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    Turnkey Restaurant and Redevelopment Opportunity Title is generated by Realmo AI

    111-115 W Main Street, Ash Grove, MO 65604

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    Claim this Listing
    For Sale
    $495,000

    SINGLE_FAMILY - Ash Grove, MO

    Type:Retail
    Lot size:
    0.10 Acres
    Added:
    Feb 13, 2026
    Days on Market:
    91
    Last Refresh:
    May 15 at 7:06 pm

    Property Features for 111-115 W Main Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    INC
    Bathrooms
    3
    Rooms
    Bathroom 2, Bathroom 3, Bathroom 1
    Parking features
    On Street
    Standard status
    Active
    APN
    0621308007
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Walkers Railroad Add Ralph Lot 4 Blk J and Walkers Railroad Add Ralph Lot 5 Blk J
    Tax Annual Amount
    1764

    Utilities

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

    Building Details

    Year built
    1898
    Number of units
    1
    Roof type
    Flat

    We can help!

    Listing Contact
    Adam Graddy
    Adam Graddy

    Listing agent Adam Graddy License #2004014961

    Listing office Keller Williams 1619 E. Independence St., Springfield, MO

    Listing date Feb 13, 2026

    MLS# 60315307

    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

    • Two Main Street buildings in a prime downtown location with high visibility and long‑term growth opportunity.
    • 111 W Main St: Turnkey restaurant (Mama Loca's Cafe) with open dining area, bar, functional kitchen, and outdoor patio seating.
    • 115 W Main St: Significant redevelopment potential for retail, restaurant, or mixed‑use conversion.
    • 111 W Main St: Versatile upper‑level loft area suitable for events, office space, storage, or future expansion.
    • 115 W Main St: Upper‑level space presents opportunity for loft development, creating additional income or live/work potential.
    • Historic 1890 building (111 W Main St) with large display windows providing strong visibility and natural light.

    Overview

    Located in the heart of Ash Grove, the property includes two buildings at 111 W Main St and 115 W Main St. The building at 111 W Main St, constructed in 1890, currently houses Mama Loca's Cafe and is offered as a turnkey restaurant. The main level features an open dining area with seating, a bar, and a functional kitchen. Large display windows provide visibility and natural light, while an outdoor patio offers additional dining space. The upper level includes a versatile loft area suitable for events, office space, storage, or future expansion. The adjacent building at 115 W Main St offers redevelopment potential with Main Street frontage and visibility, suitable for retail, restaurant, or mixed-use conversion. The upper-level space presents the opportunity for loft development, creating additional income or live/work potential. The location offers high visibility and long-term growth opportunity, ideal for owner-users, investors, or entrepreneurs. The lot size is 0.1 acres. The zoning is INC. The seller will provide an included equipment list and reserved items. The seller reserves the right to the Mama Loca's name, which will not convey with the sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ash Grove
    County
    Greene
    State
    Missouri
    Longitude
    -93.585415
    Latitude
    37.315256

    Nearby Similar for Sale

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    • $215,000

      Remodeled Commercial Building on Main

      Charming, remodeled commercial building in the heart of Ash Grove.
      104 W Main Street, Ash Grove, MO 65604
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    • $106,500

      Scenic Acreage in Ash Grove

      10+/- acre property with pasture, views, and utilities.
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    • $495,000
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      Two Main Street Buildings

      Two buildings in Ash Grove with redevelopment potential.
      111-115 W Main St, Ash Gro, Ash Grove, MO 65604
      View Details

    FAQs

    What type of property is this?
    Turn key restaurant - Two Main Street buildings with restaurant and redevelopment potential.
    Where is this turn key restaurant located?
    The property is located at 111-115 W Main Street Ash Grove, MO.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Two Main Street buildings in a prime downtown location with high visibility and long‑term growth opportunity.; 111 W Main St: Turnkey restaurant (Mama Loca's Cafe) with open dining area, bar, functional kitchen, and outdoor patio seating.; 115 W Main St: Significant redevelopment potential for retail, restaurant, or mixed‑use conversion.
    (417) 501-5091
    We can help!
    Listing Contact
    Adam Graddy
    Adam Graddy
    Real Estate License ID: 2004014961
    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.

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