Brick Office Unit with
For Sale
$224,900
203 W Booneslick Road, Warrenton, MO 63383
Commercial Sale, Warrenton, MO
Property Size1,528 SF
Lot Size0.18 Acres
Price / SF$147.19
Days on Market46
Property Features for 203 W Booneslick Road
General Information
Property type
Commercial Sale
Property subtype
Office
Appliances
Dishwasher, Electric Range, Refrigerator, Gas Water Heater
Directions
I-70 W to exit 193 for MO-47 (Warrenton), left onto S. Hwy 47, follow for .8 miles to a right on Booneslick Rd/E Main St. Destination is a half mile on the right.
Subdivision
469 - Warrenton R-3
Standard status
Active
APN
05-28.0-2-17-006.000.000
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1786
Utilities
Utilities
Propane
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Building materials
Brick
Listing Agency:
Westbound Real Estate LLC
(636) 456-5922
Listed By:
Phil Reid · License #1999015911
(800) 656-7595
Added: Jul 22
Changed: Aug 19
Last Checked: Sep 5 at 10:06PM
MLS# 26013425
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 brick commercial building dates to 1920 and offers 0.183 acres in Warrenton. The interior includes a spacious dining area, high ceilings, original woodwork, a butler’s pantry, two bedrooms, and one bathroom. An attic and full basement provide additional storage or utility areas, while a covered front porch defines the entry. Central air, forced-air heat, a gas water heater, electric range, refrigerator, and dishwasher are in place.
The property is located at 203 W Booneslick Road on Main Street in Warrenton, with C-2 zoning. A gravel area behind the building provides parking space. Public water service and propane are available, and the exterior is constructed of brick.
The property is located at 203 W Booneslick Road on Main Street in Warrenton, with C-2 zoning. A gravel area behind the building provides parking space. Public water service and propane are available, and the exterior is constructed of brick.
Key Highlights
- 1,528 Sq Ft commercial building on 0.183 acres
- C‑2 zoning at 203 W Booneslick Road, Warrenton
- Brick construction with 1920 year built
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
$20,595
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
9.16%
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%
$411,900
$411.9K
Cap Rate 7%
$294,214
$294.2K
Cap Rate 9%
$228,833
$228.8K
Market Conditions
NOI Build-Up for 1,528 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
$35.2K $23.04/SF
− Vacancy
−$7.7K −$5.07/SF
EGI
$27.5K $17.97/SF
− OpEx
−$6.9K −$4.49/SF
NOI
$20.6K $13.48/SF
Area
Warren County, MO
Vacancy
22.00%
Lease Rate
$23.04 /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%
$411,900
Cap Rate 7%
$294,214
Cap Rate 9%
$228,833
Alternative Uses
Best Use
Office B
$294.2K
$257.4K – $343.3K
NOI $20,595 @ 7.0% cap · market cap 9.16%
Second Best
Retail
$205.9K
$180.2K – $240.3K
NOI $14,416 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$377.9K
$330.7K – $440.9K
NOI $26,452 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Explore this area
Business Placement
Demographics for 63383, MO
15,340
Population
6,523
Households
2.4
Avg Household Size
41
Median Age
17%
College-Educated
90%
High-School Grad
160.1 sq mi
ZIP Area
96
Density / Sq Mi
$75,833
Median Household Income
$39,152
Median Earnings
$1,021
Median Rent
$227,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - C-2 zoning and a flexible interior include dining space, high ceilings, a butler’s pantry, attic, and full basement.
Where is this office units located?
The property is located at 203 W Booneslick Road Warrenton, MO.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 1,528 Sq Ft commercial building on 0.183 acres; C‑2 zoning at 203 W Booneslick Road, Warrenton; Brick construction with 1920 year built
