Office-Warehouse Flex
For Sale
Contact for pricing
3038 W Kearney St, Springfield, MO 65803
Office suite with multiple private offices and clear-span warehouse space with 3 dock doors and one drive-in ramp.
Property Size14,400 SF
Lot Size1.98 Acres
Price / SF$194.44
Days on Market189
Property Features for 3038 W Kearney St
General Information
Standard status
Active
Size
14,400 SF
Lot size
1.98 Acres
Property subtype
INDUSTRIAL
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
27 ft
Dock-High Doors
3
Drive-In Doors
1
Additional Details
Business Included
No
Amenities
multiple private offices
conference room
kitchen/breakroom
private restroom
locker room
3 hanging heaters
concrete truck court
Listing Agency:
Revel Commercial Real Estate
(314) 650-6601
Listed By:
Timothy C. Convy · License #2004034792
(314) 650-6601
Source:
Moodyscre
Added: Feb 3
Changed: Jul 28
Last Checked: Jul 28 at 9:31PM
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 Revel Commercial Real Estate
Investment Insights
Based on property information with market context.
This office-warehouse flex building totals 14,400 square feet and includes 2,600 square feet of office space with multiple private offices, a conference room, and a kitchen/breakroom. The remaining 11,800 square feet is a clear-span warehouse with a private restroom, locker room, and three hanging heaters. The property also features 24'–27' ceiling heights, 3 dock doors with levelers, and 1 drive-in door served by a concrete ramp. A concrete truck court with a fenced yard and ample parking support day-to-day operations.
The building sits on 1.976 acres and is available for sale as a potential owner-user setup, with the current tenant relocating.
The warehouse configuration is designed around clear-span efficiency, while the included office improvements provide separated work areas, meeting space, and breakroom accommodations for on-site teams.
The building sits on 1.976 acres and is available for sale as a potential owner-user setup, with the current tenant relocating.
The warehouse configuration is designed around clear-span efficiency, while the included office improvements provide separated work areas, meeting space, and breakroom accommodations for on-site teams.
Key Highlights
- 14,400 SF office/warehouse building on 1.976 acres for sale
- 2,600 SF office includes multiple private offices, conference room, and kitchen/breakroom
- 11,800 SF clear‑span warehouse with private restroom and locker room, plus 3 hanging heaters
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
$114,105
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
4.08%
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%
$2,282,100
$2.3M
Cap Rate 7%
$1,630,071
$1.6M
Cap Rate 9%
$1,267,833
$1.3M
Market Conditions
NOI Build-Up for 14,400 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
$159.0K $11.04/SF
− Vacancy
−$6.8K −$0.47/SF
EGI
$152.1K $10.57/SF
− OpEx
−$38.0K −$2.64/SF
NOI
$114.1K $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%
$2,282,100
Cap Rate 7%
$1,630,071
Cap Rate 9%
$1,267,833
Alternative Uses
Best Use
Office B
$1.63M
$1.43M – $1.90M
NOI $114,105 @ 7.0% cap · market cap 4.08%
Second Best
Warehouse
$801.1K
$701.0K – $934.7K
NOI $56,080 @ 7.0% cap · market cap 2.00%
Theoretical Best
Office A
$2.17M
$1.90M – $2.54M
NOI $152,140 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
27 ft
Clear height
3
Dock-high doors
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - Office suite with multiple private offices and clear-span warehouse space with 3 dock doors and one drive-in ramp.
Where is this flex space located?
The property is located at 3038 W Kearney St Springfield, MO.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 14,400 SF office/warehouse building on 1.976 acres for sale; 2,600 SF office includes multiple private offices, conference room, and kitchen/breakroom; 11,800 SF clear‑span warehouse with private restroom and locker room, plus 3 hanging heaters
