Listing Agency: RE/MAX Best Choice r***@remax.net Show Phone

Listed By: Dean Eshelman · License #MO1999138631 Show Phone

Source: Exprealty

Added: Jul 15, 2024 Changed: Oct 3 Last Checked: Oct 9 at 9:44PM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Best Choice

Investment Insights

Based on property information with market context.

This commercial property is situated in a favorable location across from City Hall and one block from the court house. The property includes updated kitchen facilities, making it suitable for a professional office. The lot size is approximately one-half acre, offering the possibility for new construction. The property size is 2772 square feet.

Key Highlights

• Prime location across from City Hall
• Large 1/2 +/- acre lot offers building potential
• Updated kitchen facilities

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,919

Cap Rate

8.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$698,380 $698.4K

Cap Rate 7%

$498,843 $498.8K

Cap Rate 9%

$387,989 $388.0K

Market Conditions

NOI Build-Up for 2,772 SF

Gross rent

$63.9K $23.04/SF

− Vacancy

−$17.3K −$6.24/SF

EGI

$46.6K $16.80/SF

− OpEx

−$11.6K −$4.20/SF

NOI

$34.9K $12.60/SF

Area

Jefferson County, MO

Vacancy

27.10%

Lease Rate

$23.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$698,380

Cap Rate 7%

$498,843

Cap Rate 9%

$387,989

Alternative Uses

Best Use

Office B

$498.8K

$436.5K – $582.0K (±1% cap)

NOI $34,919 @ 7.0% cap · market cap 8.18%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$8.23M

$7.20M – $9.60M (±1% cap)

NOI $576,280 @ 7.0% cap · market cap 134.99%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Office Units

Suggested Use

Top Pick Auto Parts Store Parking Lot & Garage Storage Facility Garden Center (Bike/Boat/Book/etc) Store Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

371

Businesses Nearby

Explore this area Business Placement

Demographics for 63050, MO

16,874

Population

7,089

Households

2.4

Avg Household Size

41

Median Age

20%

College-Educated

92%

High-School Grad

91.9 sq mi

ZIP Area

184

Density / Sq Mi

$79,462

Median Household Income

$44,805

Median Earnings

$1,000

Median Rent

$255,500

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Property with Four Buildings

9637 Old State Route 21, Hillsboro, MO 63050

$399,000

5.89 Acres

View details

Brick Office Building

405 Main Street, Hillsboro, MO 63050

$699,900

0.66 Acres

View details

Church Facility with Basement

4770 State Road B, Hillsboro, MO 63050

$1,650,000

5.00 Acres

View details

Frequently Asked Questions

What type of property is this?

Office units - Updated commercial property with large lot near government buildings.

Where is this office units located?

The property is located at 114 Main St Hillsboro, MO.

What is the asking price?

The asking price for this property is $426,900.

What are key features of this property?

This property features: Prime location across from City Hall; Large 1/2 +/- acre lot offers building potential; Updated kitchen facilities