Building Details

Building Size 1,750 SF

Year Built 2025

Buildings 1

Stories 1

Units 3

Listing Agency: EXP Realty, LLC w***@exprealty.com Show Phone

Listed By: Sarah McKinney · License #2021020164 Show Phone

Source: Century21laclede

Added: Aug 3 Changed: Aug 11 Last Checked: Aug 11 at 4:11AM

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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 EXP Realty, LLC

Investment Insights

Based on property information with market context.

Completed in 2025, this triplex contains three one-bedroom, one-bathroom units, each equipped with appliances. The property also includes a two-car garage, whole-home generator, private well, septic system, and above-ground pool.

The buildings sit on nearly 2.5 acres at 16935 State Highway UU in Millersville, Missouri. The combination of multiple residential units and substantial site area provides a defined multifamily configuration with room for the property’s existing outdoor features.

Key Highlights

• Triplex completed in 2025 with 3 one‑bedroom, one‑bathroom units
• Nearly 2.5 acres at 16935 State Highway UU, Millersville, MO 63766
• Appliances included in each unit

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

$13,997

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

3.90%

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%

$279,940 $279.9K

Cap Rate 7%

$199,957 $200.0K

Cap Rate 9%

$155,522 $155.5K

Market Conditions

NOI Build-Up for 1,750 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

$21.4K $12.24/SF

− Vacancy

−$1.4K −$0.81/SF

EGI

$20.0K $11.43/SF

− OpEx

−$6.0K −$3.43/SF

NOI

$14.0K $8.00/SF

Area

Cape Girardeau County, MO

Vacancy

6.65%

Lease Rate

$12.24 /SF/Yr

Expense Ratio

30.00%

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%

$279,940

Cap Rate 7%

$199,957

Cap Rate 9%

$155,522

Alternative Uses

Best Use

Multifamily LT 5

$200.0K

$175.0K – $233.3K (±1% cap)

NOI $13,997 @ 7.0% cap · market cap 3.90%

Second Best

Apartment 5plus

$184.1K

$161.1K – $214.8K (±1% cap)

NOI $12,890 @ 7.0% cap · market cap 3.59%

Theoretical Best

Office A

$552.1K

$483.1K – $644.1K (±1% cap)

NOI $38,646 @ 7.0% cap · market cap 10.76%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Triplexes

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Explore this area Business Placement

Demographics for 63766, MO

1,193

Population

705

Households

1.7

Avg Household Size

46

Median Age

18%

College-Educated

98%

High-School Grad

48.3 sq mi

ZIP Area

25

Density / Sq Mi

$59,049

Median Household Income

$35,714

Median Earnings

$1,099

Median Rent

$174,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - New construction with appliances, private well and septic, a generator, pool, and garage.

Where is this triplex located?

The property is located at 16935 State Highway UU Millersville, MO.

What is the asking price?

The asking price for this property is $359,000.

What are key features of this property?

This property features: Triplex completed in 2025 with 3 one‑bedroom, one‑bathroom units; Nearly 2.5 acres at 16935 State Highway UU, Millersville, MO 63766; Appliances included in each unit