Four-Story Office Building For
3253 E Chestnut Expressway Springfield, MO 65802
3253 E Chestnut Expressway, Springfield, MO, 65802
$22,500,000
For Sale
$22,500,000
162,312 SF office building with many amenities.
Property Size162,312 SF
Lot Size7.84 Acres
Price / SF$138.62
Days on Market138
Property Features for 3253 E Chestnut Expressway
General Information
- Standard status
- Active
- Size
- 162,312 SF
- Lot size
- 7.84 Acres
- Property subtype
- Office
Listing agency
SVN | Rankin Company, LLC
(417) 818-8894
Listed by
Lee McLean III, SIOR, CCIM
(417) 818-8894
Source
Svn
Added: Mar 5 Updated: Jul 10 at 3:48PM Checked: Jul 21 at 6:43AM
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 SVN | Rankin Company, LLC
Investment Insights
Based on property information with market context.
The Frisco Building, a 162,312 square foot, four-story office building in Springfield, Missouri, is available for sale. The property features many amenities and has undergone significant updates and infills in recent years. The current tenant mix includes well-known regional and national companies. In addition to standard units, the building includes a restaurant/cafe, a fitness center with showers, and a shared training/meeting room. The building has a rentable area of approximately 117,544 square feet and sits on a 7.84-acre lot with approximately 600 parking spaces. The property is currently 80% occupied, with a 3-year average occupancy of 95%. The office building is strategically located at the interchange of Chestnut Expressway and U.S. Highway 65, providing quick access to the Springfield Business District and the surrounding region. The property has been well-maintained by an onsite ownership group, with significant and ongoing capital improvements made regularly. The facility is located along U.S. Highway 65 on Chestnut Expressway, within a 15-minute drive of a population exceeding 150,000. This location offers immediate access to the central business district of Springfield, Missouri, including city and county offices and university campuses. Recent developments in the area include Costco, Menards, Whataburger, and Mr. Car Wash.
Key Highlights
- High average occupancy rate of 95% over the last 3 years.
- Strategic location at the interchange of Chestnut Expressway and U.S. Highway 65, providing excellent access to the Springfield Business District and surrounding areas.
- Significant and ongoing capital improvements by an onsite ownership group.
Local Financial Insights For Office B
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 | $1.79M | $11.04 |
| − Vacancy | −$77.1k | −$0.47 |
| EGI | $1.71M | $10.57 |
| − OpEx | −$428.7k | −$2.64 |
| NOI | $1.29M | $7.92 |
162,312 SF · lease $11.04/SF/yr · vacancy 4.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$18.37M
$16.08M – $21.44M
NOI $1,286,154 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$24.50M
$21.44M – $28.58M
NOI $1,714,872 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Secure Insurance Group
Insurance Agency
The Alchemedia Project
Marketing & Advertising
Dairy Farmers of America
Production Facility
Scott Aaron Galligos, ...
Pediatrician
Infused Catering by ...
Take-out & Catering
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - 162,312 SF office building with many amenities.
Where is this office building located?
The property is located at 3253 E Chestnut Expressway Springfield, MO.
What is the asking price?
The asking price for this property is $22,500,000.
What are key features of this property?
This property features: High average occupancy rate of 95% over the last 3 years.; Strategic location at the interchange of Chestnut Expressway and U.S. Highway 65, providing excellent access to the Springfield Business District and surrounding areas.; Significant and ongoing capital improvements by an onsite ownership group.
