Building Details

Tenancy Multi

Listing Agency: Intelica CRE Show Phone

Listed By: Tyler Hyde Show Phone

Source: Moodyscre

Added: Aug 22, 2025 Changed: Aug 16 Last Checked: Sep 15 at 10:34AM

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Investment Insights

Based on property information with market context.

Class A mixed-use office building with a stabilized rent roll in Grover, MO at 16721–16765 Main St. The property is described as well maintained and offers a diverse tenant mix that includes restaurants, retail, medical, and professional office.

A key feature is the stability of the anchor tenancy, with leases in place beyond 2030 and a reported 4.01 WALT. The building is also noted as being directly across the street from a proposed 189-unit multi-family development, which may be relevant to future leasing and tenant demand.

With 36,126 SF of space, the property is positioned as a long-term income option while current ownership has completed over $500,000 in tenant improvements. The combination of an established tenant base, extended anchor leases, and active nearby development supports consideration for buyers seeking an office-focused investment with mixed-use tenant characteristics.

Key Highlights

• 36,126 SF Class A mixed‑use office building at 16721–16765 Main St
• Anchor tenants leased beyond 2030 with a reported 4.01 WALT
• Stabilized rent roll with tenant diversity spanning restaurants, retail, medical, and professional office

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

$486,921

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

8.12%

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%

$9,738,420 $9.7M

Cap Rate 7%

$6,956,014 $7.0M

Cap Rate 9%

$5,410,233 $5.4M

Market Conditions

NOI Build-Up for 36,126 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

$832.3K $23.04/SF

− Vacancy

−$183.1K −$5.07/SF

EGI

$649.2K $17.97/SF

− OpEx

−$162.3K −$4.49/SF

NOI

$486.9K $13.48/SF

Area

Franklin County, MO

Vacancy

22.00%

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%

$9,738,420

Cap Rate 7%

$6,956,014

Cap Rate 9%

$5,410,233

Alternative Uses

Best Use

Office B

$6.96M

$6.09M – $8.12M (±1% cap)

NOI $486,921 @ 7.0% cap · market cap 8.12%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$10.64M

$9.31M – $12.41M (±1% cap)

NOI $744,489 @ 7.0% cap · market cap 12.41%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Law Firm Auto Repair Shop Hair Salon

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

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

386

Businesses Nearby

Explore this area Business Placement

Demographics for 63040, MO

8,857

Population

3,324

Households

2.7

Avg Household Size

42

Median Age

64%

College-Educated

100%

High-School Grad

4.4 sq mi

ZIP Area

2,013

Density / Sq Mi

$130,139

Median Household Income

$64,314

Median Earnings

$1,504

Median Rent

$408,800

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 buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Office building - Stabilized office building with anchor tenants leased beyond 2030 and a 4.01 WALT

Where is this office building located?

The property is located at 16721-16765 Main St Grover, MO.

What is the asking price?

The asking price for this property is $6,000,000.

What are key features of this property?

This property features: 36,126 SF Class A mixed‑use office building at 16721–16765 Main St; Anchor tenants leased beyond 2030 with a reported 4.01 WALT; Stabilized rent roll with tenant diversity spanning restaurants, retail, medical, and professional office