429 Walnut StNevada, MO 64772

Property Details for 429 Walnut St

Year built

1973

Lot size

0.59 AC

Property size (Sq ft)

5,150 SF

Property type

Office buildings

APN

18-2.0-04-403-000-024.000

APU

182004403000024000

Description

This exceptional investment opportunity presents a 1-story, 5,000 sq ft brick office building situated on a 26,136 sq ft lot at 429 E Walnut Street, Nevada, MO 64772. Constructed in 1973 with superior building techniques, this property boasts multiple HVAC systems, ample electrical capacity, common area bathrooms, and a reception area. The building's layout allows for potential subdivision into three separate units, each with independent metering. Currently, a month-to-month tenant occupies approximately 1,000 sq ft and desires to remain. The interior requires renovation, presenting a chance for value enhancement. This probate sale requires judicial approval, with a minimum 10-day contract review period. The asking price of $145,000 represents a significant value proposition, considering the cost of comparable new construction. This property offers a compelling opportunity for long-term ownership or a potential flip for savvy investors. Bring all offers! The property was previously occupied by the Department of Transportation.

• CAP approach

  CAP return

  Valuation

  6%

  $1,009,200

  6.5%

  $931,570

  7%

  $865,029

• Comparable approach

  Method

  Valuation

  Relative Method

  $368,380

  Geo Method

  $368,380

• Alternative Use

  Use

  Valuation

  Residential

  $1,155,146

  Hospitality

  $1,058,108

  Educational

  $880,333

  Medical

  $910,609

  Retail

  $1,369,407

Location Insight

City

Nevada

County

Vernon

State

Missouri

Latitude

37.8394

Longitude

-94.3519

Property Tax & Assessments

FAQs

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