Multi-Building Mixed-Use
For Sale
$425,000
9637 Old State Route 21, Hillsboro, MO 63050
Four-building commercial property with public water, separate electric meters, and existing hospitality improvements.
Property Size6,090 SF
Lot Size6.00 Acres
Days on Market194
Property Features for 9637 Old State Route 21
General Information
Standard status
Active
Size
6,090 SF
Lot size
6.00 Acres
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,302
Building Details
Building Size
6,090 SF
Year Built
1974
Buildings
4
Stories
1
Listing Agency:
Berkshire Hathaway HomeServices Select Properties
(314) 250-5050
Listed By:
Rodney Wallner · License #2009035711
(314) 250-5050
Source:
Century21laclede
Added: Feb 16
Changed: Aug 29
Last Checked: Aug 29 at 6:25PM
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 Berkshire Hathaway HomeServices Select Properties
Investment Insights
Based on property information with market context.
This mixed-use property at 9637 Old State Route 21 in Hillsboro, MO, includes four buildings across 6 acres with highway frontage. The improvements include a former restaurant, four hotel rooms, a three-bedroom residence, and an outbuilding. Existing equipment remains in place, and upgrades were completed in 2018.
The property is connected to public water and uses separate electric meters, supporting distinct building functions or multiple business operations. Constructed in 1974, the site retains a combination of commercial, lodging, residential, and accessory improvements within one property.
The property is connected to public water and uses separate electric meters, supporting distinct building functions or multiple business operations. Constructed in 1974, the site retains a combination of commercial, lodging, residential, and accessory improvements within one property.
Key Highlights
- 6‑acre mixed‑use property with highway frontage
- Four buildings, including a former restaurant and outbuilding
- Four hotel rooms and a three‑bedroom residence
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
$27,770
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
6.53%
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%
$555,400
$555.4K
Cap Rate 7%
$396,714
$396.7K
Cap Rate 9%
$308,556
$308.6K
Market Conditions
NOI Build-Up for 6,090 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
$73.1K $12.00/SF
− Vacancy
−$14.6K −$2.40/SF
EGI
$58.5K $9.60/SF
− OpEx
−$30.7K −$5.04/SF
NOI
$27.8K $4.56/SF
Area
Jefferson County, MO
Vacancy
20.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
52.50%
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%
$555,400
Cap Rate 7%
$396,714
Cap Rate 9%
$308,556
Alternative Uses
Best Use
Specialty Retail
$18.09M
$15.83M – $21.10M
NOI $1,266,069 @ 7.0% cap · market cap 297.90%
Second Best
Mixed Use
$11.31M
$9.90M – $13.19M
NOI $791,612 @ 7.0% cap · market cap 186.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 63050, MO
16,874
Population
7,089
Households
2.4
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
91.9 sq mi
ZIP Area
184
Density / Sq Mi
$79,462
Median Household Income
$44,805
Median Earnings
$1,000
Median Rent
$255,500
Median Home Value
Market
Vacancy Rate% for Retail 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?
Mixed-use property - Four-building commercial property with public water, separate electric meters, and existing hospitality improvements.
Where is this mixed-use property located?
The property is located at 9637 Old State Route 21 Hillsboro, MO.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 6‑acre mixed‑use property with highway frontage; Four buildings, including a former restaurant and outbuilding; Four hotel rooms and a three‑bedroom residence
