Building Details

Building Size 71,599 SF

Year Built 1997

Properties For Sale

at 1515 W Division St

35,500 SF for Lease

Size 35,500 SF

Lease Type NNN

Contact us

Listing Agency: SVN | Rankin Co

Listed By: Jack Rankin · License #2018038830 Show Phone

Source: Thebrokerlist

Added: Mar 26 Changed: Oct 11 Last Checked: Oct 14 at 7:36PM

Report an Issue

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 Co

Investment Insights

Based on property information with market context.

This 71,599 SF warehouse is available for sale in Northwest Springfield, Missouri. Approximately 35,500 SF is occupied by a tenant with a new 10-year lease signed in November 2023. The remaining half of the building is a vacant warehouse, presenting a value-add opportunity for an owner-user or investor. The property is located at the northeast corner of Division Street and N Kansas Expressway in Northwest Springfield, with a combined traffic count of over 39,000 vehicles per day. Neighboring businesses and institutions include O'Rielly Auto Parts, City Utilities, Paul Mueller Company, Carsten Auto Glass, and the Greene County Highway Department.

Key Highlights

• 71,599 SF warehouse with income potential.
• +\/- 35,500 SF leased to a credit‑worthy tenant with a new 10‑year lease (signed Nov 2023).
• Value‑add opportunity with vacant +\/- 36,099 SF warehouse space.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$229,633

Cap Rate

8.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,592,660 $4.6M

Cap Rate 7%

$3,280,471 $3.3M

Cap Rate 9%

$2,551,478 $2.6M

Market Conditions

NOI Build-Up for 71,599 SF

Gross rent

$335.1K $4.68/SF

− Vacancy

−$7.0K −$0.10/SF

EGI

$328.0K $4.58/SF

− OpEx

−$98.4K −$1.37/SF

NOI

$229.6K $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 Rate 5%

$4,592,660

Cap Rate 7%

$3,280,471

Cap Rate 9%

$2,551,478

Alternative Uses

Best Use

Warehouse

$3.98M

$3.49M – $4.65M (±1% cap)

NOI $278,840 @ 7.0% cap · market cap 10.05%

Second Best

Industrial

$3.28M

$2.87M – $3.83M (±1% cap)

NOI $229,633 @ 7.0% cap · market cap 8.28%

Theoretical Best

Office A

$10.81M

$9.46M – $12.61M (±1% cap)

NOI $756,463 @ 7.0% cap · market cap 27.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Home Outlet Building Supply

Suggested Use

Top Pick Real Estate Agency Restaurant Dental Office Law Firm Spa & Massage Center Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

235

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 65802, MO

48,233

Population

20,199

Households

2.4

Avg Household Size

35

Median Age

26%

College-Educated

89%

High-School Grad

61.4 sq mi

ZIP Area

786

Density / Sq Mi

$51,080

Median Household Income

$34,298

Median Earnings

$900

Median Rent

$162,400

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Warehouse Complex

3001 E Pythian Street, Springfield, MO 65802

$1,900,000

2.00 Acres

View details

Industrial Warehouse and Office Facility

2750 N Barnes Ave, Springfield, MO 65803

Contact for pricing

77,608 SF

View details

Office/Warehouse Building on Large Lot

3038 W Kearney St, Springfield, MO 65803

$2,800,000

14,400 SF

View details

Manufacturing/Warehouse Building on Kansas Expressway

631 S Kansas Ave, Springfield, MO 65802

$2,000,000

18,215 SF

View details

Floorcovering Retail Space With Warehouse

3560 E Evergreen St, Springfield, MO 65803

$3,654,000

View details

Remodeled Flex Industrial Building

820 N Cedarbrook Ave, Springfield, MO 65802

Contact for pricing

40,704 SF

View details

Flex Space Building

509 S Union Ave, Springfield, MO 65802

$1,200,000

9,596 SF

View details

Dock-Loaded Warehouse Property

300 E Chestnut Street, Springfield, MO 65806

$995,000

0.30 Acres

View details

Drive-Up Self-Storage Facility

217 Haseltine Road, Springfield, MO 65802

Contact for pricing

34,970 SF

View details

12-Bay Auto Repair Shop

2140 W Sunset Street, Springfield, MO 65807

$1,200,000

1.05 Acres

View details

Flex Space with Fenced Yard

1637 W College St, Springfield, MO 65806

$595,000

6,507 SF

View details

Flex Space with Loading Dock

1430 W Kearney Street, Springfield, MO 65803

$600,000

0.46 Acres

View details

Similar Off Market Nearby

• ACCESS RV & BOAT STORAGE — 1819 W Division St, Springfield, MO 65802
• Pack-N-Stack Mini Storage of Springfield - Commercial St — 628 W Chase St, Springfield, MO 65803

Frequently Asked Questions

What type of property is this?

Warehouse - 71,599 SF warehouse with tenant and value-add opportunity.

Where is this warehouse located?

The property is located at 1515 W Division St Springfield, MO.

What is the asking price?

The asking price for this property is $2,775,000.

What are key features of this property?

This property features: 71,599 SF warehouse with income potential.; +\/- 35,500 SF leased to a credit‑worthy tenant with a new 10‑year lease (signed Nov 2023).; Value‑add opportunity with vacant +\/- 36,099 SF warehouse space.