Two-Story Historic Office
For Sale
$595,000
1201 E Walnut Street Springfield, Springfield, MO 65802
A 1911-era two-story office property with dedicated parking and multiple meeting and work areas.
Property Size6,690 SF
Lot Size0.50 Acres
Price / SF$88.94
Days on Market52
Property Features for 1201 E Walnut Street Springfield
General Information
Standard status
Active
Size
6,690 SF
Lot size
0.50 Acres
Zoning
INC
Additional Details
Traffic Count
20,000 vehicles/day
Office Units
9
Taxes and HOA fees
Annual Taxes
$8,944
Amenities
Wood
0.44
16-20 Spaces
6690
Building Details
Building Size
6,690 SF
Year Built
1911
Stories
2
Listing Agency:
RE/MAX SHOWTIME
(417) 294-1629
Listed By:
Jon Holloway
(417) 294-1629
Source:
Jonholloway.showtimeproperties
Added: Jun 30
Changed: Aug 16
Last Checked: Aug 20 at 4:10AM
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.
1201 E Walnut is a two-story office building originally constructed in 1911 and converted to retain its original character while supporting functional office use. The brick exterior includes limestone accents, and the interior layout features 9 office spaces plus an open area workspace on the top floor. The building also includes 3 full bathrooms, a conference room, a waiting/living room, and a kitchen. A detached two-car garage provides additional storage.
The property is situated on the corner of Walnut and National in the Walnut Street Historic District and sits on nearly half an acre. A large parking lot with 16 to 20 spaces supports day-to-day access, and the property is described as having a daily traffic count of over 20,000 cars. It is located near restaurants and retail, as well as Missouri State University and Downtown Springfield.
This configuration is well suited for tenants or owners seeking a traditional office environment with a mix of private offices, a shared open work area, and dedicated meeting space. The parking and interior amenities support office operations that require both day-to-day workspace and client or staff gathering areas.
The property is situated on the corner of Walnut and National in the Walnut Street Historic District and sits on nearly half an acre. A large parking lot with 16 to 20 spaces supports day-to-day access, and the property is described as having a daily traffic count of over 20,000 cars. It is located near restaurants and retail, as well as Missouri State University and Downtown Springfield.
This configuration is well suited for tenants or owners seeking a traditional office environment with a mix of private offices, a shared open work area, and dedicated meeting space. The parking and interior amenities support office operations that require both day-to-day workspace and client or staff gathering areas.
Key Highlights
- 1911 two‑story office building in the Walnut Street Historic District
- Nearly 0.44‑acre corner lot on Walnut and National with brick exterior and limestone accents
- Large parking lot with 16–20 spaces plus a detached two‑car garage for extra storage
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
$53,011
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
8.91%
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%
$1,060,220
$1.1M
Cap Rate 7%
$757,300
$757.3K
Cap Rate 9%
$589,011
$589.0K
Market Conditions
NOI Build-Up for 6,690 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
$73.9K $11.04/SF
− Vacancy
−$3.2K −$0.47/SF
EGI
$70.7K $10.57/SF
− OpEx
−$17.7K −$2.64/SF
NOI
$53.0K $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%
$1,060,220
Cap Rate 7%
$757,300
Cap Rate 9%
$589,011
Alternative Uses
Best Use
Office B
$757.3K
$662.6K – $883.5K
NOI $53,011 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$883.5K – $1.18M
NOI $70,682 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Office units
20,000 VPD
Traffic count
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - A 1911-era two-story office property with dedicated parking and multiple meeting and work areas.
Where is this office building located?
The property is located at 1201 E Walnut Street Springfield 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: 1911 two‑story office building in the Walnut Street Historic District; Nearly 0.44‑acre corner lot on Walnut and National with brick exterior and limestone accents; Large parking lot with 16–20 spaces plus a detached two‑car garage for extra storage
