Building Details

Year built 2026

Floors in Building 1

Building materials Steel Siding

Listing Agency: Black & Associates, LLC Show Phone

Listed By: Mary Harke · License #2016022386 Show Phone

Added: Sep 10 Last Checked: Sep 13 at 4:06PM

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MLS# 26056655

Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 1,680-square-foot flex building is under construction with a projected 2026 completion year. The steel-sided structure provides an open interior for custom build-out, along with a rough-in bath, two oversized double-door entrances, and a 10-foot garage door. The exterior is designed for low maintenance.

The property fronts Highway 47 in Winfield, Missouri, and is offered with no restrictions noted. Electric service is available at the site, septic has been approved and prepared, and county water is available. A billboard opportunity is also identified, providing an additional potential use for the property.

Key Highlights

• 1,680‑square‑foot flex building under construction
• Projected 2026 completion with steel siding
• Two oversized double‑door entrances and a 10‑foot garage door

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

$15,561

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

5.87%

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%

$311,220 $311.2K

Cap Rate 7%

$222,300 $222.3K

Cap Rate 9%

$172,900 $172.9K

Market Conditions

NOI Build-Up for 1,680 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

$25.2K $15.00/SF

− Vacancy

−$1.3K −$0.75/SF

EGI

$23.9K $14.25/SF

− OpEx

−$8.4K −$4.99/SF

NOI

$15.6K $9.26/SF

Area

Lincoln County, MO

Vacancy

5.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

35.00%

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%

$311,220

Cap Rate 7%

$222,300

Cap Rate 9%

$172,900

Alternative Uses

Best Use

Flex RnD

$222.3K

$194.5K – $259.4K (±1% cap)

NOI $15,561 @ 7.0% cap · market cap 5.87%

Second Best

Industrial

$97.3K

$85.1K – $113.5K (±1% cap)

NOI $6,809 @ 7.0% cap · market cap 2.57%

Theoretical Best

Office A

$415.5K

$363.5K – $484.7K (±1% cap)

NOI $29,083 @ 7.0% cap · market cap 10.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Lease Details

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

15

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 63389, MO

7,224

Population

2,525

Households

2.9

Avg Household Size

35

Median Age

14%

College-Educated

87%

High-School Grad

44.2 sq mi

ZIP Area

163

Density / Sq Mi

$92,646

Median Household Income

$45,315

Median Earnings

$941

Median Rent

$218,500

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 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 flex space 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?

Flex space - Steel-sided flex space includes a rough-in bath and oversized access doors for adaptable commercial use.

Where is this flex space located?

The property is located at 2 Hardwood Dr Winfield, MO.

What is the asking price?

The asking price for this property is $265,000.

What are key features of this property?

This property features: 1,680‑square‑foot flex building under construction; Projected 2026 completion with steel siding; Two oversized double‑door entrances and a 10‑foot garage door