Freestanding Office
New
For Sale
$900,000
1838 E Bennett Street, Springfield, MO 65804
Commercial Sale, Springfield, MO
Property Size5,500 SF
Lot Size0.46 Acres
Price / SF$163.64
Days on Market3
Property Features for 1838 E Bennett Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
INC
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Subdivision
Esterles
Directions
From Glenstone and Bennett, East on Bennett to property on south side of street.
Standard status
Active
APN
1229304026
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Esterles Sub Lot 3 (Ex New R/W) & All Lot 4
Tax Annual Amount
6518
Legal Description
Esterles Sub Lot 3 (Ex New R/W) & All Lot 4
Amenities
gym
conference rooms
Building Details
Year built
1951
Listing Agency:
Murney Associates - Primrose
(417) 823-2300
Listed By:
Matt M Miller · License #MO 2004020753
(417) 576-3846
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 2:06PM
MLS# 60335471
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 freestanding office building contains approximately 5,500 square feet, with 12 private offices, multiple conference rooms, and a reception area. A separate executive suite includes two offices, a full en-suite bathroom, and its own administrative reception area. The lower level has a gym equipped with free weights, cardio equipment, and a sauna. Multiple employee access points provide separate entry options. The property was built in 1951 and is zoned INC.
The 0.46-acre property is located on E Bennett Street in Springfield, Missouri. Select existing furniture, fixtures, and equipment may be included in a sale.
The 0.46-acre property is located on E Bennett Street in Springfield, Missouri. Select existing furniture, fixtures, and equipment may be included in a sale.
Key Highlights
- Approximately 5,500 square feet with 12 private offices
- Executive suite includes two offices, a full en‑suite bathroom, and a separate reception area
- Lower‑level gym has free weights, cardio equipment, and a sauna
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
$43,582
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
4.84%
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%
$871,640
$871.6K
Cap Rate 7%
$622,600
$622.6K
Cap Rate 9%
$484,244
$484.2K
Market Conditions
NOI Build-Up for 5,500 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
$60.7K $11.04/SF
− Vacancy
−$2.6K −$0.47/SF
EGI
$58.1K $10.57/SF
− OpEx
−$14.5K −$2.64/SF
NOI
$43.6K $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%
$871,640
Cap Rate 7%
$622,600
Cap Rate 9%
$484,244
Alternative Uses
Best Use
Office B
$622.6K
$544.8K – $726.4K
NOI $43,582 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$830.1K
$726.4K – $968.5K
NOI $58,109 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 65804, MO
40,064
Population
20,118
Households
2
Avg Household Size
40
Median Age
42%
College-Educated
97%
High-School Grad
18.6 sq mi
ZIP Area
2,154
Density / Sq Mi
$58,288
Median Household Income
$40,103
Median Earnings
$898
Median Rent
$227,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - A multi-office layout includes conference rooms, a private executive suite, and a lower-level gym.
Where is this office building located?
The property is located at 1838 E Bennett Street Springfield, MO.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Approximately 5,500 square feet with 12 private offices; Executive suite includes two offices, a full en‑suite bathroom, and a separate reception area; Lower‑level gym has free weights, cardio equipment, and a sauna
