Three-Bay Automotive
For Sale
$250,000
306 S Washington Street, Walnut Grove, MO 65770
Commercial Sale, Walnut Grove, MO
Property Size1,800 SF
Lot Size0.36 Acres
Price / SF$138.89
Days on Market44
Property Features for 306 S Washington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INC
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Subdivision
Turners Plat
View
City
Directions
From Springfield/Willard take Hwy 160 west through Willard. Turn Right onto Hwy 123 into Walnut Grove. Road becomes Washington St inside City Limits. Shop is on Right just across from new Dollar General.
Standard status
Active
APN
0522108024
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TURNERS PLAT N 113.12 FT W 138.24 FT LOT 83
Tax Annual Amount
1352
Legal Description
TURNERS PLAT N 113.12 FT W 138.24 FT LOT 83
Utilities
Utilities
Water Available
Heating system
Electric (Heating), Heat Pump (Heating), Natural Gas, Forced Air
Cooling system
Electric, Central Air
Amenities
cooled reception area
office/kitchenette
full bathroom with shower
additional storage
concrete pad
gravel improvements
resealed driveway
Building Details
Year built
2002
Roof type
Metal
Listing Agency:
Keller Williams Local · Keller Williams Realty
(417) 883-4900
Listed By:
Melissa Davis
(417) 844-2605
Added: Aug 15
Changed: Sep 13
Last Checked: Sep 27 at 10:06PM
MLS# 60331607
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 1,800-square-foot Red Iron building, constructed in 2002, is configured as a three-bay automotive shop with insulated walls, heating, cooling, and concrete floors. The garage accommodates four vehicles and includes protective steel posts at both sides of the doors. Service equipment includes a Coats tire machine, Coats wheel balancer, 7.5 HP AC compressor, 9,000-lb two-post lift, 9,000-lb four-post lift, steel shelving, and an oil storage tank.
Customer-facing and administrative improvements include a cooled reception area, office and kitchenette with built-in desk, check-in window, mini fridge, and microwave, plus a full bathroom with shower. The office area has 300 square feet of overhead storage. Exterior work includes a concrete pad, excavation and gravel improvements, added side parking, and a recently resealed driveway. The property is zoned INC and includes water availability.
Customer-facing and administrative improvements include a cooled reception area, office and kitchenette with built-in desk, check-in window, mini fridge, and microwave, plus a full bathroom with shower. The office area has 300 square feet of overhead storage. Exterior work includes a concrete pad, excavation and gravel improvements, added side parking, and a recently resealed driveway. The property is zoned INC and includes water availability.
Key Highlights
- 1,800‑square‑foot Red Iron building on 0.36 acres
- 30' x 60' insulated, heated three‑bay shop with concrete floors
- Garage accommodates 4 vehicles and includes protective steel posts
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
$16,983
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
6.79%
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%
$339,660
$339.7K
Cap Rate 7%
$242,614
$242.6K
Cap Rate 9%
$188,700
$188.7K
Market Conditions
NOI Build-Up for 1,800 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
$25.3K $14.04/SF
− Vacancy
−$1.0K −$0.56/SF
EGI
$24.3K $13.48/SF
− OpEx
−$7.3K −$4.04/SF
NOI
$17.0K $9.43/SF
Area
Greene County, MO
Vacancy
4.00%
Lease Rate
$14.04 /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%
$339,660
Cap Rate 7%
$242,614
Cap Rate 9%
$188,700
Alternative Uses
Best Use
Retail
$242.6K
$212.3K – $283.1K
NOI $16,983 @ 7.0% cap · market cap 6.79%
Second Best
Flex RnD
$142.9K
$125.1K – $166.7K
NOI $10,004 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$590.6K
$516.8K – $689.0K
NOI $41,342 @ 7.0% cap · market cap 16.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Drive-in doors
3
Service bays
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 65770, MO
3,044
Population
1,212
Households
2.5
Avg Household Size
43
Median Age
12%
College-Educated
91%
High-School Grad
95.7 sq mi
ZIP Area
32
Density / Sq Mi
$56,484
Median Household Income
$39,668
Median Earnings
$747
Median Rent
$181,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Auto shop - Insulated commercial facility with service equipment, customer reception, office amenities, and additional storage.
Where is this auto shop located?
The property is located at 306 S Washington Street Walnut Grove, MO.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,800‑square‑foot Red Iron building on 0.36 acres; 30' x 60' insulated, heated three‑bay shop with concrete floors; Garage accommodates 4 vehicles and includes protective steel posts
