Freestanding Office Building Near Medical
For Sale
$2,000,000
1335 E Bradford Pkwy, Springfield, MO 65804
Freestanding office building near Medical Mile in Southeast Springfield.
Property Size7,652 SF
Price / SF$261.37
Days on Market112
Property Features for 1335 E Bradford Pkwy
General Information
Standard status
Active
Size
7,652 SF
Class
A
Property subtype
Office
Building Details
Building Size
7,652 SF
Year Built
2001
Listing Agency:
SVN | Rankin Company
(417) 818-8894
Listed By:
Lee McLean III, SIOR, CCIM
(417) 818-8894
Source:
Svn
Added: May 14
Changed: Aug 31
Last Checked: Sep 1 at 5:09PM
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
Investment Insights
Based on property information with market context.
This freestanding office building is located near the Medical Mile in Southeast Springfield. The property features a mix of private offices and an open work area. Renovations were completed in 2020, and a new roof and new restrooms have been installed. An agreement with an adjacent property provides abundant parking. The office is situated off of Fremont and Primrose, in an area with many professional and medical offices, including the Cox Health campus, Burrell Behavioral Health, Springfield Board of Realtors, Morgan Stanley Advisors, and Murney Associates. The property is also near Immaculate Conception Church, McAlister's Deli, Neighbor's Mill, Koriya, Arris Pizza, and other local and national retailers. The building size is 7652 square feet.
Key Highlights
- Freestanding office building.
- Abundant parking due to parking agreement with adjacent property.
- Located near the Medical Mile in Southeast Springfield.
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
$60,634
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
3.03%
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%
$1,212,680
$1.2M
Cap Rate 7%
$866,200
$866.2K
Cap Rate 9%
$673,711
$673.7K
Market Conditions
NOI Build-Up for 7,652 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
$84.5K $11.04/SF
− Vacancy
−$3.6K −$0.47/SF
EGI
$80.8K $10.57/SF
− OpEx
−$20.2K −$2.64/SF
NOI
$60.6K $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%
$1,212,680
Cap Rate 7%
$866,200
Cap Rate 9%
$673,711
Alternative Uses
Best Use
Office B
$866.2K
$757.9K – $1.01M
NOI $60,634 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,846 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,135
Businesses Nearby
Explore this area
Business Placement
Demographics for 65804, MO
40,064
Population
20,118
Households
2
Avg Household Size
40
Median Age
42%
College-Educated
97%
High-School Grad
18.6 sq mi
ZIP Area
2,154
Density / Sq Mi
$58,288
Median Household Income
$40,103
Median Earnings
$898
Median Rent
$227,000
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 - Freestanding office building near Medical Mile in Southeast Springfield.
Where is this office building located?
The property is located at 1335 E Bradford Pkwy Springfield, MO.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Freestanding office building.; Abundant parking due to parking agreement with adjacent property.; Located near the Medical Mile in Southeast Springfield.
