Storefront Building with
For Sale
$357,500
504 W Kearney Street, Springfield, MO 65803
Concrete block commercial building with showroom, office, service areas, storage, and drive-in access.
Property Size6,039 SF
Price / SF$59.20
Days on Market788
Property Features for 504 W Kearney Street
General Information
Standard status
Active
Size
6,039 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$3,396
Amenities
Central Air, Electric
3
Flat
Paved Driveway, Carport.
City
.46
Out Building, Sidewalks.
Building Details
Year Built
1970
Listing Agency:
Primrose
(417) 823-2300
Listed By:
Murney Associates
(417) 823-2300
Source:
Xome
Added: Jul 4, 2024
Changed: Aug 29
Last Checked: Aug 30 at 1:36PM
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 Primrose
Investment Insights
Based on property information with market context.
This 6,039-square-foot concrete block storefront property, built in 1970, combines customer-facing and back-of-house space in one commercial building. The interior includes a large showroom, office, three bathrooms, a workroom, extensive storage, and an oversized warehouse area with a one-car garage and drive-in door. Central air and electric service are listed among the interior features.
The property fronts W Kearney Street and includes paved access, a carport, sidewalks, ample parking, and a large timed illuminated sign positioned at the street. The site measures .46 acres and also includes an outbuilding. The building was previously configured for florist operations with an attached greenhouse; the greenhouse area is currently used for storage.
The property fronts W Kearney Street and includes paved access, a carport, sidewalks, ample parking, and a large timed illuminated sign positioned at the street. The site measures .46 acres and also includes an outbuilding. The building was previously configured for florist operations with an attached greenhouse; the greenhouse area is currently used for storage.
Key Highlights
- 6,039 SF concrete block storefront building built in 1970
- W Kearney Street frontage with large timed illuminated street sign
- Showroom, office, workroom, 3 bathrooms, and extensive storage
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
$23,519
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
6.58%
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%
$470,380
$470.4K
Cap Rate 7%
$335,986
$336.0K
Cap Rate 9%
$261,322
$261.3K
Market Conditions
NOI Build-Up for 6,039 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
$28.3K $4.68/SF
− Vacancy
−$594 −$0.10/SF
EGI
$27.7K $4.58/SF
− OpEx
−$4.2K −$0.69/SF
NOI
$23.5K $3.89/SF
Area
Springfield, MO
Vacancy
2.10%
Lease Rate
$4.68 /SF/Yr
Expense Ratio
15.00%
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%
$470,380
Cap Rate 7%
$335,986
Cap Rate 9%
$261,322
Alternative Uses
Best Use
Retail
$642.0K
$561.8K – $749.1K
NOI $44,943 @ 7.0% cap · market cap 12.57%
Second Best
Warehouse
$336.0K
$294.0K – $392.0K
NOI $23,519 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$911.5K
$797.6K – $1.06M
NOI $63,804 @ 7.0% cap · market cap 17.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Flora & Forge — 215 W Commercial St, Springfield, MO 65803
Frequently Asked Questions
What type of property is this?
Storefront property - Concrete block commercial building with showroom, office, service areas, storage, and drive-in access.
Where is this storefront property located?
The property is located at 504 W Kearney Street Springfield, MO.
What is the asking price?
The asking price for this property is $357,500.
What are key features of this property?
This property features: 6,039 SF concrete block storefront building built in 1970; W Kearney Street frontage with large timed illuminated street sign; Showroom, office, workroom, 3 bathrooms, and extensive storage
