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    109 N Myrtle Street Pierce City, MO 65723

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    For Sale
    $195,000

    SINGLE_FAMILY - Pierce City, MO

    Type:Office
    Property size:
    2,400 SF
    Lot size:
    0.01 Acres
    Price / SF:
    $81/SF
    Added:
    Nov 27, 2025
    Days on Market:
    160
    Last Refresh:
    May 6 at 10:06 pm

    Property Features for 109 N Myrtle Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Bathrooms
    2
    Rooms
    Bathroom 2, Bathroom 1
    Standard status
    Active
    APN
    175021003033001000
    Size
    2,400 SF
    Lot size
    0.01 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Washington St,212;N100' Of Lt 1 Blk 18 O S - Pierce City
    Tax Annual Amount
    1955

    Utilities

    Utilities
    Water Available
    Heating system
    Natural Gas, Forced Air, Coal
    Cooling system
    Electric, Central Air, Zoned

    Building Details

    Year built
    2004
    Roof type
    Metal

    We can help!

    Listing Contact
    Elaine Montgomery
    Elaine Montgomery

    Listing agent Elaine Montgomery License #1999056619

    Listing office Murney Associates - Primrose 1625 E. Primrose, Springfield, MO

    Listing date Nov 27, 2025

    MLS# 60310754

    Copyright © 2026 Southern Missouri Regional MLS, LLC (SOMO). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2400 sq ft commercial/residential building for $195,000.
    • Low maintenance exterior with steel siding, aluminum soffits/facia, and metal roof.
    • Zoned HVAC system offers independent climate control.
    • Versatile layout suitable for office, retail, or residential use.
    • Features a 3‑bedroom (1 non‑conforming) 1‑bath residential space with kitchen appliances.
    • Conveniently located near Highway 37, restaurants, shopping, and a park.

    Overview

    Versatile Commercial Building in Pierce City

    This 2,400 sq ft commercial building in Pierce City, Missouri, offers a versatile space suitable for various business ventures. The property features steel siding, aluminum soffits/facia, and a metal roof, ensuring minimal maintenance. The building is equipped with separate HVAC systems for each area. Currently configured for a work and residential combination, the property presents multiple options. The Myrtle Street side includes a large open office or retail space, a half bath, and two storage areas, along with a private file storage room and an additional utility storage area. The Washington Street side features a three-bedroom (one non-conforming without a closet), one-bath residential home with a large full bath and walk-in shower. The kitchen is equipped with a stove, refrigerator, and microwave. A large living room and dining area complete the residential side, which could also be used as additional office space or individual studios for businesses like a beauty salon. The property is located just two blocks from Highway 37, near restaurants, shopping, and a park.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Auto Parts Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pierce City
    County
    Lawrence
    State
    Missouri
    Longitude
    -94.000017
    Latitude
    36.945938

    FAQs

    What type of property is this?
    Live-work space - Work and residential combination with retail potential near Highway 37.
    Where is this live-work space located?
    The property is located at 109 N Myrtle Street Pierce City, MO.
    What is the asking price?
    The asking price for this property is $195,000.
    What are key features of this property?
    This property features: 2400 sq ft commercial/residential building for $195,000.; Low maintenance exterior with steel siding, aluminum soffits/facia, and metal roof.; Zoned HVAC system offers independent climate control.
    (417) 840-7627
    We can help!
    Listing Contact
    Elaine Montgomery
    Elaine Montgomery
    Real Estate License ID: 1999056619
    Learn More
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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
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