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    Free-Standing Work-Live Office Space Title is generated by Realmo AI

    1348 E Cherry Street, Springfield, MO 65802

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    For Lease
    $2,500/Mo $11 SF/Yr (calc)

    COMMERCIAL - Springfield, MO

    Type:Office
    Property size:
    2,516 SF
    Lot size:
    0.47 Acres
    Added:
    Jun 3, 2025
    Days on Market:
    351
    Last Refresh:
    May 19 at 4:06 am

    Property Features for 1348 E Cherry Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    UCD -D
    Bathrooms
    3
    Rooms
    Bathroom 3, Bathroom 1, Bathroom 2
    Parking features
    Garage - Detached
    Standard status
    Active
    APN
    1219301029
    Size
    2,516 SF
    Lot size
    0.47 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    ZOBETH ADD LOTS 1 & 2
    Tax Annual Amount
    2109

    Utilities

    Utilities
    Water Available
    Heating system
    Natural Gas, Oil
    Cooling system
    Electric, Window Unit(s)

    Building Details

    Year built
    1904
    Roof type
    Composition

    We can help!

    Listing Contact
    Mark Kerivan
    Mark Kerivan

    Listing agent Mark Kerivan License #1999066513

    Listing office Murney Associates - Primrose 1625 E. Primrose, Springfield, MO

    Listing date Jun 3, 2025

    MLS# 60296122

    Copyright © 2026 Southern Missouri Regional MLS, LLC (SOMO). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Free‑standing building in desirable 'Roundtree UCD‑D' area, ideal for work/live.
    • UCD‑D zoning permits both working and living environments for almost all professions.
    • 2,516 sf m/l with main floor office space and upper floor with 4 offices/bedrooms.
    • Expansive wrap‑around front porch (ADA access) and large rear deck.
    • Includes 2‑car garage and full unfinished basement with restroom.
    • Modified Gross Lease: Landlord covers property taxes, building insurance, and exterior maintenance.

    Overview

    This all-brick, free-standing building offers an ideal work-live opportunity in the Roundtree UCD-D area. The building has 2,516 square feet, with 1,412 square feet on the main floor and 1,104 square feet on the upper floor. The main floor features a large entry with a reception/waiting area, a conference room or collaborative space, a kitchen break room, and a restroom. The upper floor includes four offices/bedrooms and one full restroom. There is also a full unfinished basement with a restroom. The property includes an expansive wrap-around front porch with ADA access, a large rear deck for outside meetings, a large rear yard for exercise or gatherings, and a two-car garage. Situated on a 0.47-acre lot, this UCD-D zoned property permits both working and living environments for almost all professions. The monthly rent is $2,500 with a modified gross lease. The landlord covers property real estate taxes, building shell insurance, and exterior maintenance. The tenant is responsible for general liability insurance, utilities, janitorial services, interior maintenance, and any increases in property taxes or building shell insurance after the base year. The property is located in Springfield, MO.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.271854
    Latitude
    37.203466

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    FAQs

    What type of property is this?
    Live-work space - Work-live space in Roundtree area with flexible layout.
    Where is this live-work space located?
    The property is located at 1348 E Cherry Street Springfield, MO.
    What is the lease rate?
    The lease rate is $2,500 /Mo.
    What are key features of this property?
    This property features: Free‑standing building in desirable 'Roundtree UCD‑D' area, ideal for work/live.; UCD‑D zoning permits both working and living environments for almost all professions.; 2,516 sf m/l with main floor office space and upper floor with 4 offices/bedrooms.
    (417) 823-2300
    We can help!
    Listing Contact
    Mark Kerivan
    Mark Kerivan
    Real Estate License ID: 1999066513
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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