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    Updated Commercial Building in Springfield Title is generated by Realmo AI

    215 N Grant Avenue, Springfield, MO 65806

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    For Lease
    $4,000 /Mo

    COMMERCIAL - Springfield, MO

    Lot size:
    0.42 Acres
    Added:
    Feb 25, 2026
    Days on Market:
    79
    Last Refresh:
    May 14 at 11:06 pm

    Property Features for 215 N Grant Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    INC
    Bathrooms
    3
    Rooms
    Bathroom 2, Bathroom 3, Bathroom 1
    Standard status
    Active
    APN
    1323118036
    Lot size
    0.42 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    BEG NE COR OLIVE AND GRANT; THENCE S125FT; S83W 120FT; N01E 5FT; S83W 6.71FT; N05W118.74; THEN EAST TO POINT OF BEGINNING 23/29/22
    Tax Annual Amount
    5794

    Building Details

    Year built
    1940

    We can help!

    Listing Contact
    Renea Frizzell

    Listing agent Renea Frizzell

    Listing office Home Sweet Home Realty & Associates, LLC MO

    Listing date Feb 25, 2026

    MLS# 60316168

    Copyright © 2026 Southern Missouri Regional MLS, LLC (SOMO). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in the heart of Springfield, close to downtown, MSU, OTC, Drury, shopping, and restaurants.
    • Additional parking lot available to the north of the building for extra parking needs (negotiable rate).
    • Flexible space suitable for office, storage, and/or industrial use.
    • Private restrooms within the building.
    • Flexible lease terms available, with preference for long‑term tenants.
    • Updated building built in 1940.

    Overview

    This updated commercial building is located in the heart of Springfield, Missouri, a few blocks from downtown, Missouri State University, Ozarks Technical Community College, Drury University, shopping, and restaurants. An additional parking lot north of the building is available at a negotiable rate, suitable for businesses needing extra parking or tow companies. The building offers options for office, storage, and industrial space, along with private restrooms. The owner prefers long-term tenants and is flexible on the lease term. A minimum of one month's deposit and the first month's rent are required. The tenant is responsible for all utilities, renter's insurance, and a $50 yearly lease increase to cover tax increases. The lot size is 0.42 acres. The zoning is INC. Tenants should confirm proper zoning for their intended business use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mother's Brewing Company Production Facility Cufflink Coffee Cafe & Coffee Shop Deryk Morelock, Sales ... Insurance Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Traveling Chef, LLC — 318 Park Central E #105, Springfield, MO 65806

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.299016
    Latitude
    37.209071

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    FAQs

    What type of property is this?
    Flex space - Updated building near downtown, MSU, OTC, Drury, shopping, and restaurants.
    Where is this flex space located?
    The property is located at 215 N Grant Avenue Springfield, MO.
    What is the lease rate?
    The lease rate is $4,000 /Mo.
    What are key features of this property?
    This property features: Prime location in the heart of Springfield, close to downtown, MSU, OTC, Drury, shopping, and restaurants.; Additional parking lot available to the north of the building for extra parking needs (negotiable rate).; Flexible space suitable for office, storage, and/or industrial use.
    (417) 773-6063
    We can help!
    Listing Contact
    Renea Frizzell
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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