Nine-Unit Apartment
For Sale
$549,900
239 N Middle Street, Cape Girardeau, MO 63701
The property includes off-street parking and is minutes from SEMO State University.
Property Size5,943 SF
Price / SF$92.53
Days on Market81
Property Features for 239 N Middle Street
General Information
Standard status
Active
Size
5,943 SF
Property subtype
Residential Income
Units
Unit Mix
1 x studio, 1 x two bedroom, 1 bath, 1 x three bedrooms 1/5 bath, 1 x two bedroom, 2 bath plus bonus room
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$1,022
Building Details
Building Size
5,943 SF
Year Built
1904
Buildings
1
Units
9
Listing Agency:
Flowers Home Realty
(636) 348-0222
Listed By:
Marletta Flowers · License #2006018112
(314) 614-8707
Source:
Flowershomerealty
Added: Aug 7
Changed: Oct 26
Last Checked: Oct 26 at 4:12AM
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 Flowers Home Realty
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Investment Insights
Based on property information with market context.
Built in 1904, this 5,943-square-foot apartment building contains nine units. The stated unit mix includes studio, two-bedroom, three-bedroom, and four-bedroom apartments; configurations vary in bathroom count, and one two-bedroom unit includes a bonus room. Off-street parking is available.
The property is minutes from SEMO State University in Cape Girardeau, Missouri.
The property is minutes from SEMO State University in Cape Girardeau, Missouri.
Key Highlights
- Nine apartment units in a 5,943‑square‑foot building
- Unit mix includes studio, two‑bedroom, three‑bedroom, and four‑bedroom apartments
- One two‑bedroom apartment includes a bonus room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,774
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$875,480
$875.5K
Cap Rate 7%
$625,343
$625.3K
Cap Rate 9%
$486,378
$486.4K
Market Conditions
NOI Build-Up for 5,943 SF
Gross rent
$85.6K $14.40/SF
− Vacancy
−$6.0K −$1.01/SF
EGI
$79.6K $13.39/SF
− OpEx
−$35.8K −$6.03/SF
NOI
$43.8K $7.37/SF
Area
Cape Girardeau County, MO
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$875,480
Cap Rate 7%
$625,343
Cap Rate 9%
$486,378
Alternative Uses
Best Use
Apartment 5plus
$625.3K
$547.2K – $729.6K
NOI $43,774 @ 7.0% cap · market cap 7.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,243 @ 7.0% cap · market cap 23.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,106
Businesses Nearby
Explore this area
Business Placement
Demographics for 63701, MO
39,246
Population
17,834
Households
2.2
Avg Household Size
35
Median Age
39%
College-Educated
94%
High-School Grad
132.7 sq mi
ZIP Area
296
Density / Sq Mi
$67,904
Median Household Income
$32,655
Median Earnings
$863
Median Rent
$209,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - The property includes off-street parking and is minutes from SEMO State University.
Where is this apartment building located?
The property is located at 239 N Middle Street Cape Girardeau, MO.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Nine apartment units in a 5,943‑square‑foot building; Unit mix includes studio, two‑bedroom, three‑bedroom, and four‑bedroom apartments; One two‑bedroom apartment includes a bonus room
