Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    31501 Broken Circle Road Stover, MO 65078

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $249,000

    5.88-acre lakefront property with dock, shop, and utilities.

    Type:Land
    Lot size:
    5.88 Acres
    Added:
    Jan 1, 2026
    Days on Market:
    106
    Last Refresh:
    Mar 13 at 1:22 pm

    Property Features for 31501 Broken Circle Road

    General Information

    Standard status
    Active
    Lot size
    5.88 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Steven Morrison

    Listing agent Steven Morrison License #2021047651

    Listing office RE/MAX Lifestyles

    Listing date Jan 1, 2026

    Source Compass

    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 Lifestyles

    Overview

    Lakefront Property with Dock and Shop

    This 5.88-acre lakefront property features over 300 feet of shoreline and views of the lake. A 54’ x 32’ dock includes three boat wells, electric service, water depth, and a storage shed. A 30’ x 40’ shop with concrete floors, three drive-in doors, and a roughed-in bathroom provides flexibility for various uses. Utilities include 50-amp service, wood stove venting, and AC accommodations. A rocked, well-maintained drive leads to the shop. The property includes a prepared homesite. The property is located in Stover, MO.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Hotel & Motel Carpet & Flooring Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Stover
    County
    Morgan
    State
    Missouri
    Longitude
    -92.964525
    Latitude
    38.231614

    Nearby Similar for Sale

    • $50,000

      Historic Building in Downtown Stover

      Historic building in downtown Stover, Missouri, with retail or office potential.
      302 W. 2nd st, Stover, MO 65078
      View Details
    • $50,000

      Historic Building in Downtown Stover

      Historic building in downtown Stover, Missouri, with retail or office potential.
      302 W 2nd st, Stover, MO 65078
      View Details
    • $7,000

      Land Opportunity in Ivy Bend

      Affordable land opportunity in Ivy Bend, Stover, Missouri.
      Dogwood Lake Drive lot: 1,3,5, Stover, MO 65078
      View Details
    • $348,000

      Hunting and Recreational Land

      58.6 acre hunting and recreational land with new cabin.
      27001 Highway T, Stover, MO 65078
      View Details
    • $305,000

      Secluded Land in Morgan County

      86.6+/- acres of secluded land perfect for outdoor enthusiasts.
      Beechnut Road, Stover, MO 65078
      View Details
    • $249,000

      Lakefront Property with Dock and Shop

      5.88-acre lakefront property with dock, shop, and stunning views.
      31501 Broken Circle Road, Stover, MO 65078
      View Details
    • $79,000

      Lakefront Land with Dock, Stover

      Waterfront property with dock, yurt, and short-term rental potential.
      28468 Possum Trot Road, Stover, MO 65078
      View Details
    • $8,000

      Unrestricted Lot Near Lake Access

      Unrestricted 0.5-acre lot with seasonal lake view near amenities.
      Lots 5-10 Ozark View Ln, Stover, MO 65078
      View Details
    • $2,490,000
      10,800 SF

      241 Acres Near Lake Ozarks

      241 wooded acres with motel, RV sites, and home.
      5492 Black Elk Lane, Stover, MO 65078
      View Details
    • $45,000

      10 Acres of Wooded Land

      10 acres of wooded land perfect for hunting or camping.
      30915 Broken Circle Road, Stover, MO 65078
      View Details
    • $249,000

      Lakefront Land with Dock

      5.88-acre lakefront property with dock and shop building.
      31501 Broken Circle Road, Stover, MO 65078
      View Details
    • $8,000

      Unrestricted Land Near Lake Access

      Unrestricted 0.5-acre lot with seasonal lake view near amenities.
      Ozark View Ln lot: 5-10, Stover, MO 65078
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 5.88-acre lakefront property with dock, shop, and utilities.
    Where is this waterfront land located?
    The property is located at 31501 Broken Circle Road Stover, MO.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: 5.88‑acre lakefront property with **over 300 feet of shoreline and stunning views.**; **54’ x 32’ dock with three boat wells, electric service, and great water depth.**; 30’ x 40’ shop with concrete floors, three drive‑in doors, and a roughed‑in bathroom.
    (573) 569-4732
    We can help!
    Listing Contact
    Steven Morrison
    Real Estate License ID: 2021047651
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!