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    Historic Joe Knight Building Title is generated by Realmo AI

    201 W Commercial Street, Lebanon, MO 65536

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    Claim this Listing
    For Sale
    $989,900

    SINGLE_FAMILY - Lebanon, MO

    Type:Retail
    Lot size:
    0.25 Acres
    Added:
    Nov 4, 2024
    Days on Market:
    559
    Last Refresh:
    May 17 at 7:06 pm

    Property Features for 201 W Commercial Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Bathrooms
    9
    Rooms
    Bathroom 5, Bathroom 7, Bathroom 9, Bathroom 2, Bathroom 8, Bathroom 1, Bathroom 6, Bathroom 3, Bathroom 4
    Standard status
    Active
    APN
    13-1.0-11-002-024-021.000
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    1ST R.R. BLOCK 17 LOT 1 (201 W COMMERCIAL ST)
    Tax Annual Amount
    4409

    Utilities

    Utilities
    Water Available
    Heating system
    Electric (Heating)
    Cooling system
    Electric

    Building Details

    Year built
    1948
    Roof type
    Flat

    We can help!

    Listing Contact
    417 Property Pros

    Listing agent 417 Property Pros License #2010038764

    Listing office Keller Williams 1619 E. Independence St., Springfield, MO

    Listing date Nov 4, 2024

    MLS# 60281427

    Copyright © 2026 Southern Missouri Regional MLS, LLC (SOMO). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Historic Landmark: The Joe Knight Building, a recognized landmark with historical significance.
    • Versatile Spaces: Expansive interiors with high ceilings suitable for retail, office, mixed‑use, or boutique hotel development.
    • Prime Downtown Location: Situated in the heart of Lebanon's bustling downtown.
    • Functional Restaurant: The main level features a fully functional restaurant space.
    • Complete Living Quarters: Floor 2 includes complete living quarters ideal for nightly rental income.
    • Architectural Features: Streamline Moderne style with original glass blocks and well‑preserved details.

    Overview

    The Joe Knight Building, a historic landmark in Lebanon, Missouri, offers a blend of architectural character and modern functionality. Located in the heart of downtown, this building features expansive interiors with natural light and high ceilings, suitable for retail, office, or mixed-use ventures. The building showcases the Streamline Moderne style, including original glass blocks from the art deco era, and is on the historical register. The main level includes a fully functional restaurant. The basement level once housed county offices and a barber shop. The second and third floors have served as professional offices for physicians, with the second floor also featuring complete living quarters suitable for nightly rental. The building is ready to be transitioned into a boutique hotel, office complex, or other envisioned uses. New roof and awnings are planned for installation in the summer of 2025. Situated on a bustling street, the property offers an opportunity to be part of a growing business community on a lot of 0.25 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ahmann Electric Inc Electrical Service Randolph Appraisal Co Real Estate Agency Mel's on Madison Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Pams Flowers LLC — 519 N Jefferson Ave, Lebanon, MO 65536
    • Smitty's Floral Shoppe — 601 N Jefferson Ave, Lebanon, MO 65536
    • Lilly's Floral — 550 N Jefferson Ave, Lebanon, MO 65536
    • Always Flowers & Plants — Lebanon, MO 65536

    Location Insight

    • Map
    • Local Demand
    City
    Lebanon
    County
    Laclede
    State
    Missouri
    Longitude
    -92.665122
    Latitude
    37.679782

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    FAQs

    What type of property is this?
    Storefront property - Landmark building in downtown Lebanon, ready for diverse ventures.
    Where is this storefront property located?
    The property is located at 201 W Commercial Street Lebanon, MO.
    What is the asking price?
    The asking price for this property is $989,900.
    What are key features of this property?
    This property features: Historic Landmark: The Joe Knight Building, a recognized landmark with historical significance.; Versatile Spaces: Expansive interiors with high ceilings suitable for retail, office, mixed‑use, or boutique hotel development.; Prime Downtown Location: Situated in the heart of Lebanon's bustling downtown.
    (417) 501-6077
    We can help!
    Listing Contact
    417 Property Pros
    Real Estate License ID: 2010038764
    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.

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