515 Nebraska Avenue, West Plains, MO 65775

$799,900
Property Type: Commercial-All Types Baths: 9 Square Footage: 4,800 Lot Size (sq. ft.): 21,780 Status: Active
Current Price: $799,900 List Date: 3/11/2025 Last Modified: 12/02/2025

Description

For Sale - Income-Producing Multi-Unit Property in West Plains, MO! Prime Investment Opportunity in Howell County Discover a brand-new multi-family investment property at 515 Nebraska Street, West Plains, MO! This former church has been fully converted into eight modern apartments, offering high-quality finishes, excellent location, and strong income potential. Property Features (Largest to Smallest Units): • One (1) unit - 850 sq. ft. | 2 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck • Five (5) units - 600 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck • One (1) unit - 450 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck • Spacious parking lot and outdoor green space • Situated on a .48-acre lot in a quiet neighborhood • Prime Location - High Rental Demand! Property Highlights: • Fully remodeled 7-unit apartment complex - turnkey and like new • Strong income producer with an estimated 9.5% cap rate • Units include one 2-bed unit ($1,200/month), four 1-bed units ($1,000/month), and one small unit ($900/month) • Seventh unit is an active Airbnb generating approximately $21,900/year at $100/night • Gross annual rental income: approximately $95,800 • Net Operating Income (NOI): approximately $76,000 • All units include appliances • Owner pays utilities and property taxes • Includes Airbnb management potential or option to convert to long-term rental • Excellent investment opportunity with low maintenance and high-demand rental units • Priced at $799,900 - potential for upside depending on rental mix Located in West Plains, Missouri, this property is just minutes from: Missouri State University - West Plains Downtown West Plains Ozarks Healthcare Restaurants, shopping, and essential amenities Turnkey Investment - Strong ROI Potential New Construction - Modern Features

Supplements: Fully Income-Producing or Investment Opportunity Annual Property Tax: $2,000 Annual Insurance: $2,000 Each unit has separate electric, water, and internet connections This multi-family property for sale in Howell County, Missouri, is an excellent addition to any real estate portfolio. Whether you're looking for a turnkey rental investment or an income-generating property, this one checks all the boxes!

More Information MLS# 60288890

Contract Information

Construction Status: Existing Transaction Type: Sale List Price/SqFt: 166.65 Foreclosure/Short Sale: No Property Sub-Type: Other Begin Date: 2025-03-11 List Price: $799,900 Agreement Type: Exclusive Right To Sell Sign on Property: 1

Location, Tax and Other Information

Inside City Limits: Yes

General Property Description

SqFt - Vacant: 4800 SqFt - Office Space: 0 SqFt - Retail Space: 0 Waterfront/View: None Lake/River: None Baths - Total: 9 Total SqFt: 4800 Aprx Year Built: 1972 Number of Units: 8 Aprx Lot Size (Acres): 0.5 Lot Dimensions: Acres

View

City: 1

Business Type

Apartments: 1 Other-See Remarks: 1

Cooling

Central: 1 Electric: 1

Curb Cuts Available

Two: 1

Heating

Electric: 1

Land Status

Land Included: 1

Miscellaneous

Basement: 1 Handicap Accessible: 1 Smoke Detectors: 1 Water Heater-Electric: 1

Parking

20+ Spaces: 1 Paved: 1

Roof

Composition: 1

Utilities Available

Electric: 1 High Speed Internet Access: 1 Public Sewer: 1 Public Water: 1

Lot Description

Level: 1

Docs on File

Aerial Photo: 1 Legal: 1

Location Tax and Other Information

Street #: 515 Street Name/Route: Nebraska Suffix: Avenue County: Howell State/Province: MO Zip Code: 65775 Subdivision: Howell-Not in List Parcel ID: 15402000040100201000 Tax Year: 2022 Zoning: Multi-family Section: 20 Township: 24

Remarks Misc

Directions: South on Business 63 - Left on 2nd to Corner of 2nd and Nebraska

Status Change Info

Status: Active

Property Features

Business Type: Apartments; Other-See Remarks Cooling: Central; Electric Curb Cuts Available: Two Heating: Electric Land Status: Land Included Miscellaneous: Basement; Handicap Accessible; Smoke Detectors; Water Heater-Electric Parking: 20+ Spaces; Paved Roof: Composition Utilities Available: Electric; High Speed Internet Access; Public Sewer; Public Water Lot Description: Level Docs on File: Aerial Photo; Legal

Documents

Listing Office: United Country Missouri Ozarks Realty Inc.
IDX
Last Updated: December - 02 - 2025
Data relating to real estate for sale on this web page comes in part from the Internet Data Exchange (IDX) of the Southern Missouri Regional MLS, LLC, Inc. Real estate listings held by Brokerage firms other than the website owner are marked with the IDX logo and detailed information about them includes the name of the listing Brokers. The information being provided is not guaranteed and should be verified by the consumer and is for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers wish to purchase. Any representation that a web site contains all listings shall only mean that the web site contain all listing available to the public through the IDX data feed and other available properties may not be displayed on this site. © 2023 Southern Missouri Regional MLS, LLC All rights reserved.

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