Multi-Tenant Retail
For Sale
Contact for pricing
1950 South Glenstone Avenue, Springfield, MO 65804
Six tenants occupy seven retail suites along South Glenstone Avenue.
Property Size6,006 SF
Price / SF$189.81
Days on Market15
Property Features for 1950 South Glenstone Avenue
General Information
Standard status
Active
Size
6,006 SF
Total Parking Spaces
20
Property subtype
Retail
Zoning
INC
Lease Type
NNN
Investment Type
Value Add
Additional Details
Traffic Count
40,000 vehicles/day
Building Details
Year Built
1966
Tenancy
Multi
Listing Agency:
Graddy Real Estate
(417) 883-4900
Listed By:
Adam Graddy · License #MO 2004014961
Source:
Crexi
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 10 at 1:40PM
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 Graddy Real Estate
Investment Insights
Based on property information with market context.
This shopping center at 1950 South Glenstone Avenue contains 7 retail suites occupied by 6 tenants. The property offers storefront windows, on-site parking, and commercial frontage, with 6,006 in reported property size. Built in 1966, it is identified with INC zoning. The multi-suite layout supports both leased occupancy and potential owner use within the center.
The property is positioned just south of Plaza Shopping Center on South Glenstone Avenue in Springfield, Missouri. The corridor carries approximately 40,000 vehicles per day and includes national and local retailers, restaurants, and service businesses. Its location provides direct exposure to an established commercial environment with multiple surrounding retail and service uses.
The property is positioned just south of Plaza Shopping Center on South Glenstone Avenue in Springfield, Missouri. The corridor carries approximately 40,000 vehicles per day and includes national and local retailers, restaurants, and service businesses. Its location provides direct exposure to an established commercial environment with multiple surrounding retail and service uses.
Key Highlights
- 7 retail suites occupied by 6 tenants
- Approximately 40,000 vehicles per day on South Glenstone Avenue
- On‑site parking and large storefront windows
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
$44,697
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
3.92%
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%
$893,940
$893.9K
Cap Rate 7%
$638,529
$638.5K
Cap Rate 9%
$496,633
$496.6K
Market Conditions
NOI Build-Up for 6,006 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
$66.3K $11.04/SF
− Vacancy
−$2.5K −$0.41/SF
EGI
$63.9K $10.63/SF
− OpEx
−$19.2K −$3.19/SF
NOI
$44.7K $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%
$893,940
Cap Rate 7%
$638,529
Cap Rate 9%
$496,633
Alternative Uses
Best Use
Retail
$638.5K
$558.7K – $745.0K
NOI $44,697 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$906.5K
$793.2K – $1.06M
NOI $63,455 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
40,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,971
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Plaza Towers Center — S Glenstone Ave, Springfield, MO 65804
- Plaza Shopping Center — 1907 S Glenstone Ave, Springfield, MO 65804
- Spring Valley Shopping Center — 1675 E Seminole St, Springfield, MO 65804
- Tower Grove Shopping Center — 1803 E Seminole St, Springfield, MO 65804, United States
- L&L luckylynns — 1914 s glenn ave, springfield, mo 65807
Frequently Asked Questions
What type of property is this?
Shopping center - Six tenants occupy seven retail suites along South Glenstone Avenue.
Where is this shopping center located?
The property is located at 1950 South Glenstone Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $1,140,000.
What are key features of this property?
This property features: 7 retail suites occupied by 6 tenants; Approximately 40,000 vehicles per day on South Glenstone Avenue; On‑site parking and large storefront windows
