Property profile

227 Main St Festus, MO 63028

OFF-MARKET
Retail properties & Spaces
Property ID
US48-1228250
28,000 SF Built 1924
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Property summary

AI-generated overview

This exceptional 28,000 square foot office building, located at 227 East Main Street in historic Festus, Missouri, presents a unique owner-user opportunity. Built in 1924 and recently renovated, this three-story building boasts a prime location directly across from Main & Mill Streets, surrounded by thriving restaurants, salons, and retail stores. The ground floor, accessible from Main Street, offers approximately 8,000 square feet of space with 9-foot ceilings, a preserved period storefront and ceilings, and a fully sprinklered system. Currently configured as office space, it offers significant potential for conversion to other uses. The second and third floors each provide approximately 10,000 square feet, with the second floor enjoying 11-foot ceilings and ground-level access from Mill Street. These upper floors currently house offices, large meeting rooms, and a cafeteria with a commercial kitchen. An existing freight elevator shaft offers the possibility of installing a modern elevator system. The property also includes a private parking lot with capacity for over 75 vehicles. The building sits on a 13,504 square foot lot and is zoned CT1. This is a rare chance to acquire a substantial, versatile property in a vibrant downtown location. The asking price is $799,900. Occupancy is anticipated by March 31, 2025.

Property profile

Verified
Property type Retail properties & Spaces
Year built 1924
Total area 28,000 SF
UPID US48-1228250

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Business Administration Service Community Health Centre
  • Foster Care Service Social Service Agency
  • Foster Care Service Social Service Agency
  • Foster Care Service Social Service Agency

Location

227 Main St Festus, MO 63028
Festus metro
Google Maps

Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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