Built-Out Medical Office
For Sale
$325,000
1332 W Sunshine Street, Springfield, MO 65807
SINGLE_FAMILY - Springfield, MO
Property Size2,500 SF
Lot Size0.12 Acres
Price / SF$130
Days on Market283
Property Features for 1332 W Sunshine Street
General Information
Property type
Residential
Property subtype
Office
Zoning
GR
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Directions
N on Campbell. W on Sunshine. Property on Left.
Standard status
Active
APN
1335208034
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
WESTWOOD ACRES REPLAT BLK A W 20 FT E 40 FT LOT 3 BLK A
Tax Annual Amount
2964
Legal Description
WESTWOOD ACRES REPLAT BLK A W 20 FT E 40 FT LOT 3 BLK A
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Electric, Central Air
Building Details
Year built
1958
Listing Agency:
Reece Commercial - Springfield
(417) 882-5710
Listed By:
Sam R. Craft · License #2019042641
(417) 955-1232
Added: Nov 7, 2025
Changed: Aug 2
Last Checked: Aug 17 at 4:06PM
MLS# 60309332
Copyright © 2026 Southern Missouri Regional MLS, LLC (SOMO). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This medical office space offers 2,500+/- square feet of office/retail space currently built out for office use, including several private offices and a reception area. The space is plumbed throughout for medical users, making it well suited for an operator looking for a ready-to-occupy layout.
Located at 1332 W Sunshine Street in Springfield, Missouri, the property is positioned on the Sunshine corridor with 30,800 AADT, supporting visibility for retail and customer-facing uses. Zoning is listed as GR.
The building was constructed in 1958. Heating is provided by forced air with natural gas, and cooling is electric central air.
Located at 1332 W Sunshine Street in Springfield, Missouri, the property is positioned on the Sunshine corridor with 30,800 AADT, supporting visibility for retail and customer-facing uses. Zoning is listed as GR.
The building was constructed in 1958. Heating is provided by forced air with natural gas, and cooling is electric central air.
Key Highlights
- 2,500+/- SF office/retail space with several private offices and reception
- Plumbed throughout for medical users
- 0.12‑acre property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,810
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$396,200
$396.2K
Cap Rate 7%
$283,000
$283.0K
Cap Rate 9%
$220,111
$220.1K
Market Conditions
NOI Build-Up for 2,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.5K $13.80/SF
− Vacancy
−$1.5K −$0.59/SF
EGI
$33.0K $13.21/SF
− OpEx
−$13.2K −$5.28/SF
NOI
$19.8K $7.92/SF
Area
Springfield, MO
Vacancy
4.30%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$396,200
Cap Rate 7%
$283,000
Cap Rate 9%
$220,111
Alternative Uses
Best Use
Healthcare Medical
$283.0K
$247.6K – $330.2K
NOI $19,810 @ 7.0% cap · market cap 6.10%
Second Best
Office B
$283.0K
$247.6K – $330.2K
NOI $19,810 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$377.3K
$330.2K – $440.2K
NOI $26,413 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,800 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 65807, MO
55,168
Population
28,546
Households
1.9
Avg Household Size
36
Median Age
33%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
2,627
Density / Sq Mi
$50,271
Median Household Income
$33,510
Median Earnings
$994
Median Rent
$174,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Spring Valley Veterinary Hospital - WEST — 1634 W Elfindale St, Springfield, MO 65807
- Angel Animal Hospital — 1332 W Sunshine St, Springfield, MO 65807
- Dr. Gary Nie — 1332 W Sunshine St, Springfield, MO 65807
Frequently Asked Questions
What type of property is this?
Medical Office Space - Built-out office/retail space plumbed for medical use on a high-traffic Sunshine corridor.
Where is this medical office space located?
The property is located at 1332 W Sunshine Street Springfield, MO.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,500+/- SF office/retail space with several private offices and reception; Plumbed throughout for medical users; 0.12‑acre property
