Flex Space with Fenced
New
For Sale
$595,000
1637 W College Street, Springfield, MO 65806
Commercial Sale, Springfield, MO
Property Size6,507 SF
Lot Size0.84 Acres
Price / SF$91.44
Days on Market3
Property Features for 1637 W College Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INC
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Fencing
Chain Link, Perimeter
Subdivision
Wood & Ward
Lot features
Level
Directions
From Chestnut Expressway and Kansas Expressway, South to College Street, west to property on the right.
Standard status
Active
APN
1322106041
Lot size
0.84 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Wood & Ward Add Lots 19 20 35 & 36
Tax Annual Amount
4925
Legal Description
Wood & Ward Add Lots 19 20 35 & 36
Utilities
Utilities
Water Available
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Electric
Building Details
Year built
1928
Roof type
Composition, Metal
Listing Agency:
AMAX Real Estate
(417) 855-2333
Listed By:
Lina Robertson · License #2000172379
(417) 844-7265
Added: Sep 23
Changed: Sep 25
Last Checked: Sep 25 at 11:06PM
MLS# 60334723
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 6,507-square-foot flex property on 0.84 acres combines office space with heated shop and warehouse areas. A 12-foot grade-level door provides direct access to the work areas, and the chain-link perimeter fence encloses the outdoor yard. The property is zoned INC and includes two bathrooms.
Located in Springfield, the site has water available. Improvements include a new office furnace and air-conditioning system in 2018, a water heater replaced in 2020, and a shop furnace installed in 2024. The shop and warehouse have metal roofing; the office portion has composition roofing.
Located in Springfield, the site has water available. Improvements include a new office furnace and air-conditioning system in 2018, a water heater replaced in 2020, and a shop furnace installed in 2024. The shop and warehouse have metal roofing; the office portion has composition roofing.
Key Highlights
- 6,507‑square‑foot flex property on 0.84 acres
- Office, heated shop, and warehouse areas
- 12‑foot grade‑level loading door
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office, heated work areas, warehouse space, and a secured outdoor area support a range of business operations.
Where is this flex space located?
The property is located at 1637 W College Street 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 0.84 acres; Office, heated shop, and warehouse areas; 12‑foot grade‑level loading door
