Flex Space High-Clearance Industrial
New
For Sale
$679,000
705 Ada Street, Adrian, MO 64720
COMMERCIAL - Adrian, MO
Property Size9,356 SF
Lot Size2.75 Acres
Price / SF$72.57
Days on Market7
Property Features for 705 Ada Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M-2
Parking
5
Parking features
Parking Lot, Garage
Directions
From Interstate 49 at exit 141 turn west towards town and take first left and head one block south to property.
Subdivision
230 - Bates County, Mo
Standard status
Active
APN
Multiple see remarks
Lot size
2.75 Acres
Taxes and HOA fees
Tax Description
Lots 11, 11.01 & 12 LOT BLOCK H SMITH'S ADDITION
Tax Annual Amount
1863
Legal Description
Lots 11, 11.01 & 12 LOT BLOCK H SMITH'S ADDITION
Utilities
Utilities
Water Available
Building Details
Floors in Building
1
Listing Agency:
Platinum Realty LLC
(888) 220-0988
Listed By:
Christopher Beshore
(816) 289-1521
Added: Jul 31
Changed: Aug 4
Last Checked: Aug 6 at 12:06PM
MLS# 2634591
Copyright © 2026 Heartland Multiple Listing Service. 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 flex space property combines a high-clearance steel-frame shop building, a secondary shop with multiple vehicle bays, and a dedicated office building. The main shop is a 6,000 SF steel-frame structure with a 300 SF office and restroom. The secondary shop is 1,800 SF and features five overhead doors for vehicle, equipment, or materials access. A separate 1,256 SF office building includes three private offices, a full bathroom with shower, a kitchen, and a receptionist area.
The property sits on over 2.75 acres, supporting exterior storage, equipment parking, and outdoor operations. It is zoned M-2 industrial, and the tenant mix is currently suited for heavy-use automotive and mechanical work, as it is leased to a diesel mechanic and engine repair business. Parking is available via a parking lot and garage, and water is available for the site. Parcel information for the property includes 0802003020001012000, 0802003020001011010, and 0802003020001011000.
The property sits on over 2.75 acres, supporting exterior storage, equipment parking, and outdoor operations. It is zoned M-2 industrial, and the tenant mix is currently suited for heavy-use automotive and mechanical work, as it is leased to a diesel mechanic and engine repair business. Parking is available via a parking lot and garage, and water is available for the site. Parcel information for the property includes 0802003020001012000, 0802003020001011010, and 0802003020001011000.
Key Highlights
- Zoned M‑2 industrial with 2.75 acres for exterior storage and outdoor operations
- 6,000 SF steel‑frame main shop with a 300 SF office and restroom
- 1,800 SF secondary shop with five overhead doors
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
$54,295
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
8.00%
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%
$1,085,900
$1.1M
Cap Rate 7%
$775,643
$775.6K
Cap Rate 9%
$603,278
$603.3K
Market Conditions
NOI Build-Up for 9,356 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
$89.8K $9.60/SF
− Vacancy
−$6.3K −$0.67/SF
EGI
$83.5K $8.93/SF
− OpEx
−$29.2K −$3.12/SF
NOI
$54.3K $5.80/SF
Area
Bates County, MO
Vacancy
7.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,085,900
Cap Rate 7%
$775,643
Cap Rate 9%
$603,278
Alternative Uses
Best Use
Office B
$1.84M
$1.61M – $2.15M
NOI $129,067 @ 7.0% cap · market cap 19.01%
Second Best
Flex RnD
$775.6K
$678.7K – $904.9K
NOI $54,295 @ 7.0% cap · market cap 8.00%
Theoretical Best
Retail
$2.07M
$1.81M – $2.41M
NOI $144,707 @ 7.0% cap · market cap 21.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 64720, MO
3,869
Population
1,735
Households
2.2
Avg Household Size
43
Median Age
12%
College-Educated
91%
High-School Grad
132.8 sq mi
ZIP Area
29
Density / Sq Mi
$72,619
Median Household Income
$39,219
Median Earnings
$754
Median Rent
$163,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Zoned M-2 and leased to a diesel mechanic/engine repair business, with steel-frame shop, office, and outdoor space.
Where is this flex space located?
The property is located at 705 Ada Street Adrian, MO.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Zoned M‑2 industrial with 2.75 acres for exterior storage and outdoor operations; 6,000 SF steel‑frame main shop with a 300 SF office and restroom; 1,800 SF secondary shop with five overhead doors
