Mixed-Use Building with Street
For Sale
$2,800,000
300-308 West Commercial Street, Springfield, MO 65803
Two-story mixed-use building with street-level commercial space and 11 loft-style residential units.
Property Size17,230 SF
Price / SF$162.51
Days on Market117
Property Features for 300-308 West Commercial Street
General Information
Standard status
Active
Size
17,230 SF
Property subtype
Retail
Additional Details
Multifamily Units
11
Building Details
Building Size
17,230 SF
Year Built
1909
Stories
2
Listing Agency:
SVN | Rankin Company, LLC
Listed By:
Jeff Childs, SIOR, CCIM · License #1999029641
(417) 860-5447
Source:
Svn
Added: May 14
Changed: Sep 6
Last Checked: Sep 6 at 6:27AM
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.
300-308 W. Commercial Street is a two-story mixed-use building totaling approximately 17,230 SF. The property features street-level commercial space and 11 loft-style residential units on the second floor. Originally constructed in 1909, it was substantially renovated within the past decade and includes updated systems.
The building is positioned within one of Springfield’s most active urban redevelopment districts, supporting a stabilized mixed-use configuration.
With a combination of retail frontage at street level and residential units above, the property offers a functional vertical layout for diversified income within a single structure.
The building is positioned within one of Springfield’s most active urban redevelopment districts, supporting a stabilized mixed-use configuration.
With a combination of retail frontage at street level and residential units above, the property offers a functional vertical layout for diversified income within a single structure.
Key Highlights
- Two‑story mixed‑use building totaling approx. 17,230 SF with street‑level commercial space and 11 loft‑style residential units
- Built in 1909 with substantial renovations within the past decade
- Mixed‑use setup with commercial space on the street level and residential loft units on the second floor
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
$139,287
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
4.97%
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%
$2,785,740
$2.8M
Cap Rate 7%
$1,989,814
$2.0M
Cap Rate 9%
$1,547,633
$1.5M
Market Conditions
NOI Build-Up for 17,230 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
$270.9K $15.72/SF
− Vacancy
−$17.6K −$1.02/SF
EGI
$253.2K $14.70/SF
− OpEx
−$114.0K −$6.61/SF
NOI
$139.3K $8.08/SF
Area
Springfield, MO
Vacancy
6.50%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$2,785,740
Cap Rate 7%
$1,989,814
Cap Rate 9%
$1,547,633
Alternative Uses
Best Use
Apartment 5plus
$1.99M
$1.74M – $2.32M
NOI $139,287 @ 7.0% cap · market cap 4.97%
Second Best
Mixed Use
$1.84M
$1.61M – $2.15M
NOI $128,902 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$2.60M
$2.28M – $3.03M
NOI $182,040 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story mixed-use building with street-level commercial space and 11 loft-style residential units.
Where is this mixed-use property located?
The property is located at 300-308 West Commercial Street Springfield, MO.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Two‑story mixed‑use building totaling approx. 17,230 SF with street‑level commercial space and 11 loft‑style residential units; Built in 1909 with substantial renovations within the past decade; Mixed‑use setup with commercial space on the street level and residential loft units on the second floor
