Former Two-Story Restaurant
1129 E Walnut Street Springfield Springfield, MO 65806
1129 E Walnut Street Springfield, Springfield, MO, 65806
$250,000
Pending
For Sale
$250,000
Pending
Two-story former restaurant with a commercial kitchen and private parking on a Walnut and Florence corner site.
Property Size2,874 SF
Lot Size0.38 Acres
Days on Market22
Property Features for 1129 E Walnut Street Springfield
General Information
- Standard status
- Pending
- Size
- 2,874 SF
- Lot size
- 0.38 Acres
Building Details
- Year Built
- 1934
Listing agency
RE/MAX SHOWTIME
(417) 294-1629
Listed by
Jon Holloway
(417) 294-1629
Source
Jonholloway.showtimeproperties
Added: Jun 30 Updated: Jul 10 at 2:09PM Checked: Jul 21 at 3:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX SHOWTIME
Investment Insights
Based on property information with market context.
This two-story, approximately 2,874-square-foot former restaurant includes an attic and basement, and is offered with present trade fixtures. The kitchen setup includes a 10-foot Type 1 hood, multiple cooking surfaces, a fryer, a three-bay sink, a dishwashing station, and stainless prep tables, among other equipment included with the space.
The property sits on a corner location at Walnut and Florence with its own private parking and ample street parking. It is positioned near North National Avenue, which is reported with an AADT of 31,934, supporting straightforward visibility for a retail or dining concept. The site is approximately 0.3805 acres and is zoned R-MX3 with Overlay District UCD 1 WA.
For operators, the existing food-service infrastructure and fixture package can help reduce the start-up work typically associated with launching a restaurant. For buyers and developers, the corner configuration, private parking, and R-MX3 zoning with overlay considerations offer a practical foundation to evaluate redevelopment or continued food-service use, subject to applicable approvals.
The property sits on a corner location at Walnut and Florence with its own private parking and ample street parking. It is positioned near North National Avenue, which is reported with an AADT of 31,934, supporting straightforward visibility for a retail or dining concept. The site is approximately 0.3805 acres and is zoned R-MX3 with Overlay District UCD 1 WA.
For operators, the existing food-service infrastructure and fixture package can help reduce the start-up work typically associated with launching a restaurant. For buyers and developers, the corner configuration, private parking, and R-MX3 zoning with overlay considerations offer a practical foundation to evaluate redevelopment or continued food-service use, subject to applicable approvals.
Key Highlights
- 2,874 SF two‑story former restaurant with an attic and basement
- Corner site on Walnut and Florence with private parking plus ample street parking
- Zoned R‑MX3 with Overlay District UCD 1 WA
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.7k | $11.04 |
| − Vacancy | −$1.2k | −$0.41 |
| EGI | $30.6k | $10.63 |
| − OpEx | −$7.6k | −$2.66 |
| NOI | $22.9k | $7.97 |
2,874 SF · lease $11.04/SF/yr · vacancy 3.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$327.4K
$286.5K – $381.9K
NOI $22,916 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$433.8K
$379.6K – $506.1K
NOI $30,365 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Rama Thai Café
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Two-story former restaurant with a commercial kitchen and private parking on a Walnut and Florence corner site.
Where is this conventional restaurant located?
The property is located at 1129 E Walnut Street Springfield Springfield, MO.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 2,874 SF two‑story former restaurant with an attic and basement; Corner site on Walnut and Florence with private parking plus ample street parking; Zoned R‑MX3 with Overlay District UCD 1 WA
