Historic Fayette Building Retail
For Sale
$79,900
122 E Morrison St Unit fayette, Fayette, MO 65248
Charming Historic Building on the Square in Fayette
Property Size1,900 SF
Price / SF$42.05
Days on Market224
Property Features for 122 E Morrison St Unit fayette
General Information
Standard status
Active
Property type
Storefront properties, Office buildings, Creative space, Individual retail properties, Office Spaces
Size
1,900 SF
Total Parking Spaces
2
Elevators
No
Building Details
Year Built
1874
Year Renovated
2024
Buildings
1
Stories
1
Units
1
Listed By:
Chris Reinkemeyer
(573) 228-8408
Added: Mar 1
Changed: Apr 8
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 / Yr
$7,223
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
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
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 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
NOI $7,223 @ 7.0% cap · market cap 9.04%
Second Best
Office B
$52.6K
$46.0K – $61.3K
NOI $3,680 @ 7.0% cap · market cap 4.61%
Theoretical Best
Warehouse
$294.6K
$257.8K – $343.7K
NOI $20,620 @ 7.0% cap · market cap 25.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
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
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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
