IC-Zoned Storefront
For Sale
$250,000
2745 W Chestnut Expy, Springfield, MO 65802
Zoned IC for flexible owner-user or service use, with access to I-44 and West Bypass and highway traffic exposure.
Property Size1,122 SF
Lot Size0.24 Acres
Price / SF$222.82
Days on Market53
Property Features for 2745 W Chestnut Expy
General Information
Standard status
Active
Size
1,122 SF
Lot size
0.24 Acres
Property subtype
Retail
Zoning
IC
Additional Details
Highway Access
Yes
Building Details
Building Size
1,122 SF
Year Built
1982
Listing Agency:
Moreno Group Commercial Realty
(417) 496-5338
Listed By:
Caleb Moreno
(417) 496-5338
Source:
Morenogroupmo
Added: Jun 29
Changed: Aug 14
Last Checked: Aug 20 at 5:05AM
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 Moreno Group Commercial Realty
Investment Insights
Based on property information with market context.
This 0.24-acre property includes a 1,122 SF building built in 1982, along with zoning flexibility under IC. The combination supports a range of commercial uses, including owner-operator retail or service operations and automotive-oriented activity such as sales and service applications.
The site is strategically positioned along West Chestnut Expressway within one of Springfield’s established commercial corridors. Access is described as convenient to I-44 and West Bypass, supporting straightforward customer and delivery reach for day-to-day business operations.
For tenants, buyers, or operators, the IC zoning provides room to structure a business around retail, service, or contractor-type needs, depending on final use requirements. The property’s building size and site footprint are suited to an owner-user seeking a permanent storefront presence, as well as to an automotive sales lot concept where the site layout can support vehicle-focused merchandising. The offering may also appeal to investors evaluating a commercial asset in a corridor location with reported traffic exposure.
The site is strategically positioned along West Chestnut Expressway within one of Springfield’s established commercial corridors. Access is described as convenient to I-44 and West Bypass, supporting straightforward customer and delivery reach for day-to-day business operations.
For tenants, buyers, or operators, the IC zoning provides room to structure a business around retail, service, or contractor-type needs, depending on final use requirements. The property’s building size and site footprint are suited to an owner-user seeking a permanent storefront presence, as well as to an automotive sales lot concept where the site layout can support vehicle-focused merchandising. The offering may also appeal to investors evaluating a commercial asset in a corridor location with reported traffic exposure.
Key Highlights
- 0.24‑acre property with a 1,122 SF building built in 1982
- Zoned IC for flexible owner‑user or service business use
- Strategically positioned along West Chestnut Expressway for highway traffic exposure
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
$8,350
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
3.34%
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%
$167,000
$167.0K
Cap Rate 7%
$119,286
$119.3K
Cap Rate 9%
$92,778
$92.8K
Market Conditions
NOI Build-Up for 1,122 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
$12.4K $11.04/SF
− Vacancy
−$458 −$0.41/SF
EGI
$11.9K $10.63/SF
− OpEx
−$3.6K −$3.19/SF
NOI
$8.3K $7.44/SF
Area
Springfield, MO
Vacancy
3.70%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
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%
$167,000
Cap Rate 7%
$119,286
Cap Rate 9%
$92,778
Alternative Uses
Best Use
Retail
$119.3K
$104.4K – $139.2K
NOI $8,350 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$169.3K
$148.2K – $197.6K
NOI $11,854 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
314
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Zoned IC for flexible owner-user or service use, with access to I-44 and West Bypass and highway traffic exposure.
Where is this retail space located?
The property is located at 2745 W Chestnut Expy Springfield, MO.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 0.24‑acre property with a 1,122 SF building built in 1982; Zoned IC for flexible owner‑user or service business use; Strategically positioned along West Chestnut Expressway for highway traffic exposure
