Flex Space with Warehouse
For Sale
$2,500,000
3001 E Pythian Street, Springfield, MO 65802
COMMERCIAL - Springfield, MO
Property Size38,046 SF
Lot Size2.00 Acres
Price / SF$65.71
Days on Market122
Property Features for 3001 E Pythian Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GM
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 2, Bathroom 5, Bathroom 3, Bathroom 1, Bathroom 6, Bathroom 4
Lot features
Level
Directions
East Springfield. From intersection of Hwy 65 and E. Chestnut Expwy in Springfield. West on Chestnut Expwy approx. 2 blocks. Then Rt/North on Belcrest Ave. approx. 3 block to T intersection of Belcrest and Pythian. Property is at the North side of the intersection.
Standard status
Active
APN
1216102030
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2A W 2A W 6A Sw1/4 Sw1/4 Ne1/4 16/29/21
Tax Annual Amount
18854
Legal Description
2A W 2A W 6A Sw1/4 Sw1/4 Ne1/4 16/29/21
Utilities
Utilities
Water Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
Security and Intercom System
Indoor/Inground Pool
Sauna
Building Details
Year built
1979
Listing Agency:
AMAX Real Estate
(417) 855-2333
Listed By:
Joanna Presley · License #2021031498
(417) 773-7539
Added: Apr 23
Changed: Aug 18
Last Checked: Aug 22 at 5:06PM
MLS# 60321676
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 flex space property comprises 38,046+/- SF across approximately 2+/- acres, with warehouse, office, auxiliary, and separate storage improvements. The main building includes 22,560+/- SF of warehouse area and 2,976+/- SF of office space, while a 6,000+/- SF north warehouse provides additional enclosed space. The property also contains 6,510+/- SF of pool and auxiliary facilities with locker rooms, showers, restrooms, saunas, and office areas.
Warehouse features include up to 18-foot ceiling height, eight powered grade-level drive-in overhead doors across the two warehouse buildings, sprinkler protection, ceiling-mounted heat units, skylights, lighting, security, intercom, industrial racking, and six warehouse offices. The office component includes reception, showroom, conference, kitchen, executive, call center, and private office areas. Built in 1979, the property is zoned GM General Manufacturing and is located near the Hwy 65 and I-44 corridor in Springfield, Missouri.
Warehouse features include up to 18-foot ceiling height, eight powered grade-level drive-in overhead doors across the two warehouse buildings, sprinkler protection, ceiling-mounted heat units, skylights, lighting, security, intercom, industrial racking, and six warehouse offices. The office component includes reception, showroom, conference, kitchen, executive, call center, and private office areas. Built in 1979, the property is zoned GM General Manufacturing and is located near the Hwy 65 and I-44 corridor in Springfield, Missouri.
Key Highlights
- 38,046+/- SF flex space property on approximately 2+/- acres
- 22,560+/- SF main warehouse plus a 6,000+/- SF separate north warehouse
- 2,976+/- SF office area and 6,510+/- SF auxiliary pool and fitness space
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
$148,169
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
5.93%
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%
$2,963,380
$3.0M
Cap Rate 7%
$2,116,700
$2.1M
Cap Rate 9%
$1,646,322
$1.6M
Market Conditions
NOI Build-Up for 38,046 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
$178.1K $4.68/SF
− Vacancy
−$3.7K −$0.10/SF
EGI
$174.3K $4.58/SF
− OpEx
−$26.1K −$0.69/SF
NOI
$148.2K $3.89/SF
Area
Springfield, MO
Vacancy
2.10%
Lease Rate
$4.68 /SF/Yr
Expense Ratio
15.00%
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%
$2,963,380
Cap Rate 7%
$2,116,700
Cap Rate 9%
$1,646,322
Alternative Uses
Best Use
Office B
$4.31M
$3.77M – $5.02M
NOI $301,475 @ 7.0% cap · market cap 12.06%
Second Best
Warehouse
$2.12M
$1.85M – $2.47M
NOI $148,169 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$5.74M
$5.02M – $6.70M
NOI $401,967 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
8
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 65802, MO
48,233
Population
20,199
Households
2.4
Avg Household Size
35
Median Age
26%
College-Educated
89%
High-School Grad
61.4 sq mi
ZIP Area
786
Density / Sq Mi
$51,080
Median Household Income
$34,298
Median Earnings
$900
Median Rent
$162,400
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?
Flex space - Versatile GM-zoned commercial facility combining warehouse, office, and wellness-oriented improvements in a multi-building configuration.
Where is this flex space located?
The property is located at 3001 E Pythian Street Springfield, MO.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 38,046+/- SF flex space property on approximately 2+/- acres; 22,560+/- SF main warehouse plus a 6,000+/- SF separate north warehouse; 2,976+/- SF office area and 6,510+/- SF auxiliary pool and fitness space
