Building Details

Year Built 1874

Year Renovated 2024

Buildings 1

Stories 1

Units 1

Listing Agency: t***@gmail.com Show Phone

Listed By: Chris Show Phone

Added: Mar 1 Changed: Apr 8

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Investment Insights

Based on property information with market context.

This property features 1920 square feet of storefront retail space situated on the square in historic downtown Fayette. The property includes the main level retail space and the entire basement. Front and rear entrances provide the option to divide the building into separate spaces with common facilities. The building is a recently renovated historic bank building. The second and third floors are separately owned. An easement agreement is in place, and building insurance is prorated between owners. The property is available for immediate possession.

Key Highlights

• Turnkey
• Redcently renovated
• historic bank building

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

$7,223

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

9.04%

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%

$144,460 $144.5K

Cap Rate 7%

$103,186 $103.2K

Cap Rate 9%

$80,256 $80.3K

Market Conditions

NOI Build-Up for 1,900 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

$10.5K $5.52/SF

− Vacancy

−$170 −$0.09/SF

EGI

$10.3K $5.43/SF

− OpEx

−$3.1K −$1.63/SF

NOI

$7.2K $3.80/SF

Area

Howard County, MO

Vacancy

1.62%

Lease Rate

$5.52 /SF/Yr

Expense Ratio

30.00%

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%

$144,460

Cap Rate 7%

$103,186

Cap Rate 9%

$80,256

Alternative Uses

Best Use

Retail

$103.2K

$90.3K – $120.4K (±1% cap)

NOI $7,223 @ 7.0% cap · market cap 9.04%

Second Best

Office B

$52.6K

$46.0K – $61.3K (±1% cap)

NOI $3,680 @ 7.0% cap · market cap 4.61%

Theoretical Best

Warehouse

$294.6K

$257.8K – $343.7K (±1% cap)

NOI $20,620 @ 7.0% cap · market cap 25.81%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Sheep Dog Creations ... (Bike/Boat/Book/etc) Store Red Dirt Rag ... (Bike/Boat/Book/etc) Store

Location Intelligence

Trade Area within ½ mile

303

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 65248, MO

4,781

Population

1,815

Households

2.6

Avg Household Size

33

Median Age

31%

College-Educated

90%

High-School Grad

172.6 sq mi

ZIP Area

28

Density / Sq Mi

$53,797

Median Household Income

$30,000

Median Earnings

$838

Median Rent

$141,600

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Charming Historic Building on the Square in Fayette

Where is this storefront property located?

The property is located at 122 E Morrison St Unit fayette Fayette, MO.

What is the asking price?

The asking price for this property is $79,900.

What are key features of this property?

This property features: Turnkey; Redcently renovated; historic bank building