White-Box-Ready Two-Floor Retail
For Sale
$525,000
95 Independence Drive, Union, MO 63084
Commercial Sale, Union, MO
Property Size3,840 SF
Lot Size1.00 Acre
Price / SF$136.72
Days on Market63
Property Features for 95 Independence Drive
General Information
Property type
Land
Property subtype
Other
Directions
Hwy 44 to Hwy 50 to right on Hwy 47 to left on Independence. From Washington Hwy 100 to South on Hwwy 47 to right on Independence
Subdivision
362 - Union R-11
Standard status
Active
APN
17-6-230-0-099-035200
Size
3,840 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2023
Tax Description
NW corner Hwy 47 and Independence
Tax Annual Amount
5530
Legal Description
NW corner Hwy 47 and Independence
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2019
Floors in Building
2
Building materials
Metal Siding
Roof type
Flat, Metal
Listing Agency:
RE/MAX Results · RE/MAX International
(636) 239-3003
Listed By:
Janie Schriewer · License #1999117614
(314) 781-7777
Added: Jun 22
Changed: Aug 19
Last Checked: Aug 23 at 9:06PM
MLS# 25002547
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.
Investment Insights
Based on property information with market context.
White-box-ready two-floor retail space situated on a 1-acre lot, built in 2019. The space is designed as open, customizable floorplates to support a range of retail and service concepts, with multiple entrances on each floor. Construction includes metal siding and a metal flat roof.
The property is located at a stoplight intersection along Highway 47 between Washington and Union, with over 20,000 vehicles per day for strong daily visibility and access. Parking includes 11 spaces that are expandable, and the site has potential for a drive-thru to improve customer convenience and flow.
Utilities include public water availability and public sewer. The building is equipped with forced air electric heating and central air with electric cooling.
The property is located at a stoplight intersection along Highway 47 between Washington and Union, with over 20,000 vehicles per day for strong daily visibility and access. Parking includes 11 spaces that are expandable, and the site has potential for a drive-thru to improve customer convenience and flow.
Utilities include public water availability and public sewer. The building is equipped with forced air electric heating and central air with electric cooling.
Key Highlights
- 1‑acre lot with a 3,840 SF two‑floor retail space built in 2019
- Over 20,000 vehicles per day at a stoplight intersection on Highway 47 between Washington and Union
- Two open, customizable floors with multiple entrances on each level
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
$36,154
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
6.89%
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%
$723,080
$723.1K
Cap Rate 7%
$516,486
$516.5K
Cap Rate 9%
$401,711
$401.7K
Market Conditions
NOI Build-Up for 3,840 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
$53.9K $14.04/SF
− Vacancy
−$2.3K −$0.59/SF
EGI
$51.6K $13.45/SF
− OpEx
−$15.5K −$4.04/SF
NOI
$36.2K $9.42/SF
Area
Franklin County, MO
Vacancy
4.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$723,080
Cap Rate 7%
$516,486
Cap Rate 9%
$401,711
Alternative Uses
Best Use
Office B
$739.4K
$647.0K – $862.6K
NOI $51,757 @ 7.0% cap · market cap 9.86%
Second Best
Retail
$516.5K
$451.9K – $602.6K
NOI $36,154 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$1.13M
$989.2K – $1.32M
NOI $79,135 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Explore this area
Business Placement
Demographics for 63084, MO
19,500
Population
8,511
Households
2.3
Avg Household Size
38
Median Age
21%
College-Educated
90%
High-School Grad
76.3 sq mi
ZIP Area
256
Density / Sq Mi
$72,332
Median Household Income
$42,327
Median Earnings
$852
Median Rent
$221,800
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?
Retail space - Two-floor open retail space on a 1-acre lot with public water and public sewer.
Where is this retail space located?
The property is located at 95 Independence Drive Union, MO.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1‑acre lot with a 3,840 SF two‑floor retail space built in 2019; Over 20,000 vehicles per day at a stoplight intersection on Highway 47 between Washington and Union; Two open, customizable floors with multiple entrances on each level
