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

    2070 Sprigg St Cape Girardeau, MO 63701

    • Dormitories
    • 248,038 SF
    • 15.43 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-1462792
    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

    • Legends Cape Girardeau / Furnished Apartment Building / Student Housing Center
    • 1995club / Mailing Service

    Property Details for 2070 Sprigg St

    Year built
    2018
    Lot size
    15.43 lot acres
    Property size
    248,038 SF
    Property type
    Dormitories
    Property subtype
    Student housing
    APN
    16-707-00-01-002.00-0000

    Description

    This exceptional 281-unit student housing complex, totaling 248,038 square feet, presents a compelling investment opportunity. Built in 2018, the property boasts seven four-story buildings situated on a 15.43-acre lot in Cape Girardeau, Missouri (APN: 16-707-00-01-002.00-0000). Located just one mile from Southeast Missouri State University (SEMO), this stabilized asset enjoys a 95% occupancy rate as of November 15, 2024, and benefits from a desirable unit mix of one, two, and four-bedroom apartments, all with bed-bath parity. SEMO, with its 9,500 students, provides a consistent demand pool within a thriving community of over 80,000 residents in Cape Girardeau County. The property's strategic location and strong performance make it a rare and highly sought-after asset in a market with limited comparable student housing options, virtually eliminating supply risk. The fall 2024 freshman class saw the largest year-over-year increase since 2015, further solidifying the property's long-term potential. This is a best-in-class, stabilized investment in a dynamic and growing market.

    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
    Cape Girardeau
    County
    Cape Girardeau
    State
    Missouri
    Longitude
    -89.520845
    Latitude
    37.336197

    Comparable in this City

    • $3,250,000

      Cape Girardeau Investment Portfolio

      33-unit turnkey investment portfolio in Cape Girardeau, Missouri.
      26 N Pacific St, Cape Girardeau, MO 63701
      View Details
    • $249,900
      2,016 SF

      Cape Girardeau Duplex on Corner Lot

      All-brick duplex with basements and new windows near downtown.
      3-5 N Henderson Ave, Cape Girardeau, MO 63701
      View Details
    • New
      $749,900
      5,611 SF

      All Brick Ranch Duplex

      Duplex in Baldwin Place Subdivision with walkout basement and fenced yard.
      119-121 Summerfield Way, Cape Girardeau, MO 63701
      View Details
    • $599,900
      Pending

      Cape Girardeau Investment Opportunity

      Apartment complex near SEMO with nine units and expansion potential.
      239 N Middle St, Cape Girardeau, MO 63701
      View Details
    • $80,000
      Pending

      Cape Girardeau Land For Sale

      Land available in Cape Girardeau, Missouri for multifamily development.
      421 Marie St, Cape Girardeau, MO 63701
      View Details
    • $173,000
      Pending

      Turnkey Cape Girardeau Income Property

      Three-unit residential property with immediate cash flow in Cape Girardeau.
      1226 Harmony St, Cape Girardeau, MO 63701
      View Details

    Similar Nearby for Sale

    • $3,250,000

      Cape Girardeau Investment Portfolio

      33-unit turnkey investment portfolio in Cape Girardeau, Missouri.
      26 N Pacific St, Cape Girardeau, MO 63701
      View Details
    • New
      $749,900
      5,611 SF

      All Brick Ranch Duplex

      Duplex in Baldwin Place Subdivision with walkout basement and fenced yard.
      119-121 Summerfield Way, Cape Girardeau, MO 63701
      View Details
    • $599,900
      Pending

      Cape Girardeau Investment Opportunity

      Apartment complex near SEMO with nine units and expansion potential.
      239 N Middle St, Cape Girardeau, MO 63701
      View Details
    • $80,000
      Pending

      Cape Girardeau Land For Sale

      Land available in Cape Girardeau, Missouri for multifamily development.
      421 Marie St, Cape Girardeau, MO 63701
      View Details
    • $173,000
      Pending

      Turnkey Cape Girardeau Income Property

      Three-unit residential property with immediate cash flow in Cape Girardeau.
      1226 Harmony St, Cape Girardeau, MO 63701
      View Details
    • $334,900
      2,276 SF

      Cape Girardeau Duplex For Sale

      Well-maintained duplex in a serene, wooded area near Cape Girardeau.
      164/168 Waller Ln, Cape Girardeau, MO 63701
      View Details

    Similar Nearby for Lease

    • 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
    • $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
    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.
    2070 Sprigg St
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.