Mixed-Use Property with Detached
1816 S Franklin Avenue, Springfield, MO 65807
For Sale
$585,000
The property combines two commercial spaces with a neighboring residence and detached garages for vehicle storage.
Property Size3,156 SF
Price / SF$185.36
Days on Market590
Property Features for 1816 S Franklin Avenue
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Mixed-Use Components
Additional Details
Real Estate Included
Taxes and HOA fees
Annual Taxes
Amenities
detached garages
Building Details
Building Size
Year Built
Units
Listing Agency:
Alpha Realty MO, LLC
(417) 719-1560
Listed By:
Ryan Stewart · License #2016017272
(417) 818-4215
Source:
Cappyharrisrealtors
Added: Mar 28, 2025
Changed: Nov 6
Last Checked: Nov 7 at 1:59AM
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 Alpha Realty MO, LLC
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Investment Insights
Based on property information with market context.
This mixed-use property comprises two commercial spaces and a residence next to the primary commercial building. Commercial space totals 3,156 square feet, with an additional 850-square-foot home. Detached garages provide enclosed vehicle or storage space, and the front area of the main commercial building has recently received new asphalt paving. The property was built in 1984 and is zoned HC.
Located at 1816 S Franklin Avenue in Springfield, the property sits just off Sunshine and Fort. The three-unit package must be sold together under the stated zoning conditions. Two properties are currently income-producing.
Located at 1816 S Franklin Avenue in Springfield, the property sits just off Sunshine and Fort. The three-unit package must be sold together under the stated zoning conditions. Two properties are currently income-producing.
Key Highlights
- Two commercial spaces and one adjacent residence
- 3,156 square feet of commercial space plus an 850‑square‑foot home
- Detached garages offer additional enclosed vehicle and storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,611
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,220
$472.2K
Cap Rate 7%
$337,300
$337.3K
Cap Rate 9%
$262,344
$262.3K
Market Conditions
NOI Build-Up for 3,156 SF
Gross rent
$39.8K $12.60/SF
− Vacancy
−$2.0K −$0.63/SF
EGI
$37.8K $11.97/SF
− OpEx
−$14.2K −$4.49/SF
NOI
$23.6K $7.48/SF
Area
Springfield, MO
Vacancy
5.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,220
Cap Rate 7%
$337,300
Cap Rate 9%
$262,344
Alternative Uses
Best Use
Mixed Use
$337.3K
$295.1K – $393.5K
NOI $23,611 @ 7.0% cap · market cap 4.04%
Second Best
Retail
$335.5K
$293.6K – $391.5K
NOI $23,487 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$476.3K
$416.8K – $555.7K
NOI $33,344 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
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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
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Market
Properties on Market for Mixed-use properties in Springfield
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines two commercial spaces with a neighboring residence and detached garages for vehicle storage.
Where is this mixed-use property located?
The property is located at 1816 S Franklin Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two commercial spaces and one adjacent residence; 3,156 square feet of commercial space plus an 850‑square‑foot home; Detached garages offer additional enclosed vehicle and storage space
