Industrial Land with Office
For Sale
$950,000
2600 N Benton Avenue, Springfield, MO 65803
Land, Springfield, MO
Property Size4,000 SF
Lot Size19.90 Acres
Price / SF$237.50
Days on Market769
Property Features for 2600 N Benton Avenue
General Information
Property type
Land
Property subtype
Other
Elementary school
SGF-Watkins
Middle school
SGF-Reed
High school
SGF-Hillcrest
Directions
From Kearney, turn north of Benton, property at e3nd of Benton and E Talmage,
Standard status
Active
APN
88-13-01-301-019
Lot size
19.90 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
19.9A M/L NW1/4 NE1/4 SW1/4 & S1/2 NE1/4 SW1/4 1/29/22 (EX 2 .28A SW COR) & (EXN 268 FT E 546.5 FT) & (EX S 377.75 FT E 4 35 FT) 1/29/22
Tax Annual Amount
4228
Legal Description
19.9A M/L NW1/4 NE1/4 SW1/4 & S1/2 NE1/4 SW1/4 1/29/22 (EX 2 .28A SW COR) & (EXN 268 FT E 546.5 FT) & (EX S 377.75 FT E 4 35 FT) 1/29/22
Listing Agency:
Murney Associates - Primrose
(417) 823-2300
Listed By:
Galen B Pellham · License #MO1999033935
(417) 839-0156
Added: Jul 24, 2024
Changed: Aug 19
Last Checked: Aug 31 at 12:06PM
MLS# 60273615
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.
Investment Insights
Based on property information with market context.
This 19.9-acre industrial land property includes a two-story office and warehouse totaling 4,000 square feet, along with additional shop buildings. The site was previously operated as a quarry and later used as an auto salvage yard. Current activity includes receiving clean fill to raise portions of the grade above flood plain areas.
An existing business may be included with the purchase of the land and structures. Public sewer runs along a portion of the west property line, providing an established utility connection point for the property.
An existing business may be included with the purchase of the land and structures. Public sewer runs along a portion of the west property line, providing an established utility connection point for the property.
Key Highlights
- 19.9‑acre industrial land property
- Two‑story, 4,000 sq. ft. office and warehouse
- Additional shop buildings on site
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
$31,696
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
3.34%
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%
$633,920
$633.9K
Cap Rate 7%
$452,800
$452.8K
Cap Rate 9%
$352,178
$352.2K
Market Conditions
NOI Build-Up for 4,000 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
$44.2K $11.04/SF
− Vacancy
−$1.9K −$0.47/SF
EGI
$42.3K $10.57/SF
− OpEx
−$10.6K −$2.64/SF
NOI
$31.7K $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%
$633,920
Cap Rate 7%
$452,800
Cap Rate 9%
$352,178
Alternative Uses
Best Use
Office B
$452.8K
$396.2K – $528.3K
NOI $31,696 @ 7.0% cap · market cap 3.34%
Second Best
Warehouse
$222.5K
$194.7K – $259.6K
NOI $15,578 @ 7.0% cap · market cap 1.64%
Theoretical Best
Office A
$603.7K
$528.3K – $704.4K
NOI $42,261 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
263
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial land - Large industrial land tract with existing office, warehouse, shop buildings, and ongoing grade work above flood plain areas.
Where is this industrial land located?
The property is located at 2600 N Benton 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: 19.9‑acre industrial land property; Two‑story, 4,000 sq. ft. office and warehouse; Additional shop buildings on site
