Office Space with Lot
For Sale
$85,000
2500 Grant Avenue, Springfield, MO 65803
Office space with a waiting area and kitchenette, supported by an open lot parking area and circle driveway.
Property Size931 SF
Price / SF$91.30
Days on Market279
Property Features for 2500 Grant Avenue
General Information
Standard status
Active
Size
931 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$1,524
Amenities
Central Air, Electric
3
Building Details
Year Built
1913
Listing Agency:
Primrose
(417) 840-9050
Listed By:
Murney Associates
(417) 840-9050
Source:
Xome
Added: Nov 18, 2025
Changed: Aug 12
Last Checked: Aug 23 at 3:39AM
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.
This property includes office space with a waiting area and kitchenette, and it has operated as a dog grooming business for many years. The layout is suited for an office use where customers or visitors would wait before meeting with staff.
An open lot parking area and circle driveway provide convenient on-site access. The lot offers ample parking space intended to accommodate trailers and trucks, which can be helpful for service-based businesses.
For sale as a commercial property at 2500 N Grant Avenue in Springfield, Missouri, this is a straightforward option for buyers looking for an office configuration with practical vehicle parking on site.
An open lot parking area and circle driveway provide convenient on-site access. The lot offers ample parking space intended to accommodate trailers and trucks, which can be helpful for service-based businesses.
For sale as a commercial property at 2500 N Grant Avenue in Springfield, Missouri, this is a straightforward option for buyers looking for an office configuration with practical vehicle parking on site.
Key Highlights
- 1913‑built office space with a waiting area and kitchenette
- Open lot parking area plus a circle driveway for vehicles and potential trailer/truck parking
- Previously operated as a dog grooming business for many years
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
$7,377
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
8.68%
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%
$147,540
$147.5K
Cap Rate 7%
$105,386
$105.4K
Cap Rate 9%
$81,967
$82.0K
Market Conditions
NOI Build-Up for 931 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
$10.3K $11.04/SF
− Vacancy
−$442 −$0.47/SF
EGI
$9.8K $10.57/SF
− OpEx
−$2.5K −$2.64/SF
NOI
$7.4K $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%
$147,540
Cap Rate 7%
$105,386
Cap Rate 9%
$81,967
Alternative Uses
Best Use
Office B
$105.4K
$92.2K – $123.0K
NOI $7,377 @ 7.0% cap · market cap 8.68%
Second Best
Retail
$99.0K
$86.6K – $115.5K
NOI $6,929 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$140.5K
$123.0K – $163.9K
NOI $9,836 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
287
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 units - Office space with a waiting area and kitchenette, supported by an open lot parking area and circle driveway.
Where is this office units located?
The property is located at 2500 Grant Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $85,000.
What are key features of this property?
This property features: 1913‑built office space with a waiting area and kitchenette; Open lot parking area plus a circle driveway for vehicles and potential trailer/truck parking; Previously operated as a dog grooming business for many years
