Warehouse Shop with Development
For Sale
$55,000
Pending
219 Pine St, Sparta, MO 65753
A garage/shop building on a subdividable lot offers renovation and potential division with city approval.
Property Size1,228 SF
Days on Market34
Property Features for 219 Pine St
General Information
Standard status
Pending
Size
1,228 SF
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$256
Listing Agency:
Baker Homes and Property Management LLC
(417) 719-8684
Listed By:
Team Shackie
(417) 719-8684
Source:
Exprealty
Added: Jul 9
Changed: Aug 8
Last Checked: Jul 20 at 3:21PM
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 Baker Homes and Property Management LLC
Investment Insights
Based on property information with market context.
This property consists of a spacious lot with an existing garage/shop building containing 1,228 square feet on the main floor. The building could be renovated and repurposed for a variety of needs, including potential conversion into a non-traditional living space. With city approval, the lot has the potential to be divided to allow for an additional home to be built.
The property is located just off Main St. in a growing area of town, providing a flexible setup for buyers evaluating options for development or adaptive reuse.
For planning purposes, the key on-site improvement is the existing shop/garage building, complemented by the parcel’s city-approval option to split the lot.
The property is located just off Main St. in a growing area of town, providing a flexible setup for buyers evaluating options for development or adaptive reuse.
For planning purposes, the key on-site improvement is the existing shop/garage building, complemented by the parcel’s city-approval option to split the lot.
Key Highlights
- Spacious lot just off Main St with flexibility for investors, builders, or future development plans
- Includes an existing garage/shop building totaling 1,228 SF on the main floor
- Garage/shop building could be renovated and repurposed to fit a variety of uses
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
$4,782
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
8.69%
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%
$95,640
$95.6K
Cap Rate 7%
$68,314
$68.3K
Cap Rate 9%
$53,133
$53.1K
Market Conditions
NOI Build-Up for 1,228 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
$5.7K $4.68/SF
− Vacancy
−$121 −$0.10/SF
EGI
$5.6K $4.58/SF
− OpEx
−$844 −$0.69/SF
NOI
$4.8K $3.89/SF
Area
Christian County, MO
Vacancy
2.10%
Lease Rate
$4.68 /SF/Yr
Expense Ratio
15.00%
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%
$95,640
Cap Rate 7%
$68,314
Cap Rate 9%
$53,133
Alternative Uses
Best Use
Warehouse
$68.3K
$59.8K – $79.7K
NOI $4,782 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$185.3K
$162.2K – $216.2K
NOI $12,974 @ 7.0% cap · market cap 23.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 65753, MO
4,937
Population
2,212
Households
2.2
Avg Household Size
40
Median Age
18%
College-Educated
93%
High-School Grad
70.9 sq mi
ZIP Area
70
Density / Sq Mi
$77,232
Median Household Income
$40,523
Median Earnings
$791
Median Rent
$215,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - A garage/shop building on a subdividable lot offers renovation and potential division with city approval.
Where is this residential land & home lot located?
The property is located at 219 Pine St Sparta, MO.
What is the asking price?
The asking price for this property is $55,000.
What are key features of this property?
This property features: Spacious lot just off Main St with flexibility for investors, builders, or future development plans; Includes an existing garage/shop building totaling 1,228 SF on the main floor; Garage/shop building could be renovated and repurposed to fit a variety of uses
