Multi-Building Gas Station
For Sale
$2,100,000
1450 N West Byp, Springfield, MO 65803
Tenant-occupied commercial site with fuel pumps, garage bays, office areas, and an additional operating-business building.
Property Size35,000 SF
Lot Size4.74 Acres
Price / SF$60
Days on Market120
Property Features for 1450 N West Byp
General Information
Standard status
Active
Size
35,000 SF
Lot size
4.74 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$34,823
Building Details
Buildings
3
Listing Agency:
Keller Williams
(417) 479-0257
Listed By:
Holt Homes Group · License #2008011324
(417) 479-0257
Source:
Exprealty
Added: May 4
Changed: Aug 30
Last Checked: Aug 30 at 10:49PM
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 Keller Williams
Investment Insights
Based on property information with market context.
This 4.74-acre commercial property includes three buildings totaling over 35,000 square feet. The site features an operating gas station with pumps in place, an L-shaped structure containing multiple garage bays and individual office spaces, and a separate large building occupied by an operating business. All three buildings are tenant-occupied.
The property occupies the corner of West Bypass and Division at 1450 N West Byp in Springfield, Missouri. It offers road frontage and access to I-44, with the site positioned on the west side of Springfield. The combination of fuel-service improvements, automotive-oriented garage space, office areas, and additional occupied building space creates a varied commercial configuration within one property.
The property occupies the corner of West Bypass and Division at 1450 N West Byp in Springfield, Missouri. It offers road frontage and access to I-44, with the site positioned on the west side of Springfield. The combination of fuel-service improvements, automotive-oriented garage space, office areas, and additional occupied building space creates a varied commercial configuration within one property.
Key Highlights
- 4.74‑acre property at the corner of West Bypass and Division
- Three buildings totaling over 35,000 square feet
- Operating gas station with pumps in place
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
$112,252
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
5.35%
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%
$2,245,040
$2.2M
Cap Rate 7%
$1,603,600
$1.6M
Cap Rate 9%
$1,247,244
$1.2M
Market Conditions
NOI Build-Up for 35,000 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
$163.8K $4.68/SF
− Vacancy
−$3.4K −$0.10/SF
EGI
$160.4K $4.58/SF
− OpEx
−$48.1K −$1.37/SF
NOI
$112.3K $3.21/SF
Area
Springfield, MO
Vacancy
2.10%
Lease Rate
$4.68 /SF/Yr
Expense Ratio
30.00%
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%
$2,245,040
Cap Rate 7%
$1,603,600
Cap Rate 9%
$1,247,244
Alternative Uses
Best Use
Specialty Retail
$3.99M
$3.49M – $4.65M
NOI $279,077 @ 7.0% cap · market cap 13.29%
Second Best
Retail
$3.72M
$3.26M – $4.34M
NOI $260,472 @ 7.0% cap · market cap 12.40%
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,785 @ 7.0% cap · market cap 17.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
129
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Tenant-occupied commercial site with fuel pumps, garage bays, office areas, and an additional operating-business building.
Where is this gas station located?
The property is located at 1450 N West Byp Springfield, MO.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 4.74‑acre property at the corner of West Bypass and Division; Three buildings totaling over 35,000 square feet; Operating gas station with pumps in place
