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Property profile & analytics
OFF-MARKET Estimated value $825,000
Retail space

311 Main St Carthage, MO 64836-1614

25,542 SF 0.24 ac lot Built 1880
Individually Owned 13-yr Hold Free & Clear
Property ID
US48-1118416
Property summary
AI-generated overview

This exceptional 25,542 square foot, tri-level commercial building is situated on a 0.24-acre lot in the heart of historic downtown Carthage, Missouri, at 311 S Main Street. Occupying an entire city block, this 1880s building offers a unique blend of established businesses and significant redevelopment potential. The main floor currently houses a thriving art gallery and a well-regarded restaurant, complete with a full commercial kitchen, two public restrooms, a stage, and attractive display windows. All existing kitchen equipment, tables, and chairs are included in the sale price of $750,000. The upper level, previously used as offices, presents a blank canvas for conversion into residential apartments or additional commercial suites, offering a lucrative income stream. A full basement provides ample storage space, along with a self-contained studio apartment featuring a full bathroom and laundry facilities. The building boasts beautiful hardwood floors, high ceilings, and convenient street-level entrances on both the front and back of the property. This is a rare opportunity to acquire a significant piece of Carthage's history and capitalize on its prime location and versatile layout. The property's size and features make it ideal for a variety of uses, from expanding existing businesses to creating a mixed-use development.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1880
Total area 25,542 SF
Lot 0.24 ac (10,542 SF)
APN 14-2.0-4-10-33-3.0
UPID US48-1118416
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$640k
CAP Approach CAP
by Request
Comparable Approach Comparable
$659k
Blend (final) Blend
$825k
Owner & transaction history
Cherrys Custom Framing · 13 yrs held
Cherrys Custom Framing
since 2013
2 recorded transactions
2013
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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