304 Locust StHillsboro, MO 63050

Property Details for 304 Locust St

Year built

1999

Lot size

0.25 AC

Zone code

CT1

Property type

Office properties

APN

17-2.0-03.0-1-003-005.

APU

17200301003005

Description

This exceptional commercial investment property, located at 304 Locust Street in Hillsboro, Missouri, presents a compelling opportunity for savvy investors. The property sits on a 0.25-acre lot and encompasses approximately 7440 square feet, currently fully leased to three distinct tenants. The building boasts a diverse tenant mix, including a probation agency, a church, and a gym, ensuring a stable and diversified income stream. The probation agency occupies the top level, featuring multiple private offices, a waiting area, a conference/training room, three half-bathrooms, a break room, and storage space. The church is located on the middle lower level and includes a large meeting room, waiting area, several offices, a break room, and two half-bathrooms. The gym, situated in the corner lower level unit, offers two large open areas and one half-bathroom. Recent significant upgrades enhance the property's value and appeal, including new windows, a new HVAC unit, a roof less than five years old, and fresh exterior paint. The building enjoys a convenient Hillsboro location with ample street parking and proximity to local restaurants. All tenants are under current leases, providing immediate cash flow. Note that the square footage is approximate

• CAP approach

  CAP return

  Valuation

  6%

  $2,489,222

  6.5%

  $2,297,744

  7%

  $2,133,619

• Comparable approach

  Method

  Valuation

  Relative Method

  $848,984

  Geo Method

  $848,984

• Alternative Use

  Use

  Valuation

  Residential

  $2,849,202

  Hospitality

  $2,609,854

  Educational

  $2,171,368

  Medical

  $2,246,045

  Retail

  $3,377,684

Location Insight

City

Hillsboro

County

Jefferson

State

Missouri

Latitude

38.2326

Longitude

-90.5633

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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