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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    121 Us Highway 40 Odessa, MO 64076

    • Commercial real estate
    For Sale
    View listing
    $450,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-2136343
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 121 Us Highway 40

    Year built
    1934
    Property type
    Commercial real estate

    Description

    This unique 1934-built, two-story log cabin presents a remarkable investment opportunity in Odessa, Missouri. Located conveniently off I-70 on Highway 40, this approximately 0.41-acre property offers exceptional versatility. Currently zoned residential, but with potential for rezoning, the building boasts a multitude of possible uses. Imagine establishing a thriving retail business, creating a unique Airbnb experience, opening a restaurant, hosting events, or even developing an escape room. The possibilities are truly endless. The property features four bathrooms, a commercial freezer, a convenient back entrance, and ample parking with a large front porch. The asking price is $450,000. Its prime location and adaptable nature make this a rare find for entrepreneurs and investors seeking a distinctive property with significant upside potential. The building's character and the expansive possibilities make this a truly exceptional opportunity in the heart of Odessa. Don't miss the chance to own this piece of Missouri history and shape its future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Lafayette
    State
    Missouri
    Longitude
    -93.9527898
    Latitude
    39.0067858

    Comparable in this City

    • $1,100,000
      31,060 SF

      Odessa Mixed-Use Investment Opportunity

      31,060 SF Vacant Building, High Potential
      1340 Old Highway 40, Odessa, MO 64076
      View Details
    • $395,000

      Prime Odessa Retail Opportunity

      Versatile Log Cabin, I-70 Access
      121 Us Highway 40, Odessa, MO 64076
      View Details
    • $1,900,000
      47,740 SF

      Odessa Multi-Use Building Investment

      High-yield multi-unit property, prime location.
      1276 Old Highway 40, Odessa, MO 64076
      View Details
    • $1,300,000
      0.15 Acres

      Retail Building with National Tenant

      Building with long-term national tenant in downtown business district.
      101 S 2Nd St, Odessa, MO 64076
      View Details
    • $1,480,000
      37,000 SF

      Odessa Commercial Building - $1.48M

      37,000 SF Vacant Building, Multiple Uses
      1212 Us Highway 40, Odessa, MO 64076
      View Details
    • $900,000
      23,000 SF

      Odessa Commercial Building - $900K

      23,000 SF Mixed-Use Property, Vacant
      1232 Old, Lake Lafayette, MO 64076
      View Details

    Similar Nearby for Sale

    • $1,100,000
      31,060 SF

      Odessa Mixed-Use Investment Opportunity

      31,060 SF Vacant Building, High Potential
      1340 Old Highway 40, Odessa, MO 64076
      View Details
    • $395,000

      Prime Odessa Retail Opportunity

      Versatile Log Cabin, I-70 Access
      121 Us Highway 40, Odessa, MO 64076
      View Details
    • $900,000
      23,000 SF

      Odessa Commercial Building - $900K

      23,000 SF Mixed-Use Property, Vacant
      1232 Old, Lake Lafayette, MO 64076
      View Details
    • $1,480,000
      37,000 SF

      Odessa Commercial Building - $1.48M

      37,000 SF Vacant Building, Multiple Uses
      1212 Us Highway 40, Odessa, MO 64076
      View Details
    • $1,900,000
      47,740 SF

      Odessa Multi-Use Building Investment

      High-yield multi-unit property, prime location.
      1276 Old Highway 40, Odessa, MO 64076
      View Details
    • $1,300,000
      0.15 Acres

      Retail Building with National Tenant

      Building with long-term national tenant in downtown business district.
      101 S 2Nd St, Odessa, MO 64076
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      11,000 SF

      Odessa Medical Clinic Opportunity

      Prime Medical Office Space Available
      316 Old 40 Hwy, Odessa, MO 64076
      View Details
    • $1,250,000
      5,500 SF

      Two-Story Brick Building For Rent

      Two-story, 11,000 SF building with spaces available for rent.
      316 W Us Highway 40, Odessa, MO 64076
      View Details
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    121 Us Highway 40
    Odessa, MO 64076
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    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
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