New 30-Unit Townhome Rental
For Sale
Contact for pricing
501 Pine Drive, Odessa, MO 64076
Street of 30 new townhomes offers in-unit laundry and attached garages with separate metering for streamlined utility management.
Property Size43,050 SF
Price / SF$156.52
Days on Market97
Property Features for 501 Pine Drive
General Information
Standard status
Active
Size
43,050 SF
Class
A
Total Parking Spaces
30
Property subtype
Multifamily
Zoning
R-2
Occupancy
97%
Investment Type
Stabilized
Net Operating Income
$489,738
Additional Details
Multifamily Units
30
Building Details
Year Built
2025
Buildings
8
Stories
2
Units
30
Tenancy
Multi
Listing Agency:
Lutz Sales + Investments
Listed By:
Michelle Lutz · License #2018036086
(913) 426-5576
Source:
Crexi
Added: Jun 3
Changed: Aug 22
Last Checked: Sep 7 at 9:58AM
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 Lutz Sales + Investments
Investment Insights
Based on property information with market context.
Pine Creek offers a for-sale portfolio of 30 brand-new 3-bedroom, 2.5-bath two-story townhome units in Odessa, Missouri. The property is comprised of six fourplex buildings and two triplex buildings. Each unit includes stainless steel appliances, granite countertops, LVP flooring, an in-unit washer and dryer, and an attached 1-car garage with additional driveway parking. Units are all-electric and separately metered for utilities, including water and trash.
The buildings are individually parceled. The seller also owns adjacent lots that are available for potential future acquisition, providing flexibility for expansion over time. The community is presented as having no HOA.
For buyers and operators seeking a turnkey residential income property, Pine Creek is designed for straightforward management and tenant utility billing, supported by separately metered services across the units. With a third-party property management company currently in place and open to continuing if needed, ownership can be structured for day-to-day ease. The portfolio’s new construction provides an opportunity to acquire a fully modern rental housing asset with defined unit features and contemporary interior finishes throughout the townhome buildings.
The buildings are individually parceled. The seller also owns adjacent lots that are available for potential future acquisition, providing flexibility for expansion over time. The community is presented as having no HOA.
For buyers and operators seeking a turnkey residential income property, Pine Creek is designed for straightforward management and tenant utility billing, supported by separately metered services across the units. With a third-party property management company currently in place and open to continuing if needed, ownership can be structured for day-to-day ease. The portfolio’s new construction provides an opportunity to acquire a fully modern rental housing asset with defined unit features and contemporary interior finishes throughout the townhome buildings.
Key Highlights
- Street of 30 brand‑new 3 bed/2.5 bath, 2‑story townhome units built in 2025
- Unit mix: 6 fourplexes and 2 triplexes within the 30‑unit portfolio
- High‑end interiors include stainless steel appliances, granite countertops, and LVP flooring throughout
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
$451,625
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
6.70%
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%
$9,032,500
$9.0M
Cap Rate 7%
$6,451,786
$6.5M
Cap Rate 9%
$5,018,056
$5.0M
Market Conditions
NOI Build-Up for 43,050 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
$878.2K $20.40/SF
− Vacancy
−$57.1K −$1.33/SF
EGI
$821.1K $19.07/SF
− OpEx
−$369.5K −$8.58/SF
NOI
$451.6K $10.49/SF
Area
Lafayette County, MO
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$9,032,500
Cap Rate 7%
$6,451,786
Cap Rate 9%
$5,018,056
Alternative Uses
Best Use
Apartment 5plus
$6.45M
$5.65M – $7.53M
NOI $451,625 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$9.51M
$8.32M – $11.10M
NOI $665,844 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30
Residential units
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 64076, MO
9,863
Population
3,752
Households
2.6
Avg Household Size
39
Median Age
23%
College-Educated
94%
High-School Grad
124.3 sq mi
ZIP Area
79
Density / Sq Mi
$81,058
Median Household Income
$43,002
Median Earnings
$961
Median Rent
$226,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Street of 30 new townhomes offers in-unit laundry and attached garages with separate metering for streamlined utility management.
Where is this apartment building located?
The property is located at 501 Pine Drive Odessa, MO.
What is the asking price?
The asking price for this property is $6,738,000.
What are key features of this property?
This property features: Street of 30 brand‑new 3 bed/2.5 bath, 2‑story townhome units built in 2025; Unit mix: 6 fourplexes and 2 triplexes within the 30‑unit portfolio; High‑end interiors include stainless steel appliances, granite countertops, and LVP flooring throughout
