Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Old Sprigg & Lexington Cape Girardeau, MO 63701

    • Land
    • 175.00 lot acres
    For Sale
    View listing
    $2,900,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Old Sprigg & Lexington

    Lot size
    175.00 lot acres
    Property type
    Land

    Description

    This exceptional 175-acre commercial land parcel presents a unique investment opportunity in Cape Girardeau, Missouri. Strategically located at the intersection of Old Sprigg and Lexington, this property offers significant development potential. The land is comprised of 113 acres within city limits and an additional 62 acres adjacent to the city in Cape Girardeau County, providing access to all city services. Its substantial street frontage ensures high visibility and accessibility. The property's versatility makes it suitable for a wide range of commercial uses. Proximity to Southeast Missouri State University (SEMO) adds further appeal, offering potential for student-oriented businesses or housing developments. With its expansive size and prime location, this property is ideal for developers seeking a large-scale project with excellent infrastructure and convenient access. The asking price for this significant land holding is $2,900,000. This represents a compelling opportunity to acquire a substantial tract of land in a thriving Missouri community. Don't miss this chance to secure a piece of Cape Girardeau's future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cape Girardeau
    County
    Cape Girardeau
    State
    Missouri
    Longitude
    -89.5327
    Latitude
    37.3373

    Comparable in this City

    • Value Estimation by Request
      112.40 Acres

      651 Co Rd

      Farms • 112.40 Acres
      651 Co Rd, Cape Girardeau, MO 63701
      View Details
    • Value Estimation by Request
      1.07 Acres

      Siemers Dr

      Land • 1.07 Acres
      0 Siemers Dr, Cape Girardeau, MO 63701
      View Details
    • Value Estimation by Request
      43,963 SF

      720 Bertling St

      Manufacturing properties • 43,963 SF
      720 Bertling St, Cape Girardeau, MO 63701
      View Details
    • Value Estimation by Request
      4.17 Acres

      Silver Springs Rd

      Land • 4.17 Acres
      0 Silver Springs Rd, Cape Girardeau, MO 63701
      View Details
    • Value Estimation by Request

      74th State Hwy V V

      COMMERCIAL MISC
      74th State Hwy V V, Cape Girardeau, MO 63701
      View Details
    • Value Estimation by Request

      5370 State Hwy 74

      COMMERCIAL MISC
      5370 State Hwy 74, Cape Girardeau, MO 63701
      View Details

    Similar Nearby for Sale

    • $2,900,000
      175.00 Acres

      Prime Cape Girardeau Commercial Land

      175 Acres, City Services, Development Ready
      0 Old Sprigg & Lexington, Cape Girardeau, MO 63701
      View Details
    • $1,200,000

      Downtown Cape Girardeau Riverfront Lot

      Prime Commercial Riverfront Property, $1.2M
      220 Main St, Cape Girardeau, MO 63701
      View Details
    • $3,100,000
      43,963 SF

      Prime Cape Girardeau Industrial Property

      43,963 SF Manufacturing/Commercial Space
      720 Bertling St, Cape Girardeau, MO 63701
      View Details
    • $75,000
      0.89 Acres

      Residential Land in Golf Club

      Homesite within a top-ranked private golf club community.
      6041 Cardrona Dr, Cape Girardeau, MO 63701
      View Details
    • $75,000
      0.63 Acres

      Residential Land in Golf Club

      Homesite within top-ranked Missouri private golf club community.
      5865 Langholm Dr, Cape Girardeau, MO 63701
      View Details
    • $95,000
      1.07 Acres

      Residential Land in Golf Club

      Homesite in Dalhousie Golf Club, Cape Girardeau, Missouri.
      5948 Langholm Dr, Cape Girardeau, MO 63701
      View Details

    Similar Nearby for Lease

    • $650 /Mo
      200 SF

      Land For Rent, High Traffic

      Commercial land for rent in high-traffic Cape Girardeau location.
      101 N Kings Highway St, Cape Girardeau, MO 63701
      View Details
    • Contact for pricing
      46,692 SF

      Lambert Plaza Retail Space

      Cape Girardeau, MO Retail Opportunity
      155 Siemers Dr, Cape Girardeau, MO 63701
      View Details
    • $36 SF/Yr
      8,200 SF

      HubCo Coworking Office Space

      Modern Cape Girardeau Office Suites
      1427 Thomas Dr, Cape Girardeau, MO 63701
      View Details
    • $2,500 /Mo
      2,937 SF

      Renovated Commercial Space For Lease

      Renovated commercial space with high visibility in a prime location.
      230 N Sprigg St, Cape Girardeau, MO 63701
      View Details
    • Contact for pricing
      10,800 SF

      Retail Space Near Interstate 55

      Retail space in regional shopping hub with interstate access.
      258 Siemers Dr, Cape Girardeau, MO 63701
      View Details
    • $5,641 /Mo
      6,770 SF

      Office Suite in Cape Girardeau

      Office suite with high visibility and traffic in Cape Girardeau.
      450 Siemers Dr, Cape Girardeau, MO 63701
      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.
    Old Sprigg & Lexington
    Cape Girardeau, MO 63701
    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

    Google sign-in failed. Please try again or use another login method.