Two-Unit Storefront
For Sale
$210,000
1872 -1874 N Glenstone Avenue, Springfield, MO 65803
Two retail units offer dedicated parking, with one occupied and the other available for a business.
Property Size2,040 SF
Price / SF$102.94
Days on Market148
Property Features for 1872 -1874 N Glenstone Avenue
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$2,573
Amenities
dedicated parking
Central Air, Electric, Wall Air Conditioning
3
Rubber
Paved Driveway.
307 x 34
Building Details
Year Built
1955
Tenancy
Multi
Listing Agency:
Gateway Real Estate Team LLC
(417) 224-7069
Listed By:
Ryan Kell
(417) 224-7069
Source:
Xome
Added: Apr 6
Changed: Aug 30
Last Checked: Aug 30 at 6:56PM
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
Investment Insights
Based on property information with market context.
This 2,040-square-foot commercial property contains two storefront units within a building constructed in 1955. Each unit has dedicated parking, creating a straightforward setup for separate occupants or an owner-user arrangement. One unit is leased to a long-term tenant, while the second is available for business use. The property includes central air, electric service, and wall air conditioning, along with a paved driveway.
Located at 1872–1874 N Glenstone Avenue in Springfield, Missouri, the property presents a compact retail configuration with an existing tenant and additional space for occupancy. Its storefront layout and separate units support flexible commercial use without relying on a single occupant for the entire building.
Located at 1872–1874 N Glenstone Avenue in Springfield, Missouri, the property presents a compact retail configuration with an existing tenant and additional space for occupancy. Its storefront layout and separate units support flexible commercial use without relying on a single occupant for the entire building.
Key Highlights
- 2,040 SF commercial property with two storefront units
- One unit occupied by a long‑term tenant
- Second unit available for business use
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
$15,182
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
7.23%
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%
$303,640
$303.6K
Cap Rate 7%
$216,886
$216.9K
Cap Rate 9%
$168,689
$168.7K
Market Conditions
NOI Build-Up for 2,040 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
$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 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%
$303,640
Cap Rate 7%
$216,886
Cap Rate 9%
$168,689
Alternative Uses
Best Use
Retail
$216.9K
$189.8K – $253.0K
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
NOI $21,553 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Similar Off Market Nearby
- R&S Memorial Decorations — 1835 n glenstone ave, springfield, mo 65803
- Schaffitzel's Flowers & Greenhouses Inc — 1771 E Atlantic St, Springfield, MO 65803
Frequently Asked Questions
What type of property is this?
Storefront property - Two retail units offer dedicated parking, with one occupied and the other available for a business.
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: 2,040 SF commercial property with two storefront units; One unit occupied by a long‑term tenant; Second unit available for business use
