Office Condominium Suite with Conference
For Sale
$490,000
1531 E Bradford Parkway, Springfield, MO 65804
Commercial Sale, Springfield, MO
Property Size1,942 SF
Price / SF$252.32
Days on Market207
Property Features for 1531 E Bradford Parkway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Office
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 5, Bathroom 2, Bathroom 4, Bathroom 6, Bathroom 1, Bathroom 3
Parking
41000
Parking features
Carport
Subdivision
Primrose Park
Lot features
Sidewalk(s), Level, Surveyed
View
City
Directions
From South Fremont Avenue, East on Bradford Parkway to building at 1531 E Bradford. Enter main loby and take elevator to 3rd floor to Unit 300.
Standard status
Active
APN
88-19-07-101-310
Taxes and HOA fees
Tax Year
2025
Tax Description
BRADFORD PLACE OFFICE CONDOMINIUM UNIT 300
Tax Annual Amount
6774
Legal Description
BRADFORD PLACE OFFICE CONDOMINIUM UNIT 300
Utilities
Utilities
Water Available
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Zoned, Electric, Central Air
Building Details
Year built
2002
Number of units
1
Roof type
Composition
Listing Agency:
Murney Associates - Primrose
(417) 823-2300
Listed By:
Donna Cleous · License #1999012026
(417) 823-2300
Added: Jan 29
Changed: Aug 19
Last Checked: Aug 24 at 7:06AM
MLS# 60314305
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.
Investment Insights
Based on property information with market context.
This office condominium suite within the Bradford Place Office Condominiums offers approximately 1,942 square feet of furnished, professionally designed space. Guests are welcomed by a generously sized reception and greeting area that can also serve as a showcase or display zone, with a built-in desk and an adjacent coffee bar/bistro lounge. The suite includes three expansive executive offices, a dedicated conference room, and a spacious copy/work room with abundant cabinetry and storage, supported by architectural details throughout.
Interior features include slate flooring, soaring ceilings with exposed wood beams, distinctive designer lighting, and large windows that bring in natural light. The property is fully ADA-compliant and heated and cooled with electric heating/heat pump and zoned central air. A carport is available for parking, and the roof is composition.
Built in 2002, the suite is vacant and available for immediate occupancy, providing convenient access to the James River Freeway and the established Springfield office district.
Interior features include slate flooring, soaring ceilings with exposed wood beams, distinctive designer lighting, and large windows that bring in natural light. The property is fully ADA-compliant and heated and cooled with electric heating/heat pump and zoned central air. A carport is available for parking, and the roof is composition.
Built in 2002, the suite is vacant and available for immediate occupancy, providing convenient access to the James River Freeway and the established Springfield office district.
Key Highlights
- Approximately 1,942 SF furnished office condominium suite
- Reception with built‑in desk plus adjacent coffee bar/bistro lounge
- Three executive offices and a dedicated conference room
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
$15,388
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
3.14%
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%
$307,760
$307.8K
Cap Rate 7%
$219,829
$219.8K
Cap Rate 9%
$170,978
$171.0K
Market Conditions
NOI Build-Up for 1,942 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
$21.4K $11.04/SF
− Vacancy
−$922 −$0.47/SF
EGI
$20.5K $10.57/SF
− OpEx
−$5.1K −$2.64/SF
NOI
$15.4K $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%
$307,760
Cap Rate 7%
$219,829
Cap Rate 9%
$170,978
Alternative Uses
Best Use
Office B
$219.8K
$192.4K – $256.5K
NOI $15,388 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$293.1K
$256.5K – $342.0K
NOI $20,518 @ 7.0% cap · market cap 4.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,510
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 units - Vacant, ADA-compliant office condo suite with a dedicated conference room and furnished reception in the Bradford Place community.
Where is this office units located?
The property is located at 1531 E Bradford Parkway Springfield, MO.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Approximately 1,942 SF furnished office condominium suite; Reception with built‑in desk plus adjacent coffee bar/bistro lounge; Three executive offices and a dedicated conference room
