Townhome-Style Apartment
For Sale
$1,080,000
2020 Walden Blvd, Cape Girardeau, MO 63701
Multifamily residences feature private entrances, attached garages, contemporary finishes, and access to shared community amenities.
Property Size5,395 SF
Days on Market55
Property Features for 2020 Walden Blvd
General Information
Standard status
Active
Size
5,395 SF
Property subtype
Multifamily
Building Details
Building Size
5,395 SF
Listed By:
Matt Huber · License #MO #2023031239
(573) 510-3993
Source:
Lorimont
Added: Jul 10
Changed: Aug 31
Last Checked: Sep 1 at 4:09PM
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 Matt Huber
Investment Insights
Based on property information with market context.
This multifamily property consists of townhome residences in the Walden Park subdivision. Each residence offers a spacious 2-bedroom, 2-bathroom layout of approximately 1,000 SF, with an open arrangement connecting the living, dining, and kitchen areas. Private entrances, luxury vinyl plank flooring, quartz countertops, stainless steel appliances, walk-in closets, built-in computer nooks, and in-unit washers and dryers are included. Every unit also has an attached private two-car tandem garage. The residences were built approximately 5 years ago.
Shared amenities include a community pool, clubhouse, and 24-hour fitness center. The property also provides direct access to the Cape Girardeau City walking trail system, with proximity to Cape Girardeau County Park North and the Nature Center trail network. Located at 2020 Walden Blvd in Cape Girardeau, Missouri, the property combines individual townhome-style living spaces with community facilities and nearby recreational access.
Shared amenities include a community pool, clubhouse, and 24-hour fitness center. The property also provides direct access to the Cape Girardeau City walking trail system, with proximity to Cape Girardeau County Park North and the Nature Center trail network. Located at 2020 Walden Blvd in Cape Girardeau, Missouri, the property combines individual townhome-style living spaces with community facilities and nearby recreational access.
Key Highlights
- 2‑bedroom, 2‑bathroom residences with approximately 1,000 SF per unit
- Attached private two‑car tandem garage for every unit
- Built approximately 5 years ago with modern construction and finishes
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
$39,737
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
3.68%
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%
$794,740
$794.7K
Cap Rate 7%
$567,671
$567.7K
Cap Rate 9%
$441,522
$441.5K
Market Conditions
NOI Build-Up for 5,395 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
$77.7K $14.40/SF
− Vacancy
−$5.4K −$1.01/SF
EGI
$72.2K $13.39/SF
− OpEx
−$32.5K −$6.03/SF
NOI
$39.7K $7.37/SF
Area
Cape Girardeau County, MO
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$794,740
Cap Rate 7%
$567,671
Cap Rate 9%
$441,522
Alternative Uses
Best Use
Apartment 5plus
$567.7K
$496.7K – $662.3K
NOI $39,737 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,141 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily residences feature private entrances, attached garages, contemporary finishes, and access to shared community amenities.
Where is this apartment building located?
The property is located at 2020 Walden Blvd Cape Girardeau, MO.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom residences with approximately 1,000 SF per unit; Attached private two‑car tandem garage for every unit; Built approximately 5 years ago with modern construction and finishes
