Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2 State Rte Hwy Freeman, MO 64742
    Back to Search
    Property profile & analytics

    2 State Rte Hwy, Freeman, MO 64742

    View on Map
    • Land
    • 7.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 2 State Rte Hwy

    Lot size
    7.50 lot acres
    Property type
    Land
    Property subtype
    Farms

    Description

    This 7.5-acre property, located at Lot 2 State Route W Highway in Drexel, Missouri (zip code 64742), presents a unique opportunity for residential or agricultural use. Situated in Cass County, this land boasts a picturesque, gently rolling terrain, offering a tranquil setting. The asking price is $120,000. The property's convenient location provides easy access to hard-surface roads, making commuting to Kansas City or Overland Park straightforward. The land is classified as both residential and agricultural, providing flexibility for potential buyers. With its combination of peaceful surroundings and convenient access to urban areas, this parcel is ideal for those seeking a blend of rural tranquility and urban accessibility. The property's latitude and longitude coordinates are 38.5619171 and -94.4738251 respectively. This is a prime opportunity to build a home or pursue agricultural endeavors in a desirable Missouri location. The property is zoned for residential and agricultural use. Utilities are not specified. Buyers are responsible for conducting their own due diligence regarding zoning, utilities, and other relevant factors.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Freeman
    County
    Cass
    State
    Missouri
    Longitude
    -94.4738
    Latitude
    38.5619

    Comparable in this City

    • Value Estimation by Request
      30.00 Acres

      12501A County Road 14002

      Farms
      12501A County Road 14002, Drexel, MO 64742
      View Details
    • Value Estimation by Request
      30.00 Acres

      12501A County Road 14002

      Farms
      12501A County Road 14002, Drexel, MO 64742
      View Details
    • Value Estimation by Request
      8.80 Acres

      5 State Rte Hwy

      Farms
      5 State Rte Hwy, Freeman, MO 64742
      View Details
    • Value Estimation by Request
      8.81 Acres

      6 State Rte Hwy

      Farms
      6 State Rte Hwy, Freeman, MO 64742
      View Details
    • Value Estimation by Request
      10.00 Acres

      33704 State Rte D Hwy

      Farms
      33704 State Rte D Hwy, Drexel, MO 64742
      View Details
    • Value Estimation by Request
      59.90 Acres

      000 1St St

      Farms
      000 1St St, Drexel, MO 64742
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Wooded Corner Property for Sale

      4-acre wooded corner property with road frontage.
      E 315Th St, Drexel, MO 64742
      View Details
    • $116,250
      7.50 Acres

      7.5 Acre Tract Near Freeman

      7.5 acre tract near Freeman with Drexel address.
      State Rte Hwy W, Drexel, MO 64742
      View Details
    • $116,250
      7.50 Acres

      7.5 Acre Tract Near Freeman

      7.5 acre tract near Freeman, build your dream home!
      State Rte Hwy W, Drexel, MO 64742
      View Details
    • $359,000
      20.00 Acres

      20 Acres Cass County Land

      20-acre property in a gated community with utilities and diverse terrain.
      10500 E 329Th St, Drexel, MO 64742
      View Details
    • $38,500
      0.12 Acres

      Corner Lot for New Business

      Corner gravel lot suitable for various commercial purposes.
      101 E Main St, Drexel, MO 64742
      View Details
    • $240,000
      2,000 SF

      Commercial Property in Growing Community

      Commercial property with steel shop in a growing community.
      101 W Main St, Drexel, MO 64742
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2 State Rte Hwy
    Freeman, MO 64742
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2 State Rte Hwy, Freeman, MO, 64742
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!