Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    501 W Chestnut Expy Springfield, MO 65802

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    3,588 SF freestanding building suitable for restaurant or retail.

    Property size:
    3,588 SF
    Lot size:
    0.44 Acres

    Property Features for 501 W Chestnut Expy

    General Information

    Size
    3,588 SF
    Lot size
    0.44 Acres

    We can help!

    Listing Contact
    Gerald Zamora
    Gerald Zamora
    Source: Moodyscre

    Listing Agent: Gerald Zamora

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Freestanding Restaurant/Retail Building Available

    This freestanding building offers 3,588 square feet of space suitable for restaurant or retail use. The property includes 30+ parking spaces. Real estate taxes for 2022 were $15,509.26. The building is located on Chestnut Expressway.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Phillips 66 Car Wash Fast 'N Friendly Grocery & Convenience Store CreAsian Restaurant Wehr Fourt Ye ... Car Wash

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Traveling Chef, LLC, Aladdin

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.294792
    Latitude
    37.215809

    Nearby Similar for Sale

    • $899,000
      11,474 SF

      Downtown Springfield Mixed-Use Building

      Two-story brick building with retail and office space.
      220 S Campbell Ave, Springfield, MO 65806
      View Details
    • $839,900
      3,515 SF

      Class-A Office Condominium For Sale

      Turnkey 3,515 SF office space in Bradford Place Condominiums.
      1531 E Bradford Pkwy, Springfield, MO 65804
      View Details
    • New
      $800,000
      0.82 Acres

      Prime Industrial Opportunity in Springfield

      Versatile industrial property with warehouse and renovated office space.
      2752 E Kearney St, Springfield, MO 65803
      View Details
    • $490,000
      1,942 SF

      Class-A Office Suite For Sale

      Prestigious office condominium near James River Freeway, Springfield.
      1531 E Bradford Pkwy, Springfield, MO 65804
      View Details
    • $645,000
      0.44 Acres

      Historic Office Building in Springfield

      Converted office building in historic district near downtown and university.
      1201 E Walnut St, Springfield, MO 65802
      View Details
    • $349,900

      Bradford Place Office Suite

      Turnkey office suite in a professionally managed condominium setting.
      1531 E Bradford Pkwy, Springfield, MO 65804
      View Details
    • $549,000
      2,493 SF

      Bradford Place Office Suite

      Versatile office suite suitable for professional or creative use.
      1531 E Bradford Pkwy, Springfield, MO 65804
      View Details
    • $600,000
      0.06 Acres

      Professional Office in Chesterfield Village

      Well-maintained office building in established Springfield business corridor.
      2104 W Chesterfield Blvd, Springfield, MO 65807
      View Details
    • $385,000
      0.35 Acres

      Historic Springfield Bank Building

      Iconic mid-century modern building with commercial potential in Springfield.
      532 E Walnut St, Springfield, MO 65806
      View Details
    • $699,000
      2,150 SF

      Updated Office on High-Traffic Street

      Remodeled Class B office building on a busy commercial corridor.
      2760 E Sunshine St, Springfield, MO 65804
      View Details
    • $950,000
      1.44 Acres

      Freestanding Office Building on Kearney

      7,007 SF office building on 1.44 acres for sale.
      2212 W Kearney St, Springfield, MO 65803
      View Details
    • $989,000
      0.84 Acres

      Restored Office Building Near Sunshine

      Remodeled office building with modern amenities and convenient location.
      2049 S Brentwood Blvd, Springfield, MO 65804
      View Details

    FAQs

    What type of property is this?
    Restaurant - 3,588 SF freestanding building suitable for restaurant or retail.
    Where is this restaurant located?
    The property is located at 501 W Chestnut Expy Springfield, MO.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: - Freestanding Restaurant/Retail Building; - Offering 3,588 SF of space; - Benefit from 30+ parking spaces
    (417) 522-9940 Call to check price and availability
    Request Owner's contact information
    501 W Chestnut Expy Springfield, MO 65802
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    501 W Chestnut Expy
    Springfield, MO 65802
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    501 W Chestnut Expy Springfield, MO 65802
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Gerald Zamora
    Gerald Zamora
    Real Estate License ID: 2003028519
    (417) 522-9940
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!