Flex Space with Fenced
For Sale
$595,000
1637 W College St, Springfield, MO 65806
A mix of office, heated shop, and warehouse areas is paired with a secured outdoor yard.
Property Size6,507 SF
Lot Size0.84 Acres
Price / SF$91.44
Days on Market20
Property Features for 1637 W College St
General Information
Standard status
Active
Size
6,507 SF
Lot size
0.84 Acres
Property subtype
Commercial
Zoning
Industrial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Warehouse Space
2,099 SF
Office Build-Out
1,317 SF
Drive-In Doors
1
Building Details
Year Built
1928
Year Renovated
2026
Buildings
1
Building Size
6,507 SF
Listing Agency:
AMAX Real Estate
Listed By:
Lina Robertson · License #2000172379
(417) 844-7265
Source:
Trilakeshomesearch
Added: Sep 15
Changed: Oct 4
Last Checked: Oct 4 at 2:25PM
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 AMAX Real Estate
Investment Insights
Based on property information with market context.
This 6,507-square-foot flex property on approximately .84 acres combines office space, a heated shop, warehouse and storage areas, and a fenced outdoor yard. The interior includes approximately 1,317 square feet of office space, 2,980 square feet of heated shop space, and 2,099 square feet of warehouse space. A 12-foot grade-level loading door serves the work areas. The office received a new furnace and air conditioning system in 2018, followed by a water heater in 2020. The shop furnace was replaced in 2024, and a new roof was installed over the office portion in July 2026; the shop and warehouse have metal roofing.
Key Highlights
- 6,507‑square‑foot flex property on approximately .84 acres
- Office area of approximately 1,317 square feet
- Heated shop area of approximately 2,980 square feet
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
$25,341
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
4.26%
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%
$506,820
$506.8K
Cap Rate 7%
$362,014
$362.0K
Cap Rate 9%
$281,567
$281.6K
Market Conditions
NOI Build-Up for 6,507 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
$30.5K $4.68/SF
− Vacancy
−$640 −$0.10/SF
EGI
$29.8K $4.58/SF
− OpEx
−$4.5K −$0.69/SF
NOI
$25.3K $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%
$506,820
Cap Rate 7%
$362,014
Cap Rate 9%
$281,567
Alternative Uses
Best Use
Warehouse
$362.0K
$316.8K – $422.4K
NOI $25,341 @ 7.0% cap · market cap 4.26%
Second Best
Industrial
$298.1K
$260.9K – $347.8K
NOI $20,869 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$982.1K
$859.4K – $1.15M
NOI $68,748 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 65806, MO
12,529
Population
8,049
Households
1.6
Avg Household Size
27
Median Age
22%
College-Educated
87%
High-School Grad
2.1 sq mi
ZIP Area
5,966
Density / Sq Mi
$28,450
Median Household Income
$21,090
Median Earnings
$840
Median Rent
$85,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - A mix of office, heated shop, and warehouse areas is paired with a secured outdoor yard.
Where is this flex space located?
The property is located at 1637 W College St Springfield, MO.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 6,507‑square‑foot flex property on approximately .84 acres; Office area of approximately 1,317 square feet; Heated shop area of approximately 2,980 square feet
