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453-463 S Thompson Ave 8,129 SF 100% Leased Retail Building Excelsior Springs, MO 64024 $465,000 ($57.20/SF) 7.21% Cap Rate
Investment Highlights
- Prime Downtown Location Situated in the heart of Excelsior Springs’ historic district — walkable to the Elms Hotel & Spa
- Income-Producing Investment Currently generating approximately $4,900/month in rental income with additional upside potential.
- Subdivision Potential Currently under review for individual parcel separation — ideal for condo-style resales or 1031 exit strategy.
- 5 Leased Commercial Units + 1 Vacant Opportunity Cash-flowing with 5 fully leased units and a potential 6th unit ready for value-add or owner-user
- 6.75%+ Current Cap Rate Strong return with potential to exceed 7.5% when fully stabilized and all units are leased.
- Surging Downtown Revitalization Part of Excelsior Springs’ economic development zone with continued investment in tourism & small business's
Executive Summary
Incredible Investment Opportunity in Historic Downtown Excelsior Springs! Situated just steps from the iconic Elms Hotel & Spa and surrounded by walkable retail, dining, and brewery destinations, this multi-unit commercial property offers unmatched location, visibility, and income potential. The property includes five fully leased units totaling 8,129 SF (with potential for a sixth), all situated on 0.37 acres and zoned C-2 (General Commercial). Tenants operate on month-to-month leases with flexibility to convert to one-year terms if needed for lending purposes. Unit 461 is newly leased (May 2025) at $900/month and also generates $200/month additional income from container storage leased by neighboring Dubious Claims Brewery. Currently generating $4,900/month ($58,800/year), with a GRM of 9.43, the property sits under a single parcel ID with strong potential for future subdivision per unit. Utility Disclosure: Tenants are responsible for their own utilities with separate meters for most units, with the exception of Units 459 and 461, which share a water meter—averaging $64/month, paid by the landlord and included in rent. Insurance premium is $2,857/year and a tax abatement through 2030 is pending final correction with the county (projected under $1,000/year). Investors and commercial buyers alike will appreciate the flexibility, visibility, and growth trajectory of Excelsior Springs’ thriving downtown district.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
8,129 SF
Building Class
B
Year Built
1930
Price
$465,000
Price Per SF
$57.20
Cap Rate
7.21%
NOI
$33,512
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.50
Lot Size
0.37 AC
Opportunity Zone
Yes
Zoning
C-2 - Commercial/General Business District.
Frontage
107’ on S Thompson Ave
Property Taxes
| Parcel Number | 12-311-00-46-011.01 | Total Assessment | $32,160 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
12-311-00-46-011.01
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$32,160 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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453-463 S Thompson Ave
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