Building Details

Year built 1920

Floors in Building 2

Flooring type Laminate

Building materials Brick, Frame

Listing Agency: Cannon Realty, Inc. m***@cannoncompanies.com Show Phone

Listed By: Megan Miller · License #2004021003 Show Phone

Added: Oct 14 Changed: Oct 15 Last Checked: Oct 18 at 4:06AM

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MLS# 26043256

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Investment Insights

Based on property information with market context.

This 1920 mixed-use building combines approximately 1,000 square feet of office or retail area on the ground floor with a one-bedroom apartment upstairs. The commercial level has a storefront. The apartment includes a kitchen with new cabinets, countertops, and appliances, along with two mini-split systems. A wall-mounted air-conditioning unit and heating serve the property; other updates include flooring, paint, lighting, a renovated bathroom, electrical work, windows, and doors.

The property occupies a 0.046-acre lot at 318 Broadway Street in Elsberry, Missouri. The adjacent vacant lot is not part of the sale.

Key Highlights

• Approximately 1,000 square feet of ground‑floor office or retail space
• One‑bedroom apartment on the upper level, with potential for a second bedroom
• Storefront at 318 Broadway Street in Elsberry, Missouri

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,150

Cap Rate

8.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$243,000 $243.0K

Cap Rate 7%

$173,571 $173.6K

Cap Rate 9%

$135,000 $135.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,000 SF

Gross rent

$21.6K $21.60/SF

− Vacancy

−$2.2K −$2.16/SF

EGI

$19.4K $19.44/SF

− OpEx

−$7.3K −$7.29/SF

NOI

$12.2K $12.15/SF

Area

Lincoln County, MO

Vacancy

10.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$243,000

Cap Rate 7%

$173,571

Cap Rate 9%

$135,000

Alternative Uses

Best Use

Mixed Use

$173.6K

$151.9K – $202.5K (±1% cap)

NOI $12,150 @ 7.0% cap · market cap 8.74%

Second Best

Retail

$134.8K

$117.9K – $157.3K (±1% cap)

NOI $9,435 @ 7.0% cap · market cap 6.79%

Theoretical Best

Office A

$247.3K

$216.4K – $288.5K (±1% cap)

NOI $17,311 @ 7.0% cap · market cap 12.45%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Building Supply Auto Parts Store Big Box & Wholesale Store Garden Center Grocery & Convenience Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

Location Intelligence

Trade Area within ½ mile

157

Businesses Nearby

21k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Casey's General Store Shops & Services

8,639 visits/mo 0.2 miles

FedEx Office Print & Ship Center Shops & Services

4,291 visits/mo 0.5 miles

Family Dollar Shops & Services

2,753 visits/mo 0.2 miles

Shell Shops & Services

2,620 visits/mo 0.2 miles

People's United Bank Shops & Services

1,623 visits/mo 0.1 miles

Demographics for 63343, MO

4,459

Population

1,849

Households

2.4

Avg Household Size

43

Median Age

15%

College-Educated

91%

High-School Grad

111.4 sq mi

ZIP Area

40

Density / Sq Mi

$71,523

Median Household Income

$40,727

Median Earnings

$933

Median Rent

$149,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A one-bedroom apartment sits above ground-floor office or retail space in this two-level property.

Where is this mixed-use property located?

The property is located at 318 Broadway Street Elsberry, MO.

What is the asking price?

The asking price for this property is $139,000.

What are key features of this property?

This property features: Approximately 1,000 square feet of ground‑floor office or retail space; One‑bedroom apartment on the upper level, with potential for a second bedroom; Storefront at 318 Broadway Street in Elsberry, Missouri