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    700 S Walnut Street Steele, MO 63877

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    For Sale
    $279,000

    Commercial Sale, Other - Steele, MO

    Property size:
    3,780 SF
    Lot size:
    2.30 Acres
    Added:
    Jun 12, 2025
    Days on Market:
    314
    Last Refresh:
    Apr 21 at 7:06 am

    Property Features for 700 S Walnut Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Bedrooms
    1
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1
    Standard status
    Active
    Size
    3,780 SF
    Lot size
    2.30 Acres

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1930
    Building materials
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Tina Privett

    Listing agent Tina Privett

    Listing office American Elite Realty 309 South Bypass, Kennett, MO

    Listing date Jun 12, 2025

    MLS# 16339 Listing URL

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

    Overview

    Steele Commercial Property on Highway

    This commercial property is located on State Highway 61 in Steele, Missouri, approximately 20 miles from Blytheville, Arkansas, 30 miles from Osceola, Arkansas, and 40 miles from Dyersburg, Tennessee. The fenced property spans 2.30 acres and includes a 3780-square-foot store front and office area, along with an attached 1334-square-foot warehouse. There is also approximately 2600 square feet of covered storage. In total, the property features seven buildings, including the office, warehouse, and covered storage building. Previously used as a lumber company, this property is suitable for various businesses, such as a trucking company, welders, steel mill contractors, construction company, or retail business. It also presents an opportunity as an investment property with the potential for multiple leases.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Woods Lumber Co ... Plumbing Service

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store Hotel & Motel

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

    Similar Places Nearby

    • Still Gin & Grain — 110 Michie St, Steele, MO 63877
    • Extreme Rentals Mini Storage — 741 S Walnut St, Steele, MO 63877, United States

    Location Insight

    • Map
    • Local Demand
    City
    Steele
    County
    Pemiscot
    State
    Missouri
    Longitude
    -89.822545
    Latitude
    36.088219

    Nearby Similar for Sale

    • $264,000
      4,619 SF

      Restaurant Ready Commercial Property

      Commercial property with restaurant layout, prime location, great visibility.
      322 S Walnut, Steele, MO 63877
      View Details
    • $264,000
      4,619 SF

      Commercial Building in Steele, Missouri

      Commercial building for sale in Steele, Missouri.
      322 S Walnut, Steele, MO 63877
      View Details

    FAQs

    What type of property is this?
    Warehouse - Commercial property with store front, warehouse, and multiple storage buildings.
    Where is this warehouse located?
    The property is located at 700 S Walnut Street Steele, MO.
    What is the asking price?
    The asking price for this property is $279,000.
    What are key features of this property?
    This property features: 2.30 Acres +/- Commercial Property on State Highway 61; 3780 SQ FT Store front and office with attached 1334 warehouse; Multiple Storage Buildings and Covered Storage Approximately 2600 SQ FT
    (573) 888-5373
    We can help!
    Listing Contact
    Tina Privett
    Real Estate License ID: 2008014220
    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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