Office-Retail Building with
For Sale
$5,000,000
3340 E Cherry Street Springfield, Springfield, MO 65802
A flexible office and retail building with ample on-site parking and clear frontage for customer and employee access.
Property Size25,308 SF
Price / SF$197.57
Days on Market45
Property Features for 3340 E Cherry Street Springfield
General Information
Standard status
Active
Size
25,308 SF
Taxes and HOA fees
Annual Taxes
$58,751
Amenities
3.16
20+ Spaces
25308
Building Details
Building Size
25,308 SF
Year Built
2008
Listing Agency:
(417) 840-6265
Listed By:
Trimble Team
(417) 840-6265
Source:
Karentrimble.exprealty
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 20 at 4:13AM
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 Trimble Team
Investment Insights
Based on property information with market context.
The property at 3340 E Cherry St is a versatile commercial building designed to support office, retail, or service-based operations. The layout is described as functional and adaptable, making it suitable for a range of business uses under one roof. On-site parking and clear frontage are key physical features, supporting convenient access for both customers and employees.
Situated just east of Glenstone Avenue, the site is positioned along one of Springfield’s more active commercial corridors. The property is described as benefiting from steady traffic counts and convenient access to major thoroughfares, which can help make day-to-day visits more manageable for visitors and staff. Surrounding uses are described as a mix of retailers, medical offices, and professional services.
For an owner-user, the flexibility to operate in office, retail, or service formats can simplify space planning while maintaining visibility from the corridor. For investors, the adaptable configuration supports multiple tenancy strategies aligned with office and retail/service demand, with parking and frontage intended to support customer access. The property’s location within Springfield is also described as supporting efficient access to key areas of the city.
Situated just east of Glenstone Avenue, the site is positioned along one of Springfield’s more active commercial corridors. The property is described as benefiting from steady traffic counts and convenient access to major thoroughfares, which can help make day-to-day visits more manageable for visitors and staff. Surrounding uses are described as a mix of retailers, medical offices, and professional services.
For an owner-user, the flexibility to operate in office, retail, or service formats can simplify space planning while maintaining visibility from the corridor. For investors, the adaptable configuration supports multiple tenancy strategies aligned with office and retail/service demand, with parking and frontage intended to support customer access. The property’s location within Springfield is also described as supporting efficient access to key areas of the city.
Key Highlights
- 3.16‑acre lot with a total building area of 25,308 SF
- Flexible office/retail layout can accommodate office, retail, or service‑based operations
- Built in 2008
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
$200,540
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
4.01%
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%
$4,010,800
$4.0M
Cap Rate 7%
$2,864,857
$2.9M
Cap Rate 9%
$2,228,222
$2.2M
Market Conditions
NOI Build-Up for 25,308 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
$279.4K $11.04/SF
− Vacancy
−$12.0K −$0.47/SF
EGI
$267.4K $10.57/SF
− OpEx
−$66.8K −$2.64/SF
NOI
$200.5K $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%
$4,010,800
Cap Rate 7%
$2,864,857
Cap Rate 9%
$2,228,222
Alternative Uses
Best Use
Office B
$2.86M
$2.51M – $3.34M
NOI $200,540 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.82M
$3.34M – $4.46M
NOI $267,386 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
214
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 flexible office and retail building with ample on-site parking and clear frontage for customer and employee access.
Where is this office building located?
The property is located at 3340 E Cherry Street Springfield Springfield, MO.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 3.16‑acre lot with a total building area of 25,308 SF; Flexible office/retail layout can accommodate office, retail, or service‑based operations; Built in 2008
