Building Details

Year Built 1911

Listing Agency: Murney Associates - Primrose

Listed By: Langston Group · License #2017005672 Show Phone

Source: Trilakeshomesearch

Added: Aug 25 Changed: Oct 10 Last Checked: Oct 11 at 6:24AM

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Investment Insights

Based on property information with market context.

Built in 1911, this 6,402-square-foot property is currently arranged as nine office spaces and has three bathrooms. Its interior retains hardwood flooring, fireplaces with mantels, and architectural details, alongside a kitchen with custom cabinetry. Two front entrances include one that leads directly to the second story. A wraparound porch, paved parking area, and detached garage complete the property.

The building is zoned high density residential and operates as office space under a special use permit. Missouri State University, downtown, and the Rountree neighborhood are nearby. The paved parking area accommodates 16+ vehicles, and the detached garage has space for two cars.

Key Highlights

• 6,402 square feet; built in 1911
• Currently configured with nine office spaces and three bathrooms
• High density residential zoning; office use under a special use permit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,729

Cap Rate

8.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,014,580 $1.0M

Cap Rate 7%

$724,700 $724.7K

Cap Rate 9%

$563,656 $563.7K

Market Conditions

NOI Build-Up for 6,402 SF

Gross rent

$70.7K $11.04/SF

− Vacancy

−$3.0K −$0.47/SF

EGI

$67.6K $10.57/SF

− OpEx

−$16.9K −$2.64/SF

NOI

$50.7K $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 Rate 5%

$1,014,580

Cap Rate 7%

$724,700

Cap Rate 9%

$563,656

Alternative Uses

Best Use

Office B

$724.7K

$634.1K – $845.5K (±1% cap)

NOI $50,729 @ 7.0% cap · market cap 8.53%

Second Best

Mixed Use

$684.2K

$598.7K – $798.3K (±1% cap)

NOI $47,895 @ 7.0% cap · market cap 8.05%

Theoretical Best

Office A

$966.3K

$845.5K – $1.13M (±1% cap)

NOI $67,639 @ 7.0% cap · market cap 11.37%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

SignalPoint Asset Management, ... Financial Advisor Hoffman Carolyn Insurance Agency Greenworks Creative Landscapes General Contractor

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Catering Service Locksmith Skin Care Clinic Cosmetic Store Wine and Liquor Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

9

Office units

Location Intelligence

Trade Area within ½ mile

468

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Office building - A converted historic property has a multi-office layout and a special use permit for office operations.

Where is this office building located?

The property is located at 1201 E Walnut St Springfield, MO.

What is the asking price?

The asking price for this property is $595,000.

What are key features of this property?

This property features: 6,402 square feet; built in 1911; Currently configured with nine office spaces and three bathrooms; High density residential zoning; office use under a special use permit