Updated Mixed-Use
For Sale
$145,000
318 Broadway Street, Elsberry, MO 63343
Commercial Sale, Elsberry, MO
Property Size1,000 SF
Lot Size0.05 Acres
Price / SF$145
Days on Market48
Property Features for 318 Broadway Street
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Dishwasher, Instant Hot Water, Microwave, Oven, Electric Oven, Refrigerator
Subdivision
460 - Elsberry R-2
Standard status
Active
APN
028028001011008000
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
863
Utilities
Utilities
Phone Available
Heating system
Electric (Heating)
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Flooring type
Laminate
Building materials
Brick, Frame
Listing Agency:
Cannon Realty, Inc.
(636) 462-5400
Listed By:
Megan Miller · License #2004021003
(636) 358-5907
Added: Jul 22
Changed: Sep 3
Last Checked: Sep 7 at 11:06AM
MLS# 26043256
Copyright © 2026 Mid America Regional Information Systems, Inc. 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 two-level mixed-use property pairs a commercial storefront area on the main floor with a residential apartment above. The lower level contains approximately 1,000 sq. ft. of office or retail space. Upstairs, the apartment includes one bedroom and may accommodate a second bedroom. The commercial area has received new flooring, paint, lighting, a renovated bathroom, updated electrical, windows, doors, and wall-mounted air conditioning and heating.
Apartment improvements include new kitchen cabinets, countertops, and appliances, along with two mini-split systems. Additional features include brick and frame construction, laminate flooring, electric heat, wall-unit cooling, public water, and phone availability. The property was built in 1920 and sits on a 0.046-acre lot at 318 Broadway Street in Elsberry, Missouri. The adjacent vacant lot is excluded from the sale.
Apartment improvements include new kitchen cabinets, countertops, and appliances, along with two mini-split systems. Additional features include brick and frame construction, laminate flooring, electric heat, wall-unit cooling, public water, and phone availability. The property was built in 1920 and sits on a 0.046-acre lot at 318 Broadway Street in Elsberry, Missouri. The adjacent vacant lot is excluded from the sale.
Key Highlights
- Approximately 1,000 sq. ft. of main‑level office or retail space
- Upper‑level 1‑bedroom apartment with potential for a second bedroom
- Apartment improvements include new cabinets, countertops, appliances, and two mini‑split systems
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
$12,150
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
8.38%
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%
$243,000
$243.0K
Cap Rate 7%
$173,571
$173.6K
Cap Rate 9%
$135,000
$135.0K
Market Conditions
NOI Build-Up for 1,000 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
$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 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%
$243,000
Cap Rate 7%
$173,571
Cap Rate 9%
$135,000
Alternative Uses
Best Use
Office B
$192.5K
$168.5K – $224.6K
NOI $13,478 @ 7.0% cap · market cap 9.30%
Second Best
Mixed Use
$173.6K
$151.9K – $202.5K
NOI $12,150 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$247.3K
$216.4K – $288.5K
NOI $17,311 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combines a storefront commercial area with an upstairs one-bedroom apartment.
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 $145,000.
What are key features of this property?
This property features: Approximately 1,000 sq. ft. of main‑level office or retail space; Upper‑level 1‑bedroom apartment with potential for a second bedroom; Apartment improvements include new cabinets, countertops, appliances, and two mini‑split systems
