Brick Medical Office
For Sale
$850,000
1630 Elfindale Street, Springfield, MO 65807
Leased grade A office building with animal clinic layout, including exam, grooming rooms, and multiple offices.
Property Size4,870 SF
Price / SF$174.54
Days on Market331
Property Features for 1630 Elfindale Street
General Information
Standard status
Active
Size
4,870 SF
Class
A
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$13,173
Amenities
Central Air
3
Metal
City
Building Details
Year Built
1994
Tenancy
Single
Listing Agency:
Primrose
(417) 830-5954
Listed By:
Murney Associates
(417) 830-5954
Source:
Xome
Added: Sep 24, 2025
Changed: Aug 12
Last Checked: Aug 20 at 4:59AM
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 Primrose
Investment Insights
Based on property information with market context.
Grade A, mostly brick office building currently under lease to a long-time veterinary clinic. The interior is arranged with five offices, three exam rooms, two grooming rooms, and three bathrooms. The property has zoned heating in three areas, reflecting the building’s prior configuration as three individual office spaces.
The current tenant has been in place for 10 years, and the lease expires in 2028 with a five-year extension. This offering is presented as a long-term investment tied to the existing clinic tenancy.
The space is designed to support a full animal clinic operation based on the current tenant’s supplied equipment and clinic-specific rooming layout, including dedicated exam and grooming rooms.
The current tenant has been in place for 10 years, and the lease expires in 2028 with a five-year extension. This offering is presented as a long-term investment tied to the existing clinic tenancy.
The space is designed to support a full animal clinic operation based on the current tenant’s supplied equipment and clinic-specific rooming layout, including dedicated exam and grooming rooms.
Key Highlights
- Under lease to a long‑time veterinary clinic for 10 years; tenant equipment included for a full animal clinic
- Lease expires in 2028 with a 5‑year extension
- Animal clinic layout with 5 offices, 3 exam rooms, and 2 grooming rooms
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
$38,590
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
4.54%
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%
$771,800
$771.8K
Cap Rate 7%
$551,286
$551.3K
Cap Rate 9%
$428,778
$428.8K
Market Conditions
NOI Build-Up for 4,870 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
$53.8K $11.04/SF
− Vacancy
−$2.3K −$0.47/SF
EGI
$51.5K $10.57/SF
− OpEx
−$12.9K −$2.64/SF
NOI
$38.6K $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%
$771,800
Cap Rate 7%
$551,286
Cap Rate 9%
$428,778
Alternative Uses
Best Use
Office B
$551.3K
$482.4K – $643.2K
NOI $38,590 @ 7.0% cap · market cap 4.54%
Second Best
Healthcare Medical
$551.3K
$482.4K – $643.2K
NOI $38,590 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$735.0K
$643.2K – $857.6K
NOI $51,453 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
417
Businesses Nearby
Explore this area
Business Placement
Demographics for 65807, MO
55,168
Population
28,546
Households
1.9
Avg Household Size
36
Median Age
33%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
2,627
Density / Sq Mi
$50,271
Median Household Income
$33,510
Median Earnings
$994
Median Rent
$174,000
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 building - Leased grade A office building with animal clinic layout, including exam, grooming rooms, and multiple offices.
Where is this office building located?
The property is located at 1630 Elfindale Street Springfield, MO.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Under lease to a long‑time veterinary clinic for 10 years; tenant equipment included for a full animal clinic; Lease expires in 2028 with a 5‑year extension; Animal clinic layout with 5 offices, 3 exam rooms, and 2 grooming rooms
