Building Details

Building Size 2,040 SF

Year Built 1955

Tenancy Multi

Listing Agency: Gateway Real Estate Team LLC

Listed By: Ryan D Kell Show Phone

Source: Tolbertrealtors

Added: Apr 15 Changed: Nov 1 Last Checked: Nov 1 at 3:48PM

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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 Gateway Real Estate Team LLC

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Investment Insights

Based on property information with market context.

This 2,040-square-foot storefront property contains two units, with dedicated parking serving the storefronts. One unit is occupied by a long-term tenant, while the other is available for a business. The building dates to 1955.

Situated on N Glenstone Avenue in Springfield, the property is identified at 1872–1874 N Glenstone Avenue.

Key Highlights

• Two storefront units in a 2,040‑square‑foot property
• One unit has a long‑term tenant; the other is available for a business
• Dedicated parking serves the storefronts

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,182

Cap Rate

7.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$303,640 $303.6K

Cap Rate 7%

$216,886 $216.9K

Cap Rate 9%

$168,689 $168.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,040 SF

Gross rent

$22.5K $11.04/SF

− Vacancy

−$833 −$0.41/SF

EGI

$21.7K $10.63/SF

− OpEx

−$6.5K −$3.19/SF

NOI

$15.2K $7.44/SF

Area

Springfield, MO

Vacancy

3.70%

Lease Rate

$11.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$303,640

Cap Rate 7%

$216,886

Cap Rate 9%

$168,689

Alternative Uses

Best Use

Retail

$216.9K

$189.8K – $253.0K (±1% cap)

NOI $15,182 @ 7.0% cap · market cap 7.23%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$307.9K

$269.4K – $359.2K (±1% cap)

NOI $21,553 @ 7.0% cap · market cap 10.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Marilyn Rose Hair ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Spa & Massage Center Nail Salon Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

565

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 65803, MO

42,007

Population

19,659

Households

2.1

Avg Household Size

38

Median Age

22%

College-Educated

91%

High-School Grad

93.4 sq mi

ZIP Area

450

Density / Sq Mi

$46,539

Median Household Income

$33,537

Median Earnings

$890

Median Rent

$158,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Storefront property - A separate vacant storefront offers space for an incoming business alongside an occupied unit.

Where is this storefront property located?

The property is located at 1872 -1874 N Glenstone Avenue Springfield, MO.

What is the asking price?

The asking price for this property is $210,000.

What are key features of this property?

This property features: Two storefront units in a 2,040‑square‑foot property; One unit has a long‑term tenant; the other is available for a business; Dedicated parking serves the storefronts