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    508 Franklin St Kirksville, MO 63501

    For Sale
    $439,000

    Five-unit apartment building, Kirksville, MO

    Property size:
    1 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a five-unit apartment building located at 508/510 South Franklin Street in Kirksville, Missouri, zip code 63501. The property, built in 1930, is a two-story structure and offers a compelling return for investors. The building comprises five units, with units A, B, C, and 508 having undergone complete renovations in recent years. Currently, Unit A is owner-occupied, presenting a unique opportunity for immediate income generation. Unit D, once renovated, will further enhance the property's rental income potential. The property's advantageous location places it in close proximity to Truman State and A.T. Still Universities, ensuring a consistent demand for rental units. A sizable basement offers versatile space, ideal for storage or a workshop. A virtual tour is available for a comprehensive view of this property. The asking price for this multifamily investment is $439,000. The square footage of the building is not specified.

    Property Features for 508 Franklin St

    General Information

    Property type
    Multifamily properties
    Square Feet
    1 SF

    Building Details

    Year Built
    1930
    Stories
    2
    Units
    5

    HighLights

    • Five‑unit multifamily investment property at 508/510 South Franklin Street, Kirksville, MO 63501.
    • Built in 1930, this two‑story building offers a strong return on investment.
    • Four of the five units are renovated, with one currently owner‑occupied.
    • Excellent location near Truman State and A.T. Still Universities ensures high rental demand.
    • Large basement provides ample storage or workshop space.
    • Asking price: $439,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Kirksville
    County
    Adair
    State
    Missouri
    Longitude
    -92.5835647
    Latitude
    40.1909705

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit apartment building, Kirksville, MO
    Where is this multifamily property located?
    The property is located at 508 Franklin St Kirksville, MO.
    What is the asking price?
    The asking price for this property is $439,000.
    What are key features of this property?
    This property features: Five-unit multifamily investment property at 508/510 South Franklin Street, Kirksville, MO 63501.; Built in 1930, this two-story building offers a strong return on investment.; Four of the five units are renovated, with one currently owner-occupied.
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    Kirksville, MO 63501
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    Realmo Value Estimation

    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.

    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.

    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
    508 Franklin St Kirksville, MO 63501
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