, two 4-ton heating and cooling units, and updated electrical and plumbing systems. The property is currently leased to a business at $4,000 per month through the end of 2027 under a Triple Net lease, where the tenant is responsible for taxes, insurance, and utilities. The property size is 3,080 square feet and the lot size is 0.09 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Glasgow
    County
    Howard
    State
    Missouri
    Longitude
    -92.846836
    Latitude
    39.225695

    Nearby Similar for Sale

    • $125,000
      1,365 SF

      Renovated Commercial Building in Glasgow

      Turn-key commercial building in historic Glasgow, MO for sale.
      608 1st St, Glasgow, MO 65254
      View Details
    • $60,000
      405 SF

      Renovated Commercial Building in Glasgow

      Turn-key commercial building in historic Glasgow, MO. Leased through 2026.
      605 2nd St, Glasgow, MO 65254
      View Details
    • $248,000

      Commercial Building in Glasgow, MO

      Versatile commercial complex with apartment and room to build.
      1200 Randolph St, Glasgow, MO 65254
      View Details

    FAQs

    What type of property is this?
    Office building - Historic office space in downtown Glasgow, MO. Leased until 2027.
    Where is this office building located?
    The property is located at 518 1st St Glasgow, MO.
    What is the asking price?
    The asking price for this property is $408,000.
    What are key features of this property?
    This property features: Prime downtown Glasgow location on the Missouri River.; Currently leased at $4,000/month through 2027 under a Triple Net lease.; Fully renovated historic building blending charm with modern updates.
    (660) 833-5828
    We can help!
    Listing Contact
    Christy Ames
    Real Estate License ID: 2008009039
    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.

    More about this property
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