Two-Unit Office
New
For Sale
$1,400,000
838 S Glenstone Avenue, Springfield, MO 65802
Commercial Sale, Springfield, MO
Property Size7,949 SF
Lot Size0.73 Acres
Price / SF$176.12
Days on Market4
Property Features for 838 S Glenstone Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
INC
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bathroom 2, Bathroom 1
Directions
Follow Glenstone North approx. 3 blocks North of Grand St. Property on Southeast corner of Glenstone & Page
Standard status
Active
APN
1220310008
Lot size
0.73 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Stephen's Sub Div Beg Se Cor Glenstone & Page E 198.9 Ft S 2 54.5 Ft To Rr Nwlyalg Rr 273.4 Ft To Pt 75.4 Ft S Of Beg Th N 75.4 Ft To Beg
Tax Annual Amount
12716
Legal Description
Stephen's Sub Div Beg Se Cor Glenstone & Page E 198.9 Ft S 2 54.5 Ft To Rr Nwlyalg Rr 273.4 Ft To Pt 75.4 Ft S Of Beg Th N 75.4 Ft To Beg
Utilities
Utilities
Electricity Available
Building Details
Year built
1968
Number of units
2
Listing Agency:
Platinum Estates Realty Inc
Listed By:
Mariah Stone
(417) 599-0881
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 8 at 4:06AM
MLS# 60333229
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 commercial property contains approximately 7,949 square feet arranged across two units on a 0.73-acre parcel. The configuration supports separate occupancy or coordinated use within one ownership structure, while four bathrooms and available electricity add practical utility. Built in 1968, the property is classified as office units and includes substantial surface parking.
The building occupies the signalized intersection of South Glenstone Avenue and Page Street in Springfield, Missouri. Its location provides frontage along South Glenstone Avenue, convenient access, and exposure within an established commercial corridor. The two-unit layout and parking supply provide flexibility for office occupancy or other commercial applications subject to applicable approvals and use requirements.
The building occupies the signalized intersection of South Glenstone Avenue and Page Street in Springfield, Missouri. Its location provides frontage along South Glenstone Avenue, convenient access, and exposure within an established commercial corridor. The two-unit layout and parking supply provide flexibility for office occupancy or other commercial applications subject to applicable approvals and use requirements.
Key Highlights
- Approximately 7,949 SF across two commercial units
- 0.73‑acre parcel with substantial surface parking
- Signalized corner at South Glenstone Avenue and Page Street
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
$62,988
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
4.50%
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%
$1,259,760
$1.3M
Cap Rate 7%
$899,829
$899.8K
Cap Rate 9%
$699,867
$699.9K
Market Conditions
NOI Build-Up for 7,949 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
$87.8K $11.04/SF
− Vacancy
−$3.8K −$0.47/SF
EGI
$84.0K $10.57/SF
− OpEx
−$21.0K −$2.64/SF
NOI
$63.0K $7.92/SF
Area
Springfield, MO
Vacancy
4.30%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,259,760
Cap Rate 7%
$899,829
Cap Rate 9%
$699,867
Alternative Uses
Best Use
Office B
$899.8K
$787.4K – $1.05M
NOI $62,988 @ 7.0% cap · market cap 4.50%
Second Best
Healthcare Medical
$899.8K
$787.4K – $1.05M
NOI $62,988 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,983 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 65802, MO
48,233
Population
20,199
Households
2.4
Avg Household Size
35
Median Age
26%
College-Educated
89%
High-School Grad
61.4 sq mi
ZIP Area
786
Density / Sq Mi
$51,080
Median Household Income
$34,298
Median Earnings
$900
Median Rent
$162,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial building at a signalized intersection with surface parking and electricity available.
Where is this office units located?
The property is located at 838 S Glenstone Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Approximately 7,949 SF across two commercial units; 0.73‑acre parcel with substantial surface parking; Signalized corner at South Glenstone Avenue and Page Street
