Mixed-Use Property with Office
For Sale
Contact for pricing
1908 N NATIONAL AVE, Springfield, MO 65803
General Commercial property with office, warehouse, and residential remodeling potential.
Property Size1,698 SF
Price / SF$156.07
Days on Market18
Property Features for 1908 N NATIONAL AVE
General Information
Standard status
Active
Size
1,698 SF
Property subtype
Mixed Use, Special Purpose, Industrial
Building Details
Year Built
1904
Stories
2
Units
2
Listing Agency:
KW Greater Springfield
Listed By:
Rhett Smillie · License #MO 1999096866
(417) 883-4900
Source:
Crexi
Added: Aug 24
Changed: Sep 4
Last Checked: Sep 10 at 5:19AM
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 KW Greater Springfield
Investment Insights
Based on property information with market context.
Located at 1908 N National Ave in Springfield, Missouri, this 1,698-square-foot mixed-use property combines office and warehouse characteristics with a residential remodeling component. Built in 1904, the property carries a General Commercial designation and offers a compact building format suited to continued commercial use or renovation planning. Its mixed-use classification reflects the combination of commercial workspace and residential remodel potential within the existing property.
Key Highlights
- 1,698 SF mixed‑use property
- Office and warehouse configuration
- Residential remodel component
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
$12,703
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
4.79%
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%
$254,060
$254.1K
Cap Rate 7%
$181,471
$181.5K
Cap Rate 9%
$141,144
$141.1K
Market Conditions
NOI Build-Up for 1,698 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
$21.4K $12.60/SF
− Vacancy
−$1.1K −$0.63/SF
EGI
$20.3K $11.97/SF
− OpEx
−$7.6K −$4.49/SF
NOI
$12.7K $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%
$254,060
Cap Rate 7%
$181,471
Cap Rate 9%
$141,144
Alternative Uses
Best Use
Mixed Use
$181.5K
$158.8K – $211.7K
NOI $12,703 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$256.3K
$224.3K – $299.0K
NOI $17,940 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - General Commercial property with office, warehouse, and residential remodeling potential.
Where is this mixed-use property located?
The property is located at 1908 N NATIONAL AVE Springfield, MO.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1,698 SF mixed‑use property; Office and warehouse configuration; Residential remodel component
