Freestanding Single-Story Office
For Sale
$950,000
2212 Kearney Street, Springfield, MO 65803
Single-story freestanding office building with 50+ paved parking spaces and multiple restrooms across 12+ office rooms.
Property Size7,007 SF
Lot Size1.44 Acres
Price / SF$135.58
Days on Market265
Property Features for 2212 Kearney Street
General Information
Standard status
Active
Size
7,007 SF
Total Parking Spaces
50
Lot size
1.44 Acres
Property subtype
Office
Zoning
HC
Site & Location
Traffic Count
17,385 vehicles/day
Road Access
Yes
Additional Details
Office Units
12
Taxes and HOA fees
Annual Taxes
$16,981
Amenities
Central Air, Electric
3
Composition, Asphalt
Paved Driveway.
Building Details
Year Built
1997
Stories
1
Listing Agency:
Primrose
(417) 823-2300
Listed By:
Murney Associates
(417) 823-2300
Source:
Xome
Added: Nov 28, 2025
Changed: Aug 12
Last Checked: Aug 20 at 4:54AM
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 Primrose
Investment Insights
Based on property information with market context.
A 7,007-square-foot, all-brick and masonry block, single-story freestanding office building is offered for sale. The interior is arranged around a waiting/reception area with ADA restroom, a clerical counter, and additional workspace supported by a multi-room layout. The building includes sink/plumbing fixtures throughout 12 office rooms, multiple larger offices that can function as conference or collaborative spaces, plus storage, a lounge room, and four additional restrooms. A covered front canopy drop-off/pickup area provides covered access at the entrance.
The property has Kearney Street frontage and is accessed conveniently from the Park Street entrance. A paved parking lot offers approximately 50+ vehicle spaces, and monument signage is on site. The site spans 1.44 acres (m/l) and is designated as “HC” Highway Commercial zoning. Average weekday traffic is reported at 17,385 VPD per MODOT for Kearney Street.
The property is being sold “AS IS” with right to inspection.
The property has Kearney Street frontage and is accessed conveniently from the Park Street entrance. A paved parking lot offers approximately 50+ vehicle spaces, and monument signage is on site. The site spans 1.44 acres (m/l) and is designated as “HC” Highway Commercial zoning. Average weekday traffic is reported at 17,385 VPD per MODOT for Kearney Street.
The property is being sold “AS IS” with right to inspection.
Key Highlights
- 7,007 SF single‑story freestanding office building with all brick and masonry block construction
- 12+ office rooms with multiple restrooms, including an ADA restroom
- Paved parking lot with 50+ vehicle spaces and covered front canopy drop‑off/pickup area
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
$55,523
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
5.84%
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%
$1,110,460
$1.1M
Cap Rate 7%
$793,186
$793.2K
Cap Rate 9%
$616,922
$616.9K
Market Conditions
NOI Build-Up for 7,007 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
$77.4K $11.04/SF
− Vacancy
−$3.3K −$0.47/SF
EGI
$74.0K $10.57/SF
− OpEx
−$18.5K −$2.64/SF
NOI
$55.5K $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%
$1,110,460
Cap Rate 7%
$793,186
Cap Rate 9%
$616,922
Alternative Uses
Best Use
Office B
$793.2K
$694.0K – $925.4K
NOI $55,523 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$925.4K – $1.23M
NOI $74,031 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Office units
17,385 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
428
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-story freestanding office building with 50+ paved parking spaces and multiple restrooms across 12+ office rooms.
Where is this office building located?
The property is located at 2212 Kearney Street 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: 7,007 SF single‑story freestanding office building with all brick and masonry block construction; 12+ office rooms with multiple restrooms, including an ADA restroom; Paved parking lot with 50+ vehicle spaces and covered front canopy drop‑off/pickup area
