Flex Building With Second
For Sale
$295,000
104 W Berry, Hamilton, MO 64644
COMMERCIAL - Hamilton, MO
Property Size1,000 SF
Price / SF$295
Days on Market166
Property Features for 104 W Berry
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Amenities
office
full bath
kitchen
shop
rollup garage door
storage shed
Listing Agency:
The OConnor Agency - United Country Real Estate
(816) 632-3721
Listed By:
Bruce Witt
(816) 632-3721
Added: Mar 13
Changed: Aug 4
Last Checked: Aug 25 at 9:06AM
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 two commercial lots and a 50 x 20-foot block building. The building contains a finished office, full bathroom, kitchen, and rear shop area, with central air and heat serving the interior. A roll-up garage door provides access at the back of the structure. The property also includes a 12 x 20-foot storage shed positioned behind the building.
The additional lot is located west of the improved parcel. The property is at 104 W Berry in Hamilton, Missouri, within Caldwell County and postal code 64644.
The additional lot is located west of the improved parcel. The property is at 104 W Berry in Hamilton, Missouri, within Caldwell County and postal code 64644.
Key Highlights
- Two commercial lots, including a vacant lot west of the improved parcel
- 50 x 20‑foot block building with finished office, full bath, kitchen, and rear shop
- Rear roll‑up garage door
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
Property Profile
Current Use
Lease Details
1
Drive-in doors
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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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 with office, kitchen, shop space, and an additional vacant lot.
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, including a vacant lot west of the improved parcel; 50 x 20‑foot block building with finished office, full bath, kitchen, and rear shop; Rear roll‑up garage door
