[5] The community was named for Leonidas Lucilius Steele, an early settler who came to Pemiscot County in 1874 and moved to Steele in 1885, where he operated a hotel and mercantile business.

In 1912, Steele contained seven general stores, three cotton gins, a sawmill and a gristmill.

[9] In August 1946, the Blytheville base and its auxiliary facilities (including the field at Steele) were declared surplus property.

Local James K. Burton obtained a fiver year lease on the field to operate a flying school on the property.

[10] Steele is located in southern Pemiscot County, approximately five miles north of the Missouri-Arkansas state line.

Caruthersville is on the Mississippi River, eleven miles northeast of Steele.

There were 919 housing units at an average density of 499.5 per square mile (192.9/km2).

29.4% of all households were made up of individuals, and 13% had someone living alone who was 65 years of age or older.

30.7% of all households were made up of individuals, and 15.6% had someone living alone who was 65 years of age or older.