Single-Tenant Retail
For Sale
Contact for pricing
320 East Lexington Street, Richmond, MO 64085
Single-tenant retail building constructed in 2016 with street frontage on Lexington Street in Richmond, Missouri.
Property Size3,183 SF
Lot Size0.75 Acres
Price / SF$377
Days on Market141
Property Features for 320 East Lexington Street
General Information
Standard status
Active
Size
3,183 SF
Class
B
Lot size
0.75 Acres
Property subtype
Retail
Net Operating Income
$105,000
Additional Details
Cap Rate
8.75%
Building Details
Year Built
2016
Stories
1
Tenancy
Single
Listing Agency:
RE/MAX Heritage
Listed By:
Jim Dollins · License #1999032833
(816) 213-8176
Source:
Crexi
Added: Apr 18
Changed: Aug 13
Last Checked: Sep 2 at 5:42PM
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 Heritage
Investment Insights
Based on property information with market context.
This single-tenant retail investment property is located in Richmond, Missouri, and is occupied by a long-term national tenant with support from a corporate guaranty. The building was constructed in 2016 and contains approximately 3,183 square feet.
The property sits on 0.75 acres and offers approximately 180 feet of frontage along Lexington Street, providing visibility and convenient access. The offering is for purchase at $1,200,000 and is underwritten to an 8.75% cap rate with annual Net Operating Income of $105,000.
The property sits on 0.75 acres and offers approximately 180 feet of frontage along Lexington Street, providing visibility and convenient access. The offering is for purchase at $1,200,000 and is underwritten to an 8.75% cap rate with annual Net Operating Income of $105,000.
Key Highlights
- Single‑tenant retail investment property built in 2016 in Richmond, MO
- Approximately 3,183 SF retail building on 0.75 acres
- 180 feet of frontage along Lexington Street with convenient street 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
$49,231
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
4.10%
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%
$984,620
$984.6K
Cap Rate 7%
$703,300
$703.3K
Cap Rate 9%
$547,011
$547.0K
Market Conditions
NOI Build-Up for 3,183 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
$73.3K $23.04/SF
− Vacancy
−$3.0K −$0.94/SF
EGI
$70.3K $22.10/SF
− OpEx
−$21.1K −$6.63/SF
NOI
$49.2K $15.47/SF
Area
Ray County, MO
Vacancy
4.10%
Lease Rate
$23.04 /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%
$984,620
Cap Rate 7%
$703,300
Cap Rate 9%
$547,011
Alternative Uses
Best Use
Retail
$703.3K
$615.4K – $820.5K
NOI $49,231 @ 7.0% cap · market cap 4.10%
Second Best
Specialty Retail
$615.5K
$538.6K – $718.1K
NOI $43,085 @ 7.0% cap · market cap 3.59%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64085, MO
8,841
Population
3,701
Households
2.4
Avg Household Size
42
Median Age
15%
College-Educated
90%
High-School Grad
160.4 sq mi
ZIP Area
55
Density / Sq Mi
$65,525
Median Household Income
$43,402
Median Earnings
$752
Median Rent
$163,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- C & C Discount Pharmacy — 508 Johnny Walker Ln Apt B, Richmond, MO 64085
- Susan E. Duffett, RPH — 401 Wollard Blvd, Richmond, MO 64085
- Red Cross Pharmacy — 320 E Lexington St, Richmond, MO 64085
- CVS — 320 E Lexington St, Richmond, MO 64085
- CVS Pharmacy — 320 E Lexington St, Richmond, MO 64085
Frequently Asked Questions
What type of property is this?
Drug store - Single-tenant retail building constructed in 2016 with street frontage on Lexington Street in Richmond, Missouri.
Where is this drug store located?
The property is located at 320 East Lexington Street Richmond, MO.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Single‑tenant retail investment property built in 2016 in Richmond, MO; Approximately 3,183 SF retail building on 0.75 acres; 180 feet of frontage along Lexington Street with convenient street access
