Retail Space with
For Sale
$876,500
2122 S Glenstone Avenue, Springfield, MO 65804
Commercial Sale, Springfield, MO
Property Size8,364 SF
Lot Size0.48 Acres
Price / SF$104.79
Days on Market130
Property Features for 2122 S Glenstone Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
INC
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Directions
From Glenstone and Battlefield, head north through Seminole intersection. Building is on your right.
Standard status
Active
APN
1232206033
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S 77 1/2 Ft N 232 1/2 Ft W 310.5 Ft S 12A W3/4 Sw1/4 Nw1/4 3 2/29/21 (Ex Sts)
Tax Annual Amount
5442
Legal Description
S 77 1/2 Ft N 232 1/2 Ft W 310.5 Ft S 12A W3/4 Sw1/4 Nw1/4 3 2/29/21 (Ex Sts)
Utilities
Utilities
Water Available
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Electric
Amenities
open floor plan
fireplace sitting area
kitchen area
bathroom
basement storage
second bathroom
workshop area
bay door
ample parking
Building Details
Year built
1985
Roof type
Composition
Listing Agency:
Keller Williams Local · Keller Williams Realty
(417) 883-4900
Listed By:
Adam Graddy · License #2004014961
(417) 501-5091
Added: Apr 21
Changed: Aug 26
Last Checked: Aug 28 at 9:06AM
MLS# 60321429
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 retail property at 2122 S Glenstone Avenue includes an open main-level layout with showroom space, a kitchen, and a bathroom. The lower level adds storage, workspace, and a second bathroom, while a dedicated workshop and bay door support receiving, equipment movement, or inventory handling. A fireplace seating area provides a distinct interior feature. The building was constructed in 1985 and includes central air, electric cooling, natural gas and forced-air heating, a composition roof, and water availability. The 0.48-acre site provides parking at both the front and rear of the building.
The property is located along Glenstone Avenue in Springfield, adjacent to a Maverik gas station and near Red Lobster and The Carpet Shoppe. It is zoned INC and positioned among established retail and dining businesses.
The property is located along Glenstone Avenue in Springfield, adjacent to a Maverik gas station and near Red Lobster and The Carpet Shoppe. It is zoned INC and positioned among established retail and dining businesses.
Key Highlights
- Approximately 0.48‑acre retail property at 2122 S Glenstone Avenue, Springfield, MO 65804
- Open main‑level showroom layout with kitchen, bathroom, and fireplace seating area
- Basement includes storage, additional workspace, and a second bathroom
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
$62,245
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
7.10%
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%
$1,244,900
$1.2M
Cap Rate 7%
$889,214
$889.2K
Cap Rate 9%
$691,611
$691.6K
Market Conditions
NOI Build-Up for 8,364 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
$92.3K $11.04/SF
− Vacancy
−$3.4K −$0.41/SF
EGI
$88.9K $10.63/SF
− OpEx
−$26.7K −$3.19/SF
NOI
$62.2K $7.44/SF
Area
Springfield, MO
Vacancy
3.70%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,244,900
Cap Rate 7%
$889,214
Cap Rate 9%
$691,611
Alternative Uses
Best Use
Retail
$889.2K
$778.1K – $1.04M
NOI $62,245 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,368 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
Explore this area
Business Placement
Demographics for 65804, MO
40,064
Population
20,118
Households
2
Avg Household Size
40
Median Age
42%
College-Educated
97%
High-School Grad
18.6 sq mi
ZIP Area
2,154
Density / Sq Mi
$58,288
Median Household Income
$40,103
Median Earnings
$898
Median Rent
$227,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Open-layout commercial building with front and rear parking, workshop space, and a bay door for delivery access.
Where is this retail space located?
The property is located at 2122 S Glenstone Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $876,500.
What are key features of this property?
This property features: Approximately 0.48‑acre retail property at 2122 S Glenstone Avenue, Springfield, MO 65804; Open main‑level showroom layout with kitchen, bathroom, and fireplace seating area; Basement includes storage, additional workspace, and a second bathroom
