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Remodeled Multifamily Property Near Development

1502 N Grant Avenue, Springfield, MO 65803

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For Sale

$375,000

MULTI_FAMILY - Springfield, MO

Property size:

3,553 SF

Lot size:

0.22 Acres

Price / SF:

$105/SF

HighLights

1918 building with public sewer service
Completely remodeled exterior and gutted down to the studs
Zoned Med Density MF allowing 7 units or an 11BR group housing project
Includes 11 bedrooms (Bedroom 1 through Bedroom 11)

We can help!

Contact an agent

Jacob W Krizan

For Sale

$375,000

MULTI_FAMILY - Springfield, MO

Property size:

3,553 SF

Lot size:

0.22 Acres

Price / SF:

$105/SF

Added:: Feb 18, 2026
Days on Market:: 140
Last Refresh:: Jul 8 at 5:06 am

Property Features for 1502 N Grant Avenue

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: Multi Family
Bedrooms: 11
Rooms: Bedroom 8, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 9, Bedroom 10, Bedroom 3, Bedroom 6, Bedroom 11, Bedroom 2, Bedroom 7
Standard status: Active
APN: N/A1311424013
Size: 3,553 SF
Lot size: 0.22 Acres

Taxes and HOA fees

Tax Year: 2025
Tax Description: Jenkins Add Lot 46 (Ex Sw Cor Deeded To City)
Tax Annual Amount: 495

Utilities

Sewer type: Public Sewer

Building Details

Year built: 1918
Number of units: 11

We can help!

Contact an agent

Jacob W Krizan

Listing agent Jacob W Krizan

Listing office Krizan, Realtors 625 S Kentwood Ave, Ozark, MO

Listing date Feb 18, 2026

MLS# 60315627 Listing URL

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.

HighLights

1918 building with public sewer service
Completely remodeled exterior and gutted down to the studs
Zoned Med Density MF allowing 7 units or an 11BR group housing project
Includes 11 bedrooms (Bedroom 1 through Bedroom 11)

Overview

This multifamily property features a completely remodeled exterior and has been gutted down to the studs. It is zoned for Medium Density Multifamily use, allowing for 7 units or an 11-bedroom group housing project, subject to zoning guidelines. The property is situated near Price Cutter, Dollar General, and Historic Commercial Street, as well as Cox Hospital. The property size is 3,553 square feet, situated on a 0.22-acre lot. The surrounding area is experiencing significant development, with over $100 million in projects within a 3-block radius. The property is located in Springfield, Missouri.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$55.9k	$15.72
− Vacancy	−$3.6k	−$1.02
EGI	$52.2k	$14.70
− OpEx	−$23.5k	−$6.61
NOI	$28.7k	$8.08

3,553 SF · lease $15.72/SF/yr · vacancy 6.50% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$410.3K

$359.0K – $478.7K (±1% cap)

NOI $28,722 @ 7.0% cap · market cap 7.66%

Second Best

—

no second resolved use

Theoretical Best

Office A

$536.3K

$469.2K – $625.6K (±1% cap)

NOI $37,538 @ 7.0% cap · market cap 10.01%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Springfield
County: Greene
State: Missouri
Longitude: -93.297827
Latitude: 37.226373

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For sale
Apartment buildings
MO
Springfield
65803
1502 N Grant Avenue

What type of property is this?

Apartment building - Multifamily property with development potential near commercial area and hospital.

Where is this apartment building located?

The property is located at 1502 N Grant Avenue Springfield, MO.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: 1918 building with public sewer service; Completely remodeled exterior and gutted down to the studs; Zoned Med Density MF allowing 7 units or an 11BR group housing project

1502 N Grant Avenue, Springfield, MO 65803

MULTI_FAMILY - Springfield, MO

Property Features for 1502 N Grant Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Versatile Retail Building with Fireplace

Renovated Office Condo

Tenant-Occupied Multi-Family Portfolio

Updated Class B Office Building

Updated Office Building Near University

Stand-Alone Office Building with Lobby

Renovated Office Space with Backyard Parking

Retail Building with Loading Dock

Former Restaurant on Historic Walnut

Office/Retail Flex Building

Turnkey Automotive Business Opportunity

Turnkey Duplex with Two Bedrooms

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