Downtown Mixed-Use Investment
203 Elm St Washington, MO 63090
For Sale
$1,390,000
Renovated mixed-use building with three ground-floor commercial suites and seven occupied apartments above.
Property Size11,847 SF
Price / SF$117.33
Days on Market23
Property Features for 203 Elm St
General Information
Standard status
Active
Size
11,847 SF
Listing Agency:
ELS Real Estate Group, LLC
(636) 234-5838
Listed By:
Jacob Stallmann
(636) 234-5838
Source:
Exprealty
Added: Jul 8
Changed: Jul 26
Last Checked: Jul 29 at 1:59PM
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 ELS Real Estate Group, LLC
Investment Insights
Based on property information with market context.
The Schroeder Building at 203 Elm Street is a renovated downtown mixed-use property featuring three ground-floor commercial suites and seven one-bedroom apartments on the upper floors. The commercial component includes Suite 100, Suite 100A, and Suite 101, with Suite 101 offering a multi-office floor plan and a ground-floor address on Elm Street. The apartment units are fully occupied, and each lease includes automatic 12-month renewal provisions. All appliances are included with the sale, and one commercial suite (Suite 101) is vacant and ready.
The property is zoned C-3. A city occupancy inspection passed in December 2025.
For 2025, reported net operating income is $70,299. The full financial package is available on request.
The property is zoned C-3. A city occupancy inspection passed in December 2025.
For 2025, reported net operating income is $70,299. The full financial package is available on request.
Key Highlights
- Downtown Washington, MO mixed‑use building with 10 total units and 11,847 total SF
- Three ground‑floor commercial suites: Suite 100 (2,650 SF), Suite 100A (2,250 SF), Suite 101 (2,100 SF)
- Seven fully occupied one‑bedroom apartments above, ranging from 635 to 812 SF, renting $850 to $920/month with automatic 12‑month lease renewals
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $213.2k | $18.00 |
| − Vacancy | −$25.6k | −$2.16 |
| EGI | $187.7k | $15.84 |
| − OpEx | −$70.4k | −$5.94 |
| NOI | $117.3k | $9.90 |
11,847 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$2.28M
$2.00M – $2.66M
NOI $159,679 @ 7.0% cap · market cap 11.49%
Second Best
Mixed Use
$1.68M
$1.47M – $1.95M
NOI $117,285 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,144 @ 7.0% cap · market cap 17.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated mixed-use building with three ground-floor commercial suites and seven occupied apartments above.
Where is this apartment building located?
The property is located at 203 Elm St Washington, MO.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Downtown Washington, MO mixed‑use building with 10 total units and 11,847 total SF; Three ground‑floor commercial suites: Suite 100 (2,650 SF), Suite 100A (2,250 SF), Suite 101 (2,100 SF); Seven fully occupied one‑bedroom apartments above, ranging from 635 to 812 SF, renting $850 to $920/month with automatic 12‑month lease renewals
