Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    821 E Promenade St Mexico, MO 65265

    Sponsored
    For Sale
    $209,000

    Residential Income, Apartment Style - Mexico, MO

    Property size:
    2,651 SF
    Lot size:
    0.24 Acres
    Days on Market:
    7
    Last Refresh:
    Jan 19 at 5:06 am

    Property Features for 821 E Promenade St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    19-7-25-2-022-007
    Parking features
    Driveway, Off Street
    Interior features
    Ceiling Fan(s), Eat-in Kitchen, Kitchen/Dining Room Combo, Laminate Counters, Tub, Walk-in Closet(s)
    Appliances
    Dishwasher, Dryer, Range, Refrigerator, Washer, Washer/Dryer Combo
    Size
    2,651 SF
    Lot size
    0.24 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1925
    Number of units
    2
    Flooring type
    Carpet, Laminate, Linoleum, Vinyl
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Cary Smith

    Realty 365 LLC (573) 567-3936 [email protected]

    Listing agent Cary Smith (573) 567-3936 License #2024000810

    Listing date Jan 13, 2026

    MLS# 26002312 Listing URL

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

    Learn more

    Property Insight Report

    Overview

    Updated Duplex with Income Potential

    This well-maintained duplex offers income potential and convenient features. Each side of the property has 2 bedrooms and 2 full baths, one upstairs and one downstairs for added privacy. Both units feature open kitchens, cabinets and storage, and walk-in closets. Each unit includes off-road parking around back, front and back decks, and laundry rooms. The property has been updated with fresh paint, new flooring, and some new appliances. The duplex presents excellent rental income potential. Unit 821 is currently leased for $825, and unit 823 is vacant for showing purposes and has income potential of $900. Unit 821 was updated in November 2025. A new roof was installed in June 2019, a brand new HVAC system was installed in unit 823 in January 2026, and new water lines were installed in 2018. New hot water heaters were installed in both units in 2025. Unit 823 has a new refrigerator, range, and dishwasher and includes a washer and dryer. Unit 821 has a new dishwasher installed in December 2025 and a new refrigerator installed in 2023, and a brand new HVAC system installed in January 2026. The property is located in Mexico, MO, and sits on a lot of 0.2355 acres. The property size is 2651 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Mexico
    County
    Audrain
    State
    Missouri
    Longitude
    -91.87483749
    Latitude
    39.17140365

    Nearby Similar for Sale

    • $185,000
      Pending

      Retail and Apartment Investment Opportunity

      Combined retail and apartment spaces for sale in Mexico, MO.
      116 S Washington St, Mexico, MO 65265
      View Details
    • $247,000
      5,344 SF

      Former Equipment Rental Facility

      Main highway location with showroom, offices, and storage.
      1900 E Liberty St, Mexico, MO 65265
      View Details
    • $4,499,692
      119,219 SF

      Established Retail Center For Sale

      Value-add opportunity in Mexico, MO, with long-term tenants.
      500-700 W Jackson St, Mexico, MO 65265
      View Details
    • $889,000
      114.70 Acres

      Missouri Farm For Sale

      114.7 acre farm in Mexico, Missouri available for purchase.
      00 Audrain Road 929, Mexico, MO 65265
      View Details

    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex with updates, convenient features, and excellent rental income potential.
    Where is this duplex located?
    The property is located at 821 E Promenade St Mexico, MO.
    What is the asking price?
    The asking price for this property is $209,000.
    What are key features of this property?
    This property features: - Excellent rental income potential: Unit 821 is currently leased for $825, and unit 823 can be leased for $900.; - Each unit has 2 bedrooms and 2 full bathrooms, with one bathroom upstairs and one downstairs.; - Recent updates include new HVAC systems (Jan 2026), new hot water heaters (2025), fresh paint, and new flooring.
    (573) 567-3936
    Request Owner's contact information
    821 E Promenade St Mexico, MO 65265
    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.
    821 E Promenade St
    Mexico, MO 65265
    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
    821 E Promenade St Mexico, MO 65265
    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

    We can help!
    Listing Contact
    Cary Smith
    Real Estate License ID: 2024000810
    (573) 567-3936
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.