Two-Unit Flex Space
New
For Sale
$389,000
1625 N Campbell Avenue, Springfield, MO 65803
Commercial Sale, Springfield, MO
Property Size5,518 SF
Lot Size0.49 Acres
Price / SF$70.50
Days on Market1
Property Features for 1625 N Campbell Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INC
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking features
On Street
Fencing
Barbed Wire, Chain Link
View
City
Directions
From Kansas Expressway, travel east on Commercial Street. Turn left onto N. Campbell Avenue. Property is just north of Commercial Street.
Standard status
Active
APN
1311427025
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
NORTH SPRINGFIELD O P LOT 3 & N 38 FT LOT 4 BLK 13 & BEG NE COR LOT 3 N 16 FTW 130 FT S 16 FT E TO BEG
Tax Annual Amount
3255
Legal Description
NORTH SPRINGFIELD O P LOT 3 & N 38 FT LOT 4 BLK 13 & BEG NE COR LOT 3 N 16 FTW 130 FT S 16 FT E TO BEG
Utilities
Utilities
Water Available
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Electric
Building Details
Year built
1946
Number of units
2
Roof type
Tar/Gravel, Rubber, Flat
Listing Agency:
Smith Realty
(417) 986-7917
Listed By:
Genevieve H. Henry
(417) 861-0266
Added: Sep 3
Last Checked: Sep 3 at 5:06PM
MLS# 60332961
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 flex space property contains two separately addressed commercial units on approximately 0.49 acres at 1625 N Campbell Avenue. Built in 1946, the property includes rear overhead-door access for both units, a shared security-fenced rear area with double-gate entry, and additional side-lot area. The 1623 unit offers an open layout and an ADA-accessible bathroom. The 1625 unit provides multiple office or work areas, two restrooms, and dedicated rear storage. Both units are currently occupied under stated lease terms extending through July 2027.
The property is zoned INC and is located south of Historic Commercial Street, with access to Downtown Springfield, Division Street, Kansas Expressway, and Interstate 44. Street parking is available along N Campbell Avenue, the rear lot, and the alleyway; no designated parking spaces are included. The parcel is within Opportunity Zone Census Tract 29077000600, subject to applicable qualification requirements.
The property is zoned INC and is located south of Historic Commercial Street, with access to Downtown Springfield, Division Street, Kansas Expressway, and Interstate 44. Street parking is available along N Campbell Avenue, the rear lot, and the alleyway; no designated parking spaces are included. The parcel is within Opportunity Zone Census Tract 29077000600, subject to applicable qualification requirements.
Key Highlights
- Two separately addressed commercial units, both tenant‑occupied with lease terms stated through July 2027
- Approximately 0.49 acres with additional side‑lot area
- INC zoning and Opportunity Zone Census Tract 29077000600
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
$21,490
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
5.52%
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%
$429,800
$429.8K
Cap Rate 7%
$307,000
$307.0K
Cap Rate 9%
$238,778
$238.8K
Market Conditions
NOI Build-Up for 5,518 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
$25.8K $4.68/SF
− Vacancy
−$542 −$0.10/SF
EGI
$25.3K $4.58/SF
− OpEx
−$3.8K −$0.69/SF
NOI
$21.5K $3.89/SF
Area
Springfield, MO
Vacancy
2.10%
Lease Rate
$4.68 /SF/Yr
Expense Ratio
15.00%
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%
$429,800
Cap Rate 7%
$307,000
Cap Rate 9%
$238,778
Alternative Uses
Best Use
Office B
$624.6K
$546.6K – $728.7K
NOI $43,724 @ 7.0% cap · market cap 11.24%
Second Best
Warehouse
$307.0K
$268.6K – $358.2K
NOI $21,490 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$832.8K
$728.7K – $971.7K
NOI $58,299 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
940
Businesses Nearby
Under-served
Demand for This Use
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Tenant-occupied flex space with separate commercial units, rear overhead-door access, and a security-fenced service area.
Where is this flex space located?
The property is located at 1625 N Campbell Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Two separately addressed commercial units, both tenant‑occupied with lease terms stated through July 2027; Approximately 0.49 acres with additional side‑lot area; INC zoning and Opportunity Zone Census Tract 29077000600
