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    The Largest CRE Database in the US with Over 1 Million Listings

    98 Turkey Ridge Ln Steelville, MO 65565

    Sponsored
    For Sale
    $800,000

    Cottage,Modern,Ranch, Farm - Steelville, MO

    Type:Farm
    Property size:
    3,658 SF
    Lot size:
    40.00 Acres
    Days on Market:
    27
    Last Refresh:
    Jan 29 at 9:06 pm

    Property Features for 98 Turkey Ridge Ln

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    3
    APN
    13-1.0-11-0-00-006.010
    Parking features
    Garage, Garage - Attached, Workshop
    Interior features
    Bookcases, Breakfast Bar, Breakfast Room, Dining/Living Room Combo, In-law Floorplan, Kitchen/Dining Room Combo, Workshop/Hobby Area
    Exterior features
    Garden, Gray Water System, Outdoor Kitchen
    Fireplace
    1
    Appliances
    Dishwasher, Oven - Gas, Refrigerator, Washer
    Size
    3,658 SF
    Lot size
    40.00 Acres

    Utilities

    Heating system
    Electric (Heating), Fireplace(s), Radiant, Wood (Heating)
    Cooling system
    Central Air
    Water front features
    Pond, Waterfront
    Water front
    1

    Building Details

    Year built
    2005
    Floors in Building
    1
    Flooring type
    Tile, Tile - Ceramic
    Building materials
    Straw, Stucco
    Roof type
    Metal
    Architectural style
    Cottage
    Additional Structures
    Outdoor Kitchen

    We can help!

    Listing Contact
    Kelly Johnston
    Kelly Johnston

    Keller Williams Realty Chesterfield (636) 578-4577

    Listing agent Kelly Johnston (636) 534-8100 License #2013027356

    Listing date Jan 3, 2026

    MLS# 25070921 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

    Unique Rural Property with Income Potential

    This unique rural property offers 40 acres of privacy, natural beauty, and income potential. The 3,658 sq. ft. main home features 2 bedrooms and a bonus room. An attached private suite with 2 bedrooms and 1 bathroom is ideal for multigenerational living or rental income. Both suites have private sunrooms. A 1,200 sq. ft. cob cabin with a dome roof provides an opportunity for guest quarters, a studio, or a short-term rental. The property includes a detached eco-friendly workshop with a 2-car garage. The land features a mix of timber and open fields, offering seclusion while being located minutes from Meramec Springs Park, Woodson K. Woods Conservation Area, and the Meramec River. Other features include a private lake, hand-stacked garden beds, and a wood-fired pizza oven. This property blends rustic elegance with modern flexibility and is suited for a private homestead, a creative retreat, or a property with passive income possibilities. The layout is functional, artistic, and well-designed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Steelville
    County
    Iron
    State
    Missouri
    Longitude
    -91.44257473
    Latitude
    37.93446002

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    FAQs

    What type of property is this?
    Farm - Versatile 40-acre property with main home, cabin, and workshop.
    Where is this farm located?
    The property is located at 98 Turkey Ridge Ln Steelville, MO.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: - 40 acres of private, secluded land with timber and open fields; - Main home with attached 2/1 private suite for multigenerational living or rental income; - Unique 1,200 sq. ft. cob cabin with dome roof, suitable for guest quarters or short-term rental
    (314) 412-2288
    Request Owner's contact information
    98 Turkey Ridge Ln Steelville, MO 65565
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    Steelville, MO 65565
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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
    98 Turkey Ridge Ln Steelville, MO 65565
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    We can help!
    Listing Contact
    Kelly Johnston
    Kelly Johnston
    Real Estate License ID: 2013027356
    (314) 412-2288
    Learn more
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