Flex Space Building with Retail and
For Sale
$725,000
Pending
203 W South Street, Ozark, MO 65721
SINGLE_FAMILY - Ozark, MO
Property Size3,960 SF
Lot Size0.25 Acres
Days on Market99
Property Features for 203 W South Street
General Information
Property type
Residential
Property subtype
Retail
Zoning
C-2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Directions
From 65 & 14 at Walmart left on 14 past Walmart to the corner of 14 & S 3rd St
Standard status
Pending
APN
110726003010012000 2024
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3976
Utilities
Utilities
Water Available
Heating system
Natural Gas, Wall Furnace
Building Details
Year built
1987
Roof type
Metal
Listing Agency:
Murney Associates - Primrose
(417) 823-2300
Listed By:
Langston Group · License #2017005672
(417) 280-6661
Added: Apr 30
Changed: Aug 2
Last Checked: Aug 6 at 1:06PM
MLS# 60322572
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.
Investment Insights
Based on property information with market context.
This flex space commercial building includes 1,200 sq. ft. of retail space plus four bays designed for service or storage uses. The bay layout features three 10-foot doors and a 12-foot door, supporting a variety of retail, storage, and service-based operations. Heating is provided by natural gas wall furnaces, and the building has a metal roof.
The property sits on a 0.25-acre site at the high-traffic intersection of Highway 14 and 3rd Street, offering visibility and accessibility. Water is listed as available.
Built in 1987, the building includes multiple bathrooms (three listed in the room data) in addition to the retail and bay areas, providing practical interior space for everyday customer or staff use.
The property sits on a 0.25-acre site at the high-traffic intersection of Highway 14 and 3rd Street, offering visibility and accessibility. Water is listed as available.
Built in 1987, the building includes multiple bathrooms (three listed in the room data) in addition to the retail and bay areas, providing practical interior space for everyday customer or staff use.
Key Highlights
- 1,200 sq. ft. of retail space plus four bays
- Three 10‑foot doors and a 12‑foot door
- 0.25‑acre site
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
$29,471
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
4.06%
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%
$589,420
$589.4K
Cap Rate 7%
$421,014
$421.0K
Cap Rate 9%
$327,456
$327.5K
Market Conditions
NOI Build-Up for 3,960 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
$43.7K $11.04/SF
− Vacancy
−$1.6K −$0.41/SF
EGI
$42.1K $10.63/SF
− OpEx
−$12.6K −$3.19/SF
NOI
$29.5K $7.44/SF
Area
Christian County, MO
Vacancy
3.70%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
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%
$589,420
Cap Rate 7%
$421,014
Cap Rate 9%
$327,456
Alternative Uses
Best Use
Retail
$421.0K
$368.4K – $491.2K
NOI $29,471 @ 7.0% cap · market cap 4.06%
Second Best
Warehouse
$220.3K
$192.8K – $257.0K
NOI $15,422 @ 7.0% cap · market cap 2.13%
Theoretical Best
Office A
$597.7K
$523.0K – $697.3K
NOI $41,839 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 65721, MO
32,975
Population
13,467
Households
2.4
Avg Household Size
36
Median Age
35%
College-Educated
93%
High-School Grad
95.9 sq mi
ZIP Area
344
Density / Sq Mi
$76,552
Median Household Income
$41,653
Median Earnings
$991
Median Rent
$253,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Sands Cafe & Catering — 211 E South St, Ozark, MO 65721
Frequently Asked Questions
What type of property is this?
Flex space - C-2 zoned flex building at a high-traffic intersection with metal roof, natural gas heat, and four bays with 10-foot doors.
Where is this flex space located?
The property is located at 203 W South Street Ozark, MO.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 1,200 sq. ft. of retail space plus four bays; Three 10‑foot doors and a 12‑foot door; 0.25‑acre site
