Versatile Commercial Space in
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20 N Spanish Street, Cape Girardeau, MO 63701
7,396 SF commercial building with multiple dining areas.
Property Size7,396 SF
Price / SF$111.55
Days on Market113
Property Features for 20 N Spanish Street
General Information
Standard status
Active
Size
7,396 SF
Property subtype
Retail
Occupancy
100%
Building Details
Year Built
1966
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Edge Realty
Listed By:
Jacob Fish · License #2010013545
(573) 450-3791
Source:
Crexi
Added: May 13
Changed: Aug 21
Last Checked: Sep 1 at 2:34AM
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 Edge Realty
Investment Insights
Based on property information with market context.
Located in historic downtown Cape Girardeau, the property at 20 North Spanish Street features a 7,396 square foot commercial building. The building is configured into three distinct areas: a banquet space with 60 seats, a main dining area with 135 seats, and a dedicated bar section. A covered outdoor patio provides additional seating for 25 guests. The property can be divided into two separate units. The kitchen is centrally located with direct access to both the main dining room and banquet area. Constructed with I-beam support, the building allows for flexibility in opening the floor plan to suit a variety of concepts.
Key Highlights
- Prime location in the heart of historic downtown Cape Girardeau.
- Versatile 7,396 sq ft commercial space configured for banquet (60 seats), dining (135 seats), and bar areas.
- Potential for division into two separate units.
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
$74,765
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
9.06%
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%
$1,495,300
$1.5M
Cap Rate 7%
$1,068,071
$1.1M
Cap Rate 9%
$830,722
$830.7K
Market Conditions
NOI Build-Up for 7,396 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
$103.8K $14.04/SF
− Vacancy
−$4.2K −$0.56/SF
EGI
$99.7K $13.48/SF
− OpEx
−$24.9K −$3.37/SF
NOI
$74.8K $10.11/SF
Area
Cape Girardeau County, MO
Vacancy
4.00%
Lease Rate
$14.04 /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%
$1,495,300
Cap Rate 7%
$1,068,071
Cap Rate 9%
$830,722
Alternative Uses
Best Use
Specialty Retail
$1.07M
$934.6K – $1.25M
NOI $74,765 @ 7.0% cap · market cap 9.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,330 @ 7.0% cap · market cap 19.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 62%
Dining 20%
Home Improvements & Furnishings 18%
Courtyard Cape Girardeau Downtown
Hotels & Casinos
10,045 visits/mo
0.3 miles
SUBWAY
Dining
3,185 visits/mo
0.5 miles
Big Sandy Superstore
Home Improvements & Furnishings
2,915 visits/mo
0.1 miles
Demographics for 63701, MO
39,246
Population
17,834
Households
2.2
Avg Household Size
35
Median Age
39%
College-Educated
94%
High-School Grad
132.7 sq mi
ZIP Area
296
Density / Sq Mi
$67,904
Median Household Income
$32,655
Median Earnings
$863
Median Rent
$209,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - 7,396 SF commercial building with multiple dining areas.
Where is this conventional restaurant located?
The property is located at 20 N Spanish Street Cape Girardeau, MO.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Prime location in the heart of historic downtown Cape Girardeau.; Versatile 7,396 sq ft commercial space configured for banquet (60 seats), dining (135 seats), and bar areas.; Potential for division into two separate units.
