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    Historical Building with Endless Possibilities Title is generated by Realmo AI

    301 S Miller Street, Sweet Springs, MO 65351

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    Claim this Listing
    For Sale
    $280,000

    COMMERCIAL - Sweet Springs, MO

    Lot size:
    0.10 Acres
    Added:
    Sep 7, 2025
    Days on Market:
    258
    Last Refresh:
    May 22 at 8:06 am

    Property Features for 301 S Miller Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    BUS
    Parking features
    On Street
    Interior features
    Elevator, Storage, In-Law Floorplan
    Accessibility
    Accessible Elevator Installed, Accessible Approach with Ramp
    Standard status
    Active
    APN
    65351
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1489

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1900
    Floors in Building
    2
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Robin Clark

    Listing agent Robin Clark License #2003019739

    Listing office RE/MAX Innovations 3200 NE 83rd St, Kansas City, MO

    Listing date Sep 7, 2025

    MLS# 2574368

    Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Meticulously updated and maintained historical building with charm and character.
    • Versatile layout divisible into three distinct dining areas, ideal for events and rental opportunities.
    • Upper level offers opportunity to create stylish apartments, storage, or expanded restaurant space.
    • Equipped with a loading dock and robust freight elevator for easy access.
    • Ample storage facilities.
    • Equipped with meter and 3 phase meter.

    Overview

    This meticulously updated and maintained historical building in Sweet Springs exudes charm and character. It features exquisite original woodwork and a wealth of updates, combining timeless elegance with modern functionality. The spacious interiors offer ample storage facilities, a convenient loading dock, and a robust freight elevator for easy access. The upper level presents an exciting opportunity to create stylish apartments, additional storage, or even expanded restaurant space, catering to diverse needs. Equipped with a meter and 3 phase meter, this versatile building allows for multiple configurations. The layout can be effortlessly divided into three distinct dining areas, making it ideal for hosting a variety of events and offering rental opportunities. The property is located in Saline County, MO, and sits on a 0.0964-acre lot. The building's zoning is BUS. This building represents a golden investment opportunity waiting to be realized and an opportunity to be part of Sweet Springs revitalization.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Debs Floral And Gifts — 325 Spring St, Sweet Springs, MO 65351

    Location Insight

    • Map
    • Local Demand
    City
    Sweet Springs
    County
    Saline
    State
    Missouri
    Longitude
    -93.417551
    Latitude
    38.969685

    Nearby Similar for Sale

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    • $475,000

      New Brick 4-Plex Investment

      Newly built 4-plex in Sweet Springs, Missouri, near I-70.
      201 Highland Street, Sweet Springs, MO 65351
      View Details

    FAQs

    What type of property is this?
    Storefront property - Updated historical building in Sweet Springs, MO with development potential.
    Where is this storefront property located?
    The property is located at 301 S Miller Street Sweet Springs, MO.
    What is the asking price?
    The asking price for this property is $280,000.
    What are key features of this property?
    This property features: Meticulously updated and maintained historical building with charm and character.; Versatile layout divisible into three distinct dining areas, ideal for events and rental opportunities.; Upper level offers opportunity to create stylish apartments, storage, or expanded restaurant space.
    (816) 200-6513
    We can help!
    Listing Contact
    Robin Clark
    Real Estate License ID: 2003019739
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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