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Midtown Apartments 109-111 Commercial St 75 Unit Apartment Building $10,051,690 CAD ($134,023 CAD/Unit) 6.82% Cap Rate Warrensburg, MO 64093
INVESTMENT HIGHLIGHTS
- Prime downtown Warrensburg location within walking distance to local bars, restaurants, and the University of Central Missouri.
- Tenant-friendly amenities including internet and trash service included, supporting strong occupancy and retention.
- 75-unit, well-maintained apartment community featuring clean, spacious units with consistent rental demand.
EXECUTIVE SUMMARY
Midtown Apartments is a 75-unit, all-brick apartment community with steel-frame construction, meticulously maintained and positioned in a prime downtown Warrensburg location within walking distance to bars, restaurants, and University of Central Missouri. The property is turnkey with experienced on-site management in place, providing a seamless transition for a new owner. Select units are operating as short-term rentals that are currently cash-flowing, with additional units in the process of being converted, offering both stabilized income and upside potential. Internet and trash are included, and the asset benefits from strong tenant demand, operational efficiency, and long-term durability due to its quality construction and attentive ownership.
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$991,998
|
$26.37
|
| Other Income |
$56,454
|
$1.50
|
| Vacancy Loss |
$24,801
|
$0.66
|
| Effective Gross Income |
$1,023,652
|
$27.21
|
| Taxes |
$66,384
|
$1.76
|
| Operating Expenses |
$271,990
|
$7.23
|
| Total Expenses |
$338,375
|
$8.99
|
| Net Operating Income |
$685,277
|
$18.22
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $991,998 |
| Annual Per SF | $26.37 |
| Other Income (CAD) | |
|---|---|
| Annual | $56,454 |
| Annual Per SF | $1.50 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $24,801 |
| Annual Per SF | $0.66 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,023,652 |
| Annual Per SF | $27.21 |
| Taxes (CAD) | |
|---|---|
| Annual | $66,384 |
| Annual Per SF | $1.76 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $271,990 |
| Annual Per SF | $7.23 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $338,375 |
| Annual Per SF | $8.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $685,277 |
| Annual Per SF | $18.22 |
PROPERTY FACTS
| Price | $10,051,690 CAD | Building Class | B |
| Price Per Unit | $134,023 CAD | Lot Size | 2.89 AC |
| Sale Type | Investment | Building Size | 37,620 SF |
| Cap Rate | 6.82% | Average Occupancy | 98% |
| No. Units | 75 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 2001/2025 |
| Property Subtype | Apartment | Parking Ratio | 2.66/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R4 | ||
| Price | $10,051,690 CAD |
| Price Per Unit | $134,023 CAD |
| Sale Type | Investment |
| Cap Rate | 6.82% |
| No. Units | 75 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.89 AC |
| Building Size | 37,620 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built/Renovated | 2001/2025 |
| Parking Ratio | 2.66/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 30 | - | 750 |
| 3+2 | 45 | - | 1,150 |
1 1
Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $810,897 CAD (2024) | |
| Land Assessment | $0 CAD (2024) | Annual Taxes | $66,384 CAD ($1.76 CAD/SF) |
| Improvements Assessment | $0 CAD (2024) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0 CAD (2024)
Improvements Assessment
$0 CAD (2024)
Total Assessment
$810,897 CAD (2024)
Annual Taxes
$66,384 CAD ($1.76 CAD/SF)
Tax Year
2026
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Midtown Apartments | 109-111 Commercial St
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