Flex Building with
For Sale
$295,000
104 W Berry, Hamilton, MO 64644
Commercial Sale, Hamilton, MO
Property Size1,000 SF
Price / SF$295
Days on Market199
Property Features for 104 W Berry
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Amenities
finished office
full bath
kitchen
shop
rollup garage door
central air & heat
12x20 storage shed
Listing Agency:
The OConnor Agency - United Country Real Estate
Listed By:
Bruce Witt
(816) 632-3721
Added: Mar 13
Changed: Sep 4
Last Checked: Sep 27 at 12:06PM
MLS# 11687115
Copyright © 2026 My State MLS. 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.
This flex property includes a 50 x 20 block building arranged with a finished office, full bath, kitchen, and shop area. A rear rollup garage door supports access to the shop, while central air and heat serve the building. A 12 x 20 storage shed provides additional enclosed storage.
The offering includes two commercial lots at 104 W Berry in Hamilton, Missouri. The second parcel is the vacant lot positioned west of the building, providing additional land with the existing improvements.
The offering includes two commercial lots at 104 W Berry in Hamilton, Missouri. The second parcel is the vacant lot positioned west of the building, providing additional land with the existing improvements.
Key Highlights
- Two commercial lots included in the offering
- 50 x 20 block building with finished office, full bath, kitchen, and shop
- Rear rollup garage door provides shop access
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
$13,795
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
4.68%
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%
$275,900
$275.9K
Cap Rate 7%
$197,071
$197.1K
Cap Rate 9%
$153,278
$153.3K
Market Conditions
NOI Build-Up for 1,000 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
$22.7K $22.68/SF
− Vacancy
−$4.3K −$4.29/SF
EGI
$18.4K $18.39/SF
− OpEx
−$4.6K −$4.60/SF
NOI
$13.8K $13.80/SF
Area
Caldwell County, MO
Vacancy
18.90%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
25.00%
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%
$275,900
Cap Rate 7%
$197,071
Cap Rate 9%
$153,278
Alternative Uses
Best Use
Office B
$197.1K
$172.4K – $229.9K
NOI $13,795 @ 7.0% cap · market cap 4.68%
Second Best
Flex RnD
$82.9K
$72.5K – $96.7K
NOI $5,803 @ 7.0% cap · market cap 1.97%
Theoretical Best
Retail
$221.0K
$193.3K – $257.8K
NOI $15,467 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 64644, MO
2,977
Population
1,394
Households
2.1
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
107.5 sq mi
ZIP Area
28
Density / Sq Mi
$72,628
Median Household Income
$40,912
Median Earnings
$650
Median Rent
$171,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Other Peoples BBQ — 515 E 7th St, Hamilton, MO 64644
Frequently Asked Questions
What type of property is this?
Flex space - Commercial property combines finished office space, a kitchen, full bath, shop area, and rear storage.
Where is this flex space located?
The property is located at 104 W Berry Hamilton, MO.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two commercial lots included in the offering; 50 x 20 block building with finished office, full bath, kitchen, and shop; Rear rollup garage door provides shop access
