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    Property profile & analytics

    1355 Us Highway 60 Republic, MO 65738

    • Drive through restaurants
    • 27,404 SF
    • 0.63 lot acres
    For Lease
    View listing
    $0.74 SF/Yr
    Last Sale
    Feb 24, 2021
    Value Estimations
    $530,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-0631358
    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

    • Drive through restaurants

    Property Details for 1355 Us Highway 60

    Year built
    1987
    Lot size
    0.63 lot acres
    Property size
    27,404 SF
    Property type
    Drive through restaurants
    APN
    88-17-16-300-163
    APU
    881716300163

    Description

    This exceptional 2.5-acre commercial land parcel in Republic, Missouri, presents a prime opportunity for retail development. Located at 1355 US Hwy 60, this single-tenant site boasts unparalleled visibility and high traffic volume due to its strategic location on a major thoroughfare. The property sits adjacent to Lowe's Home Improvement and directly across from a Walmart Supercenter, ensuring consistent customer flow. Furthermore, its proximity to the future Andy's Frozen Custard location adds to its already strong appeal. The site features a hard corner, fully signalized intersection, maximizing exposure. This C2-zoned property offers 108,900 square feet of potential development space. The lease structure is NNN, meaning the tenant is responsible for a pro-rata share of real estate taxes, building insurance, and property maintenance. Build-to-suit options are available, allowing for customized development to meet specific tenant needs. Lease terms are negotiable and will be determined through mutual agreement between landlord and tenant. This is an exceptional opportunity to establish a thriving business in a high-growth area. The zip code is 65738.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $530,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Republic
    County
    Greene
    State
    Missouri
    Longitude
    -93.4586
    Latitude
    37.1319
    CBSA code
    44180
    CBSA name
    SPRINGFIELD, MO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $12,780
    $64,700
    $131,330
    $196,030
    -
    $202,200
    $410,400
    $612,600

    Comparable in this City

    • Value Estimation
      $365,000
      1.06 Acres

      1397 Us Hwy 60th E

      DRIVE-THRU RESTAURANT, FAST FOOD • 1.06 Acres
      1397 Us Hwy 60th E, Republic, MO 65738-1369
      View Details
    • Value Estimation
      $390,000
      1.44 Acres

      1472 Us Hwy 60th E

      DRIVE-THRU RESTAURANT, FAST FOOD • 1.44 Acres
      1472 Us Hwy 60th E, Republic, MO 65738
      View Details
    • Value Estimation
      $275,000
      2,052 SF

      147 Us Hwy 60th E

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,052 SF
      147 Us Hwy 60th E, Republic, MO 65738-1904
      View Details
    • Value Estimation
      $360,000
      3,208 SF

      1329 Us Hwy 60th E

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,208 SF
      1329 Us Hwy 60th E, Republic, MO 65738-1369
      View Details
    • Value Estimation
      $275,000
      2,575 SF

      806 Us Hwy 60th E

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,575 SF
      806 Us Hwy 60th E, Republic, MO 65738-1525
      View Details
    • Value Estimation
      $290,000
      4,286 SF

      808 Illinois Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,286 SF
      808 Illinois Ave, Republic, MO 65738-1177
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      35,682 SF

      Republic Retail/Office Center For Sale

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      201 W Hwy U.S, Republic, MO 65738
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    • $489,000
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      Republic Retail Center - Highway 60

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    • $425,000
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      Republic Commercial Land - Highway 60

      Prime C-2 zoned lot, high traffic, ready to build.
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    • $2,900,000
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      Prime Republic, MO Commercial Land

      5.4-acre commercial lot near Amazon.
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      Renovated Office Building For Sale

      Recently renovated office building in downtown Republic, Missouri.
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    • $699,000
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      7,988 SF building with classrooms and multiple restrooms.
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    Similar Nearby for Lease

    • $16 SF/Yr
      1,521 SF

      Corner Retail Space Available

      Retail space adjacent to Amazon Fulfillment Center for lease.
      MM 2510-2544 S State Hwy, Republic, MO 65738
      View Details
    • $16 SF/Yr
      2,500 SF

      Retail Space on US-60

      Retail space available in Republic, Missouri with US-60 frontage.
      315 Us Highway 60 E, Republic, MO 65738
      View Details
    • $16 SF/Yr
      43,500 SF

      Republic Town Center Plaza

      Retail Center, Prime Location
      542 Harrison St, Republic, MO 65738
      View Details
    • $18 SF/Yr
      24,000 SF

      Prime Retail Space in Republic

      Retail spaces available in a high-growth Republic, MO location.
      2510-2544 S State Highway Mm, Republic, MO 65738
      View Details
    • $16 SF/Yr
      1,500 SF

      Retail Space with Ample Parking

      Retail space featuring a signalized corner and pylon sign.
      562-566 E Harrison St, Republic, MO 65738
      View Details
    • $20 SF/Yr
      1,394 SF

      Republic Office Space For Rent

      Office spaces available, ranging from 127 to 1,606 SF.
      201-267 W Us Highway 60, Republic, MO 65738
      View Details
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    1355 Us Highway 60
    Republic, MO 65738
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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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