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    Commercial Property in Fair Play Title is generated by Realmo AI

    401 W 1st Street, Fair Play, MO 65649

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    For Sale
    $175,000

    SINGLE_FAMILY - Fair Play, MO

    Type:Retail
    Property size:
    2,670 SF
    Lot size:
    0.31 Acres
    Price / SF:
    $65/SF
    Added:
    Apr 23, 2026
    Days on Market:
    22
    Last Refresh:
    May 14 at 10:06 pm

    Property Features for 401 W 1st Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Active
    APN
    89-05-0.9-32-004-012-005.00
    Size
    2,670 SF
    Lot size
    0.31 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Fair Play - Griffin Add. - Lot 3 - Block 2
    Tax Annual Amount
    1246

    Utilities

    Utilities
    Water Available
    Heating system
    Forced Air, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1982
    Roof type
    Metal

    We can help!

    Listing Contact
    Billy Bruce
    Billy Bruce

    Listing agent Billy Bruce License #2022030802

    Listing office Billy Bruce Realty 1326 W Broadway, Bolivar, MO

    Listing date Apr 23, 2026

    MLS# 60321675

    Copyright © 2026 Southern Missouri Regional MLS, LLC (SOMO). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Versatile Commercial Property, ideal for retail, service business, workshop. Could be converted to multi‑unit/duplex.
    • Two Buildings: Main building offers 2,670 sq ft, with an additional 1,230 sq ft building.
    • High Visibility & Accessibility with 128 ft of frontage, side street access, and parking for approximately 10 vehicles.
    • Convenient Loading Access with a centrally located garage door.
    • Established Infrastructure: Includes city water/sewer and central heat/air.
    • Strategic Location on Highway 32, near Stockton Lake, benefiting from consistent traffic.

    Overview

    This commercial property in Fair Play, Missouri, offers 2,670 square feet of heated and cooled space, along with an additional 1,230-square-foot building. Currently operating as Fair Play Antiques and Furniture, the property has a history of success. The main building features an open showroom layout with a midpoint divider wall, allowing the space to function as one or be separated. A centrally located garage door provides access for loading, storage, or light commercial use. With approximately 128 feet of frontage, side street access, and parking for around 10 vehicles, the property offers visibility and practicality. The layout and infrastructure support a range of possibilities including retail, service-based business, workshop space, or conversion to a multi-unit or duplex-style setup. City water and sewer, along with central heat and air, are already in place, and the building has been well maintained. Located along Highway 32 and just minutes from Stockton Lake, this property benefits from consistent year-round traffic and seasonal lake activity. The property sits on a 0.31-acre lot. It is located in a part of town where access is easy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fair Play Antiques ... Home Decor Store

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Big Box & Wholesale Store Department Store HVAC Service Food Market Grocery & Convenience Store (Bike/Boat/Book/etc) Store Furniture & Home Goods

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

    Location Insight

    • Map
    • Local Demand
    City
    Fair Play
    County
    Polk
    State
    Missouri
    Longitude
    -93.578814
    Latitude
    37.630253

    FAQs

    What type of property is this?
    Retail space - Adaptable commercial property in Fair Play, Missouri, with highway frontage.
    Where is this retail space located?
    The property is located at 401 W 1st Street Fair Play, MO.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Versatile Commercial Property, ideal for retail, service business, workshop. Could be converted to multi‑unit/duplex.; Two Buildings: Main building offers 2,670 sq ft, with an additional 1,230 sq ft building.; High Visibility & Accessibility with 128 ft of frontage, side street access, and parking for approximately 10 vehicles.
    (417) 399-4800
    We can help!
    Listing Contact
    Billy Bruce
    Billy Bruce
    Real Estate License ID: 2022030802
    Learn More
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    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
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