Class A Office Investment with NNN
1515-1527 E Lark, Springfield, MO 65804
For Sale
Contact for pricing
Pending
Two-building Class A office investment leased to four tenants on long-term NNN terms.
Property Size20,883 SF
Days on Market185
Property Features for 1515-1527 E Lark
General Information
Standard status
Size
Class
Property subtype
Site & Location
Neighborhood
Building Details
Buildings
Tenancy
Listing Agency:
SVN | Rankin Company, LLC
(417) 887-8826
Listed By:
Jack Rankin · License MO #2018038830
(417) 860-9951
Source:
Moodyscre
Added: May 13
Changed: Nov 3
Last Checked: Nov 12 at 9:45AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Class A office investment for sale featuring a total of 20,883 SF across two buildings. The property is currently occupied by four tenants, with each tenant on a long-term NNN lease structure.
Located at 1515-1527 E Lark Street in Springfield, MO 65804, the asset offers an ownership opportunity centered on stabilized occupancy under NNN terms.
The multi-tenant configuration and long-term lease structure are key considerations for buyers evaluating an office income property in a two-building setup.
Located at 1515-1527 E Lark Street in Springfield, MO 65804, the asset offers an ownership opportunity centered on stabilized occupancy under NNN terms.
The multi-tenant configuration and long-term lease structure are key considerations for buyers evaluating an office income property in a two-building setup.
Key Highlights
- 20,883 SF across two office buildings
- Four tenants total
- Each tenant on a long‑term NNN lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$165,476
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,309,520
$3.3M
Cap Rate 7%
$2,363,943
$2.4M
Cap Rate 9%
$1,838,622
$1.8M
Market Conditions
NOI Build-Up for 20,883 SF
Gross rent
$230.5K $11.04/SF
− Vacancy
−$9.9K −$0.47/SF
EGI
$220.6K $10.57/SF
− OpEx
−$55.2K −$2.64/SF
NOI
$165.5K $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 Rate 5%
$3,309,520
Cap Rate 7%
$2,363,943
Cap Rate 9%
$1,838,622
Alternative Uses
Best Use
Office B
$2.36M
$2.07M – $2.76M
NOI $165,476 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.15M
$2.76M – $3.68M
NOI $220,635 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,321
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
$227,000
Median Home Value
Market
Average Price Trend$/SF for Office buildings in Springfield, MO
Properties on Market for Office buildings in Springfield
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Two-building Class A office investment leased to four tenants on long-term NNN terms.
Where is this office building located?
The property is located at 1515-1527 E Lark 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: 20,883 SF across two office buildings; Four tenants total; Each tenant on a long‑term NNN lease
