Renovated Office
For Sale
Contact for pricing
205 South Main Avenue, Bolivar, MO 65613
Three private offices, a prep kitchen, and basement space create a practical professional layout.
Property Size1,320 SF
Price / SF$181.74
Days on Market9
Property Features for 205 South Main Avenue
General Information
Standard status
Active
Size
1,320 SF
Property subtype
Office
Amenities
prep kitchen
full basement
Building Details
Year Built
1920
Units
4
Listing Agency:
Partin Real Estate
Listed By:
Robert M Partin · License #MO 2014004709
Source:
Crexi
Added: Aug 12
Changed: Aug 19
Last Checked: Aug 20 at 1:55PM
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 Partin Real Estate
Investment Insights
Based on property information with market context.
Built in 1920, this office property at 205 South Main Avenue includes three private offices, a prep kitchen, and a full basement. A complete rehabilitation was finished last year, updating the property for continued office use.
Two of the offices are currently rented. The property is positioned just off the square on Main, providing a central Bolivar setting for professional occupants.
Two of the offices are currently rented. The property is positioned just off the square on Main, providing a central Bolivar setting for professional occupants.
Key Highlights
- Three private offices included
- Prep kitchen and full basement
- Complete rehabilitation finished last year
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
$10,460
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
4.36%
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%
$209,200
$209.2K
Cap Rate 7%
$149,429
$149.4K
Cap Rate 9%
$116,222
$116.2K
Market Conditions
NOI Build-Up for 1,320 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
$14.6K $11.04/SF
− Vacancy
−$627 −$0.47/SF
EGI
$13.9K $10.57/SF
− OpEx
−$3.5K −$2.64/SF
NOI
$10.5K $7.92/SF
Area
Polk County, MO
Vacancy
4.30%
Lease Rate
$11.04 /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%
$209,200
Cap Rate 7%
$149,429
Cap Rate 9%
$116,222
Alternative Uses
Best Use
Office B
$149.4K
$130.8K – $174.3K
NOI $10,460 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$199.2K
$174.3K – $232.4K
NOI $13,946 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
Explore this area
Business Placement
Demographics for 65613, MO
17,890
Population
7,327
Households
2.4
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
184.9 sq mi
ZIP Area
97
Density / Sq Mi
$56,919
Median Household Income
$31,765
Median Earnings
$828
Median Rent
$197,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Three private offices, a prep kitchen, and basement space create a practical professional layout.
Where is this office units located?
The property is located at 205 South Main Avenue Bolivar, MO.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Three private offices included; Prep kitchen and full basement; Complete rehabilitation finished last year
