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309 E Park Lane, Odessa, MO 64076
8,000 SF commercial property with highway visibility in growing area.
Property Size8,000 SF
Price / SF$53.74
Days on Market920
Property Features for 309 E Park Lane
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Industrial, Retail
Zoning
Comm
Building Details
Year Built
2004
Stories
1
Listing Agency:
RE/MAX Heartland
Listed By:
Asheley Sisk
Source:
Crexi
Added: Feb 14, 2024
Changed: Aug 14
Last Checked: Aug 14 at 5:59AM
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 RE/MAX Heartland
Investment Insights
Based on property information with market context.
This 8,000 square foot commercial property is located in a rapidly growing area and was originally designed as eight 1,000 SF units. Each unit features its own private bathroom and overhead door, offering flexibility for a variety of tenants or business types. The property is currently partially leased and continues to attract strong interest from prospective tenants, making it an investment opportunity with potential for immediate income. Strategically positioned with highway visibility, the building offers exposure and easy access, enhancing its long-term value and appeal. The property is suitable for investors expanding their portfolio or business owners seeking a flexible commercial space.
Key Highlights
- Income‑generating potential with existing leases and strong tenant interest.
- Flexible design with eight 1,000 SF units, each with a private bathroom and overhead door.
- High visibility location with easy highway access.**
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
$31,117
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
7.24%
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%
$622,340
$622.3K
Cap Rate 7%
$444,529
$444.5K
Cap Rate 9%
$345,744
$345.7K
Market Conditions
NOI Build-Up for 8,000 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
$47.0K $5.88/SF
− Vacancy
−$2.6K −$0.32/SF
EGI
$44.5K $5.56/SF
− OpEx
−$13.3K −$1.67/SF
NOI
$31.1K $3.89/SF
Area
Lafayette County, MO
Vacancy
5.50%
Lease Rate
$5.88 /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%
$622,340
Cap Rate 7%
$444,529
Cap Rate 9%
$345,744
Alternative Uses
Best Use
Mixed Use
$1.36M
$1.19M – $1.58M
NOI $95,040 @ 7.0% cap · market cap 22.11%
Second Best
Flex RnD
$1.17M
$1.03M – $1.37M
NOI $82,118 @ 7.0% cap · market cap 19.10%
Theoretical Best
Retail
$1.77M
$1.55M – $2.06M
NOI $123,734 @ 7.0% cap · market cap 28.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 64076, MO
9,863
Population
3,752
Households
2.6
Avg Household Size
39
Median Age
23%
College-Educated
94%
High-School Grad
124.3 sq mi
ZIP Area
79
Density / Sq Mi
$81,058
Median Household Income
$43,002
Median Earnings
$961
Median Rent
$226,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 8,000 SF commercial property with highway visibility in growing area.
Where is this mixed-use property located?
The property is located at 309 E Park Lane Odessa, MO.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Income‑generating potential with existing leases and strong tenant interest.; Flexible design with **eight 1,000 SF units, each with a private bathroom and overhead door.**; High visibility location with easy highway access.**
