Old buildings, new businesses: Old Town Cape hosts commercial property open house

A sudden downpour did not keep people away from checking out potential new properties during Old Town Cape Inc.’s fifth annual Downtown Commercial Property Open House on Thursday, May 2.

“Old Town Cape is all about the revitalization of our downtown district and so, with that, small business support is a big part of what we spend our time and our resources doing,” executive director Liz Haynes said. “We are trying to create a space where small businesses can thrive, so the more small businesses we have, the better, and the more spaces we have filled up, the better.”

The showcase lasted from 5 to 7 p.m. and featured 17 vacant or under-construction properties for interested parties to visit — 510 Broadway, 512 Broadway, 622 Broadway, 707 Broadway, 714 Broadway, 805 Broadway, 823 Broadway, 824 Broadway, 314 S. Ellis St., 340 S. Lorimier St., 18 N. Main St., 40A N. Main St., 102 N. Main St., 308 N. Main St., 221 Merriwether St., 18 N. Sprigg St. and 117 Themis St.

“It’s really good for people who are looking to start a business, maybe looking to expand their business either from their home or another part of the community or another city altogether,” Haynes said.

Sometimes, she added, the open house draws people who are simply curious to see the inside of buildings that are normally locked up.

“I just love downtown Cape and want to see behind the scenes, so to speak," said Denise McAllister, who was visiting properties. "I’m an interior designer and construction manager, so I just like to get in and see the buildings that are usually closed off.”

McAllister said she was looking for places clients might like to purchase and have her renovate.

“I like the ones that haven’t been overly renovated. I like to see them when they’re authentic and vintage, which is fun,” she added.

Real estate agent Jacob Fish showcased adjoining properties in the 500 block of Broadway that were built in 1901. Many of the properties shown during Thursday's Commercial Property Open House have featured other businesses in the past. Christopher Borro ~ cborro@semissourian.com

Making old new again

​Real estate agent Jacob Fish of Team Fish showcased 510 and 512 Broadway, two historic adjoining properties built in 1901, that he aims to host up to three businesses and a series of apartments.

“Our vision would be to put a restaurant here on the main level that utilizes both the courtyard and the alley space. It has a lot of potential with the courtyard back there,” he said.

One potential tenant has already expressed interest. The location’s walls can be modified to suit the needs of the business.

“Depending on what the tenant wants, that’s what it’s going to look like,” he said.

The upstairs of the location would feature three apartments and one online vacation rental.

“There was structural work that had to be done, a lot of gutting that had to be done. We focused on the upstairs residential first; that’s typically easier to fill than commercial.”

The plumbing and electrical work for the apartments have already been completed, and drywall will go up in coming days.

Residents could move in within the next three months, he said, and the building could be ready for a business to open by the end of the year.

“My clients often send me properties that they are interested in and then I go inquire with the owners. This was one of those properties,” Fish said. “I tried to get hold of the owner for years and was not able to; he was a bit of a recluse. One day I was driving down Broadway and I saw him walking right in front of the building. So I pulled over, introduced myself, gave him my business card and had a conversation.”

The building’s owner had no interest in selling, but Fish said he wanted him to keep the card just in case he changed his mind.

“Two years later, he called me. He said, ‘Jake, you probably don’t remember me’ and I go, ‘510 Broadway!’” Fish said.

Fish added the location was one of his favorite buildings downtown with plenty of potential.

“We feel it is a beautiful building. It has a bunch of historical value, and we’re hoping that we find someone who appreciates that and wants to stick with our themes,” he said.

Lori Fowler, left, and Becky Harding, right, of Area Properties Real Estate helped Mary Ann Kellerman, center, showcase the Kellerman Foundation for Historic Preservation on North Main Street in downtown Cape Girardeau. Kellerman and her husband purchased Cape Girardeau's former city hall in 2023 and are moving the exhibit location there while looking for a new commercial buyer for the Main Street building.Christopher Borro ~ cborro@semissourian.com

Building up businesses

​While some of the buildings still needed significant renovation, others are all but ready for a business. Such was the case of 102 N. Main St., a 99-year-old building home to the Kellerman Foundation for Historic Preservation.

“We’ve used it as a museum, but we’ve most recently bought (the city’s previous) city hall, so we need to sell this one to redo that one,” founder Mary Ann Kellerman said. “We have four giant exhibits and no space to show them.”

Real estate agent Becky Harding and broker-associate Lori Fowler helped Kellerman showcase the location at the open house.

Harding said the building could be transformed for any number of potential uses, such as a restaurant, bridal store, antique shop or corporate offices.

“It could be a whole lot of wonderful things,” she said.

The property includes a 28-spot parking lot, a recently revamped heating and cooling system and a 3,000-square-foot basement.

The former city hall location has twice the available room for museum exhibits and Kellerman said it would take years to completely renovate it. However, she said 102 N. Main St. is ready for a business to move into as soon as someone acquires it.

“That’s one of the reasons we were so glad when Mary Ann called us … because we do want the public to come in, and we do want people to see what it could be. It is just such a sound building … and it’s in really good shape,” Harding said.

Haynes said around half of the properties visited each year are leased or sold before the next year’s open house.

“Despite the bad weather, we have gotten really great traction with it,” she said. “One of the property owners said he had 15 people waiting to get into his property 15 minutes before the event even started, so it was a really great turnout.”