Versatile Retail-Office
For Sale
$950,000
2122 S Glenstone Avenue, Springfield, MO 65804
Flexible retail/office building with open showroom space, workshop area, and parking in front and rear.
Property Size8,364 SF
Lot Size0.48 Acres
Price / SF$113.58
Days on Market129
Property Features for 2122 S Glenstone Avenue
General Information
Standard status
Active
Size
8,364 SF
Lot size
0.48 Acres
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$5,442
Amenities
Central Air, Electric
3
Composition
Building Details
Year Built
1985
Listing Agency:
Greater Springfield Realty, LLC (Keller Williams)
(417) 840-6008
Listed By:
Keller Williams · License #2004014961
(417) 840-6008
Source:
Xome
Added: Apr 17
Changed: Aug 23
Last Checked: Aug 22 at 11:25AM
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 Greater Springfield Realty, LLC (Keller Williams)
Investment Insights
Based on property information with market context.
This versatile retail building offers approximately 8,364 square feet of flexible space that can support retail or office use. The main level includes expansive showroom space, a kitchen area, and a bathroom, and the layout features a central focal point with a unique fireplace sitting area. Additional functional space includes a dedicated workshop area, while the basement provides abundant storage, a second bathroom, and extra workspace.
The property is positioned along South Glenstone Avenue in a high-traffic commercial corridor. It includes ample parking in both the front and rear and has a convenient bay door for basement access, which can support deliveries, equipment, or inventory. The building is adjacent to a Maverik gas station and near Red Lobster and The Carpet Shoppe, surrounded by established retail and dining businesses.
For operations requiring both customer-facing space and back-of-house utility, the combination of showroom, kitchen, workshop, and basement storage with a loading-style bay door supports a range of commercial configurations.
The property is positioned along South Glenstone Avenue in a high-traffic commercial corridor. It includes ample parking in both the front and rear and has a convenient bay door for basement access, which can support deliveries, equipment, or inventory. The building is adjacent to a Maverik gas station and near Red Lobster and The Carpet Shoppe, surrounded by established retail and dining businesses.
For operations requiring both customer-facing space and back-of-house utility, the combination of showroom, kitchen, workshop, and basement storage with a loading-style bay door supports a range of commercial configurations.
Key Highlights
- High‑visibility retail building at 2122 S Glenstone Ave on approx. 0.48 acres in Springfield
- Around 8,364 SF of flexible space for retail, office, or redevelopment; previously operated as a jewelry store
- Main level includes expansive showroom/open floor plan plus kitchen area and a bathroom
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
$66,276
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
6.98%
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%
$1,325,520
$1.3M
Cap Rate 7%
$946,800
$946.8K
Cap Rate 9%
$736,400
$736.4K
Market Conditions
NOI Build-Up for 8,364 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
$92.3K $11.04/SF
− Vacancy
−$4.0K −$0.47/SF
EGI
$88.4K $10.57/SF
− OpEx
−$22.1K −$2.64/SF
NOI
$66.3K $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%
$1,325,520
Cap Rate 7%
$946,800
Cap Rate 9%
$736,400
Alternative Uses
Best Use
Office B
$946.8K
$828.5K – $1.10M
NOI $66,276 @ 7.0% cap · market cap 6.98%
Second Best
Retail
$889.2K
$778.1K – $1.04M
NOI $62,245 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,368 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,760
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Flexible retail/office building with open showroom space, workshop area, and parking in front and rear.
Where is this retail space located?
The property is located at 2122 S Glenstone Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: High‑visibility retail building at 2122 S Glenstone Ave on approx. 0.48 acres in Springfield; Around 8,364 SF of flexible space for retail, office, or redevelopment; previously operated as a jewelry store; Main level includes expansive showroom/open floor plan plus kitchen area and a bathroom
