Historic Brick Restaurant
For Sale
$425,000
103 E Broadway, Ashland, MO 65010
Downtown commercial property with two kitchens, event-oriented layout, and a partially covered rear deck.
Property Size4,100 SF
Days on Market14
Property Features for 103 E Broadway
General Information
Standard status
Active
Size
4,100 SF
Property subtype
Commercial
Zoning
Commercial, Commercial, C-G General Comm
Building Details
Building Size
4,100 SF
Stories
1
Construction
brick
Listing Agency:
REMAX Boone Realty
(573) 424-4554
Listed By:
Christina Wyatt
(573) 424-4554
Source:
Rgmongler
Added: Aug 7
Changed: Aug 16
Last Checked: Aug 19 at 2:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REMAX Boone Realty
Investment Insights
Based on property information with market context.
This more-than-100-year-old brick commercial building is configured for restaurant and bar operations, with exposed brickwork that preserves its historic character. The floor plan includes a front kitchen for food preparation and service, a separate rear prep kitchen, an oversized walk-in cooler, two public restrooms, and one employee restroom. A stage at the back supports entertainment and special-event programming, while the partially covered rear deck adds usable outdoor area.
Located at 103 E. Broadway in downtown Ashland, the property carries C-G General Comm zoning. Its existing restaurant configuration can also support consideration of retail, entertainment, or other commercial uses. A newer metal roof is among the building improvements.
Located at 103 E. Broadway in downtown Ashland, the property carries C-G General Comm zoning. Its existing restaurant configuration can also support consideration of retail, entertainment, or other commercial uses. A newer metal roof is among the building improvements.
Key Highlights
- Restaurant and bar building more than 100 years old
- C‑G General Comm zoning
- Front kitchen plus separate rear prep 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
$18,226
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
4.29%
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%
$364,520
$364.5K
Cap Rate 7%
$260,371
$260.4K
Cap Rate 9%
$202,511
$202.5K
Market Conditions
NOI Build-Up for 4,100 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
$27.1K $6.60/SF
− Vacancy
−$1.0K −$0.25/SF
EGI
$26.0K $6.35/SF
− OpEx
−$7.8K −$1.91/SF
NOI
$18.2K $4.45/SF
Area
Boone County, MO
Vacancy
3.78%
Lease Rate
$6.60 /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%
$364,520
Cap Rate 7%
$260,371
Cap Rate 9%
$202,511
Alternative Uses
Best Use
Specialty Retail
$581.7K
$509.0K – $678.7K
NOI $40,721 @ 7.0% cap · market cap 9.58%
Second Best
Industrial
$260.4K
$227.8K – $303.8K
NOI $18,226 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,092 @ 7.0% cap · market cap 24.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 65010, MO
7,128
Population
3,092
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
93%
High-School Grad
60.7 sq mi
ZIP Area
117
Density / Sq Mi
$93,025
Median Household Income
$53,900
Median Earnings
$1,180
Median Rent
$274,100
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Downtown commercial property with two kitchens, event-oriented layout, and a partially covered rear deck.
Where is this conventional restaurant located?
The property is located at 103 E Broadway Ashland, MO.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Restaurant and bar building more than 100 years old; C‑G General Comm zoning; Front kitchen plus separate rear prep kitchen
