Listing Agency: Pace Properties k***@paceproperties.com Show Phone

Listed By: Patrick Willett · License #2016041183 Show Phone

Source: Moodyscre

Added: Sep 22, 2017 Changed: Aug 13 Last Checked: Aug 13 at 10:58AM

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 Pace Properties

Investment Insights

Based on property information with market context.

This for-sale drive-through restaurant site at 515 N Cleveland St offers prominent visibility from North Cleveland Street. The property is designed for convenient customer access, and it includes ample parking to support drive-through and on-site use.

The site’s location provides easy access for patrons, with visibility directly from North Cleveland Street. Parking availability further supports day-to-day operations.

With its drive-through orientation and straightforward site setup, the property is well suited for restaurant concepts that need both curbside flow and accessible parking.

Key Highlights

• Prominent visibility from North Cleveland Street
• Easy access
• Ample parking

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

$8,146

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

3.62%

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%

$162,920 $162.9K

Cap Rate 7%

$116,371 $116.4K

Cap Rate 9%

$90,511 $90.5K

Market Conditions

NOI Build-Up for 2,000 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

$11.0K $5.52/SF

− Vacancy

−$179 −$0.09/SF

EGI

$10.9K $5.43/SF

− OpEx

−$2.7K −$1.36/SF

NOI

$8.1K $4.07/SF

Area

Howard County, MO

Vacancy

1.62%

Lease Rate

$5.52 /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%

$162,920

Cap Rate 7%

$116,371

Cap Rate 9%

$90,511

Alternative Uses

Best Use

Specialty Retail

$116.4K

$101.8K – $135.8K (±1% cap)

NOI $8,146 @ 7.0% cap · market cap 3.62%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$310.1K

$271.3K – $361.8K (±1% cap)

NOI $21,706 @ 7.0% cap · market cap 9.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Drive through restaurants

Suggested Use

Top Pick Real Estate Agency Dental Office Building Supply Big Box & Wholesale Store Electrical Service Storage Facility

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

275

Businesses Nearby

3k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 72% Dining 28%

Sinclair Shops & Services

2,268 visits/mo 0.4 miles

SUBWAY Dining

876 visits/mo 0.5 miles

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 Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 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 drive through restaurants located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar For Sale Nearby

Brick Coffee Shop and Bakery

203 N Church St, Fayette, MO 65248

$275,000

1,200 SF

View details

Historic Fayette Building Retail Space

122 E Morrison St, Unit fayette, Fayette, MO 65248

$79,900

1,900 SF

View details

Restaurant Opportunity in Fayette, MO

515 North Cleveland Street, Fayette, MO 65248

$225,000

View details

Frequently Asked Questions

What type of property is this?

Drive through restaurant - Restaurant property with prominent visibility from North Cleveland Street and ample parking with easy access.

Where is this drive through restaurant located?

The property is located at 515 N Cleveland St Fayette, MO.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: Prominent visibility from North Cleveland Street; Easy access; Ample parking