Building Details

Building Size 4,046 SF

Year Built 1982

Listing Agency: Keller Williams

Listed By: Justin Johnson · License #2021044266 Show Phone

Source: Tolbertrealtors

Added: Mar 31 Changed: Nov 1 Last Checked: Nov 1 at 4:10PM

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Investment Insights

Based on property information with market context.

This 0.63-acre mixed-use property in Springfield includes an office/retail building and 8 one-bedroom units. Built in 1982, the property has flat terrain, fencing along two sides, and access from two curb cuts. Three-phase power and other utilities are available at the site.

The parcel is at the corner of Kearney Street and Delaware Avenue, with frontage on Kearney Street. The listing reports traffic exceeding 20,000 vehicles per day on Kearney Street and places the property a short distance from the Kearney and Glenstone intersection.

Key Highlights

• Office/retail building with 8 one‑bedroom units
• 0.63‑acre parcel with Kearney Street frontage
• Three‑phase power and other utilities available

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,708

Cap Rate

3.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$654,160 $654.2K

Cap Rate 7%

$467,257 $467.3K

Cap Rate 9%

$363,422 $363.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,046 SF

Gross rent

$63.6K $15.72/SF

− Vacancy

−$4.1K −$1.02/SF

EGI

$59.5K $14.70/SF

− OpEx

−$26.8K −$6.61/SF

NOI

$32.7K $8.08/SF

Area

Springfield, MO

Vacancy

6.50%

Lease Rate

$15.72 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$654,160

Cap Rate 7%

$467,257

Cap Rate 9%

$363,422

Alternative Uses

Best Use

Apartment 5plus

$467.3K

$408.9K – $545.1K (±1% cap)

NOI $32,708 @ 7.0% cap · market cap 3.44%

Second Best

Mixed Use

$432.4K

$378.4K – $504.5K (±1% cap)

NOI $30,269 @ 7.0% cap · market cap 3.19%

Theoretical Best

Office A

$610.7K

$534.3K – $712.5K (±1% cap)

NOI $42,747 @ 7.0% cap · market cap 4.50%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Morgan's Auto Sales Car Dealership

Suggested Use

Top Pick Real Estate Agency Law Firm Electrical Service Nail Salon Skin Care Clinic Parking Lot & Garage

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

Lease Details

8

Residential units

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

600

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 Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Eight one-bedroom units accompany the commercial building on a 0.63-acre parcel.

Where is this mixed-use property located?

The property is located at 1534 E Kearney Street Springfield, MO.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: Office/retail building with 8 one‑bedroom units; 0.63‑acre parcel with Kearney Street frontage; Three‑phase power and other utilities available