Commercial Property Near City
For Sale
$426,900
Pending
114 Main St, Hillsboro, MO 63050
Updated commercial property with large lot near government buildings.
Property Size2,772 SF
Lot Size0.50 Acres
Days on Market771
Property Features for 114 Main St
General Information
Standard status
Pending
Size
2,772 SF
Lot size
0.50 Acres
Taxes and HOA fees
Annual Taxes
$3,143
Listing Agency:
RE/MAX Best Choice
(636) 448-3627
Listed By:
Dean Eshelman · License #MO1999138631
(636) 448-3627
Source:
Exprealty
Added: Jul 15, 2024
Changed: Aug 23
Last Checked: Aug 24 at 8:58AM
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 = 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
$34,919
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
8.18%
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%
$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
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
$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 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%
$698,380
Cap Rate 7%
$498,843
Cap Rate 9%
$387,989
Alternative Uses
Best Use
Office B
$498.8K
$436.5K – $582.0K
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
NOI $576,280 @ 7.0% cap · market cap 134.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
