Corner Lot Car
703 S Glenstone Avenue Springfield, MO 65802
For Sale
$300,000
Active car lot on busy Glenstone Ave with high visibility.
Property Size5,073 SF
Lot Size0.26 Acres
Price / SF$59.14
Days on Market637
Property Features for 703 S Glenstone Avenue
General Information
Standard status
Active
Size
5,073 SF
Lot size
0.26 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1938
Listing Agency:
Keller Williams
(417) 501-5091
Listed By:
Adam Graddy · License #2004014961
(417) 501-5091
Source:
Exitrealty
Added: Oct 30, 2024
Changed: Jul 6
Last Checked: Jul 27 at 5:22AM
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 Keller Williams
Investment Insights
Based on property information with market context.
This commercial property, currently operating as a car lot, is located on a corner lot with high visibility and traffic count on Glenstone Avenue in Springfield. The property includes a building with 5 private offices featuring laminate flooring and two restrooms on the main floor. The upstairs area contains 4 additional spaces and a full bathroom that is partially finished. Storage space is available, along with 2 one-car bays. The property provides parking for 15 cars. The property size is 5073 square feet.
Key Highlights
- High visibility corner lot location on busy Glenstone Ave.
- Active car lot with existing commercial use.
- Five private offices and two restrooms on the main floor.
Financial Insights For Industrial
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 | $23.7k | $4.68 |
| − Vacancy | −$499 | −$0.10 |
| EGI | $23.2k | $4.58 |
| − OpEx | −$7.0k | −$1.37 |
| NOI | $16.3k | $3.21 |
5,073 SF · lease $4.68/SF/yr · vacancy 2.10% · expense 30.00%
Alternative Uses
Best Use
Office B
$574.3K
$502.5K – $670.0K
NOI $40,198 @ 7.0% cap · market cap 13.40%
Second Best
Retail
$539.3K
$471.9K – $629.2K
NOI $37,754 @ 7.0% cap · market cap 12.58%
Theoretical Best
Office A
$765.7K
$670.0K – $893.3K
NOI $53,598 @ 7.0% cap · market cap 17.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Work Horse Automotive Sales & Services — 1530 E St Louis St, Springfield, MO 65802
- Spoolin Enterprises / Zhookup — 1261 E St Louis St, Springfield, MO 65802
- Penske Truck Rental — 1301 E St Louis St, Springfield, MO 65802
- U-Haul Neighborhood Dealer — 706 S Glenstone Ave, Springfield, MO 65802
- Cox Climate-Storage — 221 S National Ave, Springfield, MO 65802
Frequently Asked Questions
What type of property is this?
Parking lot & garage - Active car lot on busy Glenstone Ave with high visibility.
Where is this parking lot & garage located?
The property is located at 703 S Glenstone Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: High visibility corner lot location on busy Glenstone Ave.; Active car lot with existing commercial use.; Five private offices and two restrooms on the main floor.
