Industrial Flex Property with
For Sale
$679,000
705 Ada Street, Adrian, MO 64720
Commercial Sale, Adrian, MO
Property Size9,356 SF
Lot Size2.75 Acres
Price / SF$72.57
Days on Market22
Property Features for 705 Ada Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M-2
Parking
5
Parking features
Garage, Parking Lot
Directions
From Interstate 49 at exit 141 turn west towards town and take first left and head one block south to property.
Subdivision
230 - Bates County, Mo
Standard status
Active
APN
Multiple see remarks
Lot size
2.75 Acres
Taxes and HOA fees
Tax Description
Lots 11, 11.01 & 12 LOT BLOCK H SMITH'S ADDITION
Tax Annual Amount
1863
Legal Description
Lots 11, 11.01 & 12 LOT BLOCK H SMITH'S ADDITION
Utilities
Utilities
Water Available
Amenities
office
restroom
overhead doors
private offices
full bathroom with shower
kitchen
receptionist area
high-clearance industrial space
Building Details
Floors in Building
1
Listing Agency:
Platinum Realty LLC
(888) 220-0988
Listed By:
Christopher Beshore
(816) 289-1521
Added: Jul 31
Changed: Aug 19
Last Checked: Aug 21 at 12:06AM
MLS# 2634591
Copyright © 2026 Heartland Multiple Listing Service. 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 flex property at 705 Ada Street combines a 6,000 SF steel-frame shop with a 300 SF office and restroom, plus a separate 1,800 SF wood-frame and metal shop. The secondary building has five overhead doors for vehicle, equipment, and material access. A dedicated 1,256 SF office building adds three private offices, a receptionist area, kitchen, and full bathroom with shower.
The property is zoned M-2 Industrial and is currently leased to a diesel mechanic and engine repair business. Garage and parking-lot features support on-site vehicle and equipment use, while available water service is listed among the utilities. The site includes approximately 2.75 acres, although the source information also describes the acreage as over 2.75 acres.
The property is zoned M-2 Industrial and is currently leased to a diesel mechanic and engine repair business. Garage and parking-lot features support on-site vehicle and equipment use, while available water service is listed among the utilities. The site includes approximately 2.75 acres, although the source information also describes the acreage as over 2.75 acres.
Key Highlights
- 6,000 SF steel‑frame shop with 300 SF office and restroom
- 1,800 SF secondary shop with five overhead doors
- 1,256 SF office building with three private offices and kitchen
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
$54,295
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
8.00%
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%
$1,085,900
$1.1M
Cap Rate 7%
$775,643
$775.6K
Cap Rate 9%
$603,278
$603.3K
Market Conditions
NOI Build-Up for 9,356 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
$89.8K $9.60/SF
− Vacancy
−$6.3K −$0.67/SF
EGI
$83.5K $8.93/SF
− OpEx
−$29.2K −$3.12/SF
NOI
$54.3K $5.80/SF
Area
Bates County, MO
Vacancy
7.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,085,900
Cap Rate 7%
$775,643
Cap Rate 9%
$603,278
Alternative Uses
Best Use
Retail
$2.07M
$1.81M – $2.41M
NOI $144,707 @ 7.0% cap · market cap 21.31%
Second Best
Office B
$1.84M
$1.61M – $2.15M
NOI $129,067 @ 7.0% cap · market cap 19.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Drive-in doors
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 64720, MO
3,869
Population
1,735
Households
2.2
Avg Household Size
43
Median Age
12%
College-Educated
91%
High-School Grad
132.8 sq mi
ZIP Area
29
Density / Sq Mi
$72,619
Median Household Income
$39,219
Median Earnings
$754
Median Rent
$163,100
Median Home Value
Market
Vacancy Rate% for Office 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?
Flex space - Combined industrial, vehicle-service, and administrative improvements are configured for active commercial operations.
Where is this flex space located?
The property is located at 705 Ada Street Adrian, MO.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 6,000 SF steel‑frame shop with 300 SF office and restroom; 1,800 SF secondary shop with five overhead doors; 1,256 SF office building with three private offices and kitchen
