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    Versatile Commercial Shop on Route 66 Title is generated by Realmo AI

    1509 U.S Rte 66, Lebanon, MO 65536

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    1,800 SF commercial shop with high visibility and accessibility.

    Type:Retail
    Property size:
    1,800 SF
    Price / SF:
    $155/SF
    Added:
    Mar 21, 2026
    Days on Market:
    65
    Last Refresh:
    Mar 22 at 8:19 pm

    Property Features for 1509 U.S Rte 66

    General Information

    Standard status
    Active
    Size
    1,800 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1994

    We can help!

    Listing Contact
    Brett Burnell
    Brett Burnell

    Listing agent Brett Burnell License #MO 2019011648

    Listing office RE/MAX Next Generation

    Listing date Mar 21, 2026

    Source Crexi

    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 Next Generation

    HighLights

    • High‑visibility location on historic U.S. Route 66 with strong frontage.
    • Convenient access to Interstate 44.
    • Versatile 1,800 sq ft commercial shop building suitable for various businesses.
    • Four spacious garage bays for multiple workstations and projects.
    • Large asphalt parking area.
    • Built in 1994.

    Overview

    Located along the historic U.S. Route 66, with exposure near Interstate 44, this 1,800 square foot commercial shop building offers a location for business owners, investors, or entrepreneurs. Its placement along a well-known highway ensures traffic flow and visibility, suitable for various commercial operations. Potential uses include an automotive service center, equipment repair shop, contractor headquarters, retail showroom, or service-based business. The shop is configured with four garage bays that allow for multiple workstations, maximizing productivity and workflow. Each bay provides space for vehicles, equipment, or storage, giving business owners the flexibility to operate several projects simultaneously. The property features a large asphalt parking area and frontage on Route 66, with interstate accessibility. It provides the foundation for a business operation, suitable for launching a new venture, relocating an existing company, or investing in a property with commercial potential.
    Location Intelligence

    Current Use by Public Records

    Auto shops

    Similar Places Nearby

    • Fastlane Roadside Services Mobile Truck,Trailer, and Tire Repair — 23153 Green Hills Rd, Lebanon, MO 65536
    • Greg's Auto Repair LLC — 22760 Prospect Dr, Lebanon, MO 65536

    Map

    City
    Lebanon
    County
    Laclede
    State
    Missouri
    Longitude
    -92.6098
    Latitude
    37.6765

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    FAQs

    What type of property is this?
    Auto shop - 1,800 SF commercial shop with high visibility and accessibility.
    Where is this auto shop located?
    The property is located at 1509 U.S Rte 66 Lebanon, MO.
    What is the asking price?
    The asking price for this property is $279,900.
    What are key features of this property?
    This property features: High‑visibility location on historic U.S. Route 66 with strong frontage.; Convenient access to Interstate 44.; Versatile 1,800 sq ft commercial shop building suitable for various businesses.
    (417) 594-0548 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brett Burnell
    Brett Burnell
    Real Estate License ID: MO 2019011648
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    1509 U.S. Rte 66, Lebanon, MO 65536
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