Mixed-Use Property with Detached
For Sale
$585,000
1816 S Franklin Avenue, Springfield, MO 65807
COMMERCIAL - Springfield, MO
Property Size3,156 SF
Lot Size0.42 Acres
Price / SF$185.36
Days on Market515
Property Features for 1816 S Franklin Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HC
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Garage - Detached
Fencing
Chain Link, Perimeter
Subdivision
Highland Terr
Lot features
Level
Directions
At Kansas and Sunshine travel East to Franklin then turn Right. Business is on the left and Additional Comm space is directly behind the primary. Residential home is to the right of the primary comm space.
Standard status
Active
APN
1335204027
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
HIGHLAND TERR LOT 6 7 & 27 BLK C
Tax Annual Amount
2543
Legal Description
HIGHLAND TERR LOT 6 7 & 27 BLK C
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Electric, Central Air
Amenities
newly paved asphalt
detached garages
bay doors
Building Details
Year built
1984
Number of units
2
Listing Agency:
Alpha Realty MO, LLC
(417) 719-1560
Listed By:
Ryan Stewart · License #2016017272
(417) 818-4215
Added: Mar 28, 2025
Changed: Aug 18
Last Checked: Aug 24 at 4:06AM
MLS# 60290355
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 HC-zoned mixed-use property includes three units: two commercial spaces and a neighboring residential home. The commercial component totals 3,156 square feet, while the residence provides 850 square feet. Detached garages add secure storage for vehicles, equipment, or business inventory, and the site has chain-link perimeter fencing. Commercial areas are served by natural gas and forced-air heating, along with electric central air conditioning.
The 0.42-acre property at 1816 S Franklin Avenue is near Bass Pro and just off Sunshine and Fort. The primary commercial area has a recently paved asphalt frontage area that supports customer and vehicle access. Two of the three units are currently income producing, and the full package is required to transfer together because of the zoning.
The 0.42-acre property at 1816 S Franklin Avenue is near Bass Pro and just off Sunshine and Fort. The primary commercial area has a recently paved asphalt frontage area that supports customer and vehicle access. Two of the three units are currently income producing, and the full package is required to transfer together because of the zoning.
Key Highlights
- Three‑unit configuration with two commercial spaces and one residential home
- 3,156 SF of total commercial space plus 850 SF of residential space
- 0.42‑acre HC‑zoned mixed‑use property
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
$23,611
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
4.04%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
531
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-unit package combines commercial workspace, a residence, vehicle storage, and HC zoning.
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: Three‑unit configuration with two commercial spaces and one residential home; 3,156 SF of total commercial space plus 850 SF of residential space; 0.42‑acre HC‑zoned mixed‑use property
