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    Retail/Office Suite with Open Layout Title is generated by Realmo AI

    1726 S Luster Avenue, Springfield, MO 65804

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    SINGLE_FAMILY - Springfield, MO

    Type:Office
    Lot size:
    2.52 Acres
    Added:
    Jul 7, 2025
    Days on Market:
    332
    Last Refresh:
    Jun 3 at 6:06 pm

    Property Features for 1726 S Luster Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Standard status
    Active
    APN
    1229404107
    Lot size
    2.52 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Sunshine Heights Subdivision Lots 9, 10 & 11
    Tax Annual Amount
    16225

    Utilities

    Heating system
    Forced Air, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2024
    Number of units
    1

    We can help!

    Listing Contact
    Adam Graddy
    Adam Graddy

    Listing agent Adam Graddy License #2004014961

    Listing office Keller Williams 1619 E. Independence St., Springfield, MO

    Listing date Jul 7, 2025

    MLS# 60298992

    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

    • 703 SF office/retail suite for lease at 1726 S Luster Ave in Springfield, MO
    • Building constructed in 2024 with a clean, open layout
    • Lease is gross: landlord covers all expenses except tenant’s cleaning and security of their own unit
    • Suite includes men’s and women’s restrooms with multiple stalls, plus allocated parking
    • Utilities included in rent; heating via forced air/electric and central air cooling
    • Can be leased together with 1724 S Luster

    Overview

    This 2024-constructed building offers a 703 SF office or retail suite designed with a clean, open layout. The space includes access to men’s and women’s restrooms with multiple stalls, and the property provides allocated parking for tenants and guests.

    The suite is located just off Sunshine Street in Springfield’s growing commercial area, with nearby retail and dining options. The area also includes professional offices, including law firms, and is near The Columns Apartments, supporting strong everyday visibility and accessibility.

    This configuration is well-suited for a range of front-facing or service-oriented businesses that benefit from an efficient, flexible interior. The lease is structured as gross, with the landlord covering all expenses except tenant responsibilities for cleaning and security of the tenant’s own unit. Utilities are included in rent, and the suite can also be leased together with 1724 S Luster for tenants seeking additional space and a larger operating footprint.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.252908
    Latitude
    37.182543

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    FAQs

    What type of property is this?
    Office units - New 2024 suite with an open layout, allocated parking, and shared restrooms, offered on a gross expense structure.
    Where is this office units located?
    The property is located at 1726 S Luster Avenue Springfield, MO.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: 703 SF office/retail suite for lease at 1726 S Luster Ave in Springfield, MO; Building constructed in 2024 with a clean, open layout; Lease is gross: landlord covers all expenses except tenant’s cleaning and security of their own unit
    (417) 501-5091
    We can help!
    Listing Contact
    Adam Graddy
    Adam Graddy
    Real Estate License ID: 2004014961
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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