Mixed-Use Office and
For Sale
$1,400,000
222 E Water St, Springfield, MO 65806
Two-level office space with executive offices and conference room, plus two upper-level loft apartments.
Property Size8,825 SF
Days on Market96
Property Features for 222 E Water St
General Information
Standard status
Active
Size
8,825 SF
Class
B
Property subtype
Office - General Office
Site & Location
Neighborhood
West Central
Building Details
Building Size
8,825 SF
Year Built
1885
Units
3
Listing Agency:
Moreno Group Commercial Realty
Listed By:
Tyler Ray · License ##2018016609
(417) 496-1134
Source:
Commercialcafe
Added: Jul 26
Changed: Oct 25
Last Checked: Oct 28 at 5:09AM
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 Moreno Group Commercial Realty
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Investment Insights
Based on property information with market context.
Located at the SE corner of Water Street and Boonville Avenue, 222 E Water Street is a mixed-use owner-user and investment property in Downtown Springfield, Missouri. The building includes approximately 5,240 SF of office space across two levels, with five executive offices, a large conference room, two kitchenettes, and expansive open workspace. Abundant natural light and exposed ceilings help define a distinctive modern interior.
The property also features two upper-level loft apartments that provide supplemental rental income. For parking and access, there is a large private parking lot and a 4-car garage.
Center City zoning is noted, and the layout supports combined use with income-producing residential units on the upper level.
The property also features two upper-level loft apartments that provide supplemental rental income. For parking and access, there is a large private parking lot and a 4-car garage.
Center City zoning is noted, and the layout supports combined use with income-producing residential units on the upper level.
Key Highlights
- 5,240 SF two‑level office space with five executive offices, a large conference room, two kitchenettes, and open workspace
- Abundant natural light with exposed ceilings on the office levels
- Two upper‑level loft apartments to provide supplemental rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,990
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,599,800
$1.6M
Cap Rate 7%
$1,142,714
$1.1M
Cap Rate 9%
$888,778
$888.8K
Market Conditions
NOI Build-Up for 8,825 SF
Gross rent
$121.8K $13.80/SF
− Vacancy
−$7.5K −$0.85/SF
EGI
$114.3K $12.95/SF
− OpEx
−$34.3K −$3.88/SF
NOI
$80.0K $9.06/SF
Area
Springfield, MO
Vacancy
6.17%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,599,800
Cap Rate 7%
$1,142,714
Cap Rate 9%
$888,778
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$999.9K – $1.33M
NOI $79,990 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$1.02M
$891.8K – $1.19M
NOI $71,341 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$1.33M
$1.17M – $1.55M
NOI $93,239 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,270
Businesses Nearby
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Business Placement
Demographics for 65806, MO
12,529
Population
8,049
Households
1.6
Avg Household Size
27
Median Age
22%
College-Educated
87%
High-School Grad
2.1 sq mi
ZIP Area
5,966
Density / Sq Mi
$28,450
Median Household Income
$21,090
Median Earnings
$840
Median Rent
$85,700
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level office space with executive offices and conference room, plus two upper-level loft apartments.
Where is this mixed-use property located?
The property is located at 222 E Water St Springfield, MO.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 5,240 SF two‑level office space with five executive offices, a large conference room, two kitchenettes, and open workspace; Abundant natural light with exposed ceilings on the office levels; Two upper‑level loft apartments to provide supplemental rental income
