Office Building with Detached
For Sale
$120,000
1243 E Thoman Street, Springfield, MO 65803
HM zoning and a flexible interior support office or business operations.
Property Size966 SF
Price / SF$124.22
Days on Market91
Property Features for 1243 E Thoman Street
General Information
Standard status
Active
Size
966 SF
Property subtype
Commercial
Zoning
HM
Site & Location
Neighborhood
Robberson
Additional Details
Condition
Built-Out
Property Use
Office
Taxes and HOA fees
Annual Taxes
$489
Amenities
conference area
reception area
kitchen
detached garage
storage sheds
fenced yard
Building Details
Building Size
966 SF
Year Built
1914
Listing Agency:
ReeceNichols - Springfield
(417) 883-6666
Listed By:
Aaron R Wilken · License #2000147249
(417) 831-9200
Source:
Jimhutchesonrealtors
Added: Aug 4
Changed: Nov 2
Last Checked: Oct 30 at 2:08AM
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 ReeceNichols - Springfield
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Investment Insights
Based on property information with market context.
This 966-square-foot office building dates to 1914 and has a two-bedroom, one-bath layout. Its interior includes spacious work areas and an open reception, conference, or waiting area with hardwood floors. The kitchen has a gas range, dishwasher, built-in microwave, disposal, and cabinet storage. Newer windows add to the existing improvements.
A detached garage offers additional storage or workshop space. The property also includes a fenced yard, storage sheds, and off-street parking potential. Zoned HM, it is suited to commercial use, with the source describing possible office, contractor, small-business, and service-operation applications.
A detached garage offers additional storage or workshop space. The property also includes a fenced yard, storage sheds, and off-street parking potential. Zoned HM, it is suited to commercial use, with the source describing possible office, contractor, small-business, and service-operation applications.
Key Highlights
- 966‑square‑foot office building built in 1914
- HM zoning
- Two‑bedroom, one‑bath layout with open reception or meeting area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,655
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$153,100
$153.1K
Cap Rate 7%
$109,357
$109.4K
Cap Rate 9%
$85,056
$85.1K
Market Conditions
NOI Build-Up for 966 SF
Gross rent
$10.7K $11.04/SF
− Vacancy
−$459 −$0.47/SF
EGI
$10.2K $10.57/SF
− OpEx
−$2.6K −$2.64/SF
NOI
$7.7K $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%
$153,100
Cap Rate 7%
$109,357
Cap Rate 9%
$85,056
Alternative Uses
Best Use
Office B
$109.4K
$95.7K – $127.6K
NOI $7,655 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$145.8K
$127.6K – $170.1K
NOI $10,206 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
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Business Placement
Demographics for 65803, MO
42,007
Population
19,659
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
91%
High-School Grad
93.4 sq mi
ZIP Area
450
Density / Sq Mi
$46,539
Median Household Income
$33,537
Median Earnings
$890
Median Rent
$158,200
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - HM zoning and a flexible interior support office or business operations.
Where is this office building located?
The property is located at 1243 E Thoman Street Springfield, MO.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: 966‑square‑foot office building built in 1914; HM zoning; Two‑bedroom, one‑bath layout with open reception or meeting area
