Warehouse for
For Sale
$57,500
903 State Highway Z, Cape Girardeau, MO 63701
Warehouse and industrial property offered for sale in Cape Girardeau County, Missouri.
Property Size620 SF
Days on Market82
Property Features for 903 State Highway Z
General Information
Standard status
Active
Size
620 SF
Taxes and HOA fees
Annual Taxes
$108
Amenities
Overhead Door(s)
Electric
Building Details
Building Size
620 SF
Year Built
1920
Buildings
1
Stories
1
Listing Agency:
Listed By:
Christopher Hartlein
Source:
Evrealestate
Added: May 22
Changed: Aug 8
Last Checked: Jul 15 at 8:21PM
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 Christopher Hartlein
Investment Insights
Based on property information with market context.
This for-sale warehouse property is an industrial offering classified as a warehouse and other warehouse/commercial real estate asset. The listing information includes its established warehouse use category, positioned to support industrial and warehouse-related needs.
Located at 903 State Highway Z in Cape Girardeau, Missouri (Cape Girardeau County), the property’s address places it directly on a state highway corridor. That highway access can be useful for logistics and routine operations associated with warehouse and industrial use, depending on a buyer’s intended setup.
For buyers and investors, this is a straightforward warehouse-style asset to consider when evaluating small industrial holdings. Prospective users should review the property’s physical layout and condition during due diligence to confirm fit for their specific storage, warehousing, and operational requirements. The site’s classification as a warehouse/industrial property provides a clear starting point for underwriting and planning, with final suitability determined by on-site inspection and any applicable local requirements.
Located at 903 State Highway Z in Cape Girardeau, Missouri (Cape Girardeau County), the property’s address places it directly on a state highway corridor. That highway access can be useful for logistics and routine operations associated with warehouse and industrial use, depending on a buyer’s intended setup.
For buyers and investors, this is a straightforward warehouse-style asset to consider when evaluating small industrial holdings. Prospective users should review the property’s physical layout and condition during due diligence to confirm fit for their specific storage, warehousing, and operational requirements. The site’s classification as a warehouse/industrial property provides a clear starting point for underwriting and planning, with final suitability determined by on-site inspection and any applicable local requirements.
Key Highlights
- Warehouse and industrial property for sale in Cape Girardeau County, Missouri
- Year built: 1920
- Electric heating and electric cooling
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
$4,813
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
8.37%
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%
$96,260
$96.3K
Cap Rate 7%
$68,757
$68.8K
Cap Rate 9%
$53,478
$53.5K
Market Conditions
NOI Build-Up for 620 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
$6.2K $9.96/SF
− Vacancy
−$513 −$0.83/SF
EGI
$5.7K $9.13/SF
− OpEx
−$849 −$1.37/SF
NOI
$4.8K $7.76/SF
Area
Cape Girardeau County, MO
Vacancy
8.30%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$96,260
Cap Rate 7%
$68,757
Cap Rate 9%
$53,478
Alternative Uses
Best Use
Warehouse
$68.8K
$60.2K – $80.2K
NOI $4,813 @ 7.0% cap · market cap 8.37%
Second Best
Industrial
$57.7K
$50.5K – $67.4K
NOI $4,042 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$195.6K
$171.2K – $228.2K
NOI $13,692 @ 7.0% cap · market cap 23.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 63701, MO
39,246
Population
17,834
Households
2.2
Avg Household Size
35
Median Age
39%
College-Educated
94%
High-School Grad
132.7 sq mi
ZIP Area
296
Density / Sq Mi
$67,904
Median Household Income
$32,655
Median Earnings
$863
Median Rent
$209,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse and industrial property offered for sale in Cape Girardeau County, Missouri.
Where is this warehouse located?
The property is located at 903 State Highway Z Cape Girardeau, MO.
What is the asking price?
The asking price for this property is $57,500.
What are key features of this property?
This property features: Warehouse and industrial property for sale in Cape Girardeau County, Missouri; Year built: 1920; Electric heating and electric cooling
