Building Details

Year Built 2002

Buildings 1

Building Size 1,800 SF

Construction Red Iron

Listing Agency: Keller Williams Local k***@kw.com Show Phone

Listed By: Melissa Davis · License #2014038070 Show Phone

Source: Onefiverealestate

Added: Aug 15 Changed: Nov 3 Last Checked: Nov 3 at 8:38AM

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Investment Insights

Based on property information with market context.

Built in 2002, this 1,800-square-foot flex property has a 30-by-60-foot steel building with an insulated, heated three-bay shop, concrete floors, and capacity for four vehicles. The shop is outfitted with a Coats tire machine and wheel balancer, a 7.5 HP air compressor, 9,000-pound two-post and four-post lifts, three steel shelving units, and an oil storage tank. A cooled reception area, office with kitchenette, check-in window, built-in desk, mini fridge, microwave, and full bathroom with shower complete the interior. An additional 300 square feet of storage is located above the office.

Exterior improvements include a concrete pad, excavation and gravel work at the side and front, additional side parking, steel protective posts beside the garage doors, and a recently resealed driveway. The property is in Walnut Grove, approximately 20 minutes from Springfield.

Key Highlights

• 1,800‑square‑foot flex property with a 30‑by‑60‑foot building
• Three‑bay shop with concrete floors and capacity for four vehicles
• Includes Coats tire machine and wheel balancer, 7.5 HP compressor, and 9,000‑pound two‑post and four‑post lifts

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,983

Cap Rate

7.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$339,660 $339.7K

Cap Rate 7%

$242,614 $242.6K

Cap Rate 9%

$188,700 $188.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$25.3K $14.04/SF

− Vacancy

−$1.0K −$0.56/SF

EGI

$24.3K $13.48/SF

− OpEx

−$7.3K −$4.04/SF

NOI

$17.0K $9.43/SF

Area

Greene County, MO

Vacancy

4.00%

Lease Rate

$14.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$339,660

Cap Rate 7%

$242,614

Cap Rate 9%

$188,700

Alternative Uses

Best Use

Retail

$242.6K

$212.3K – $283.1K (±1% cap)

NOI $16,983 @ 7.0% cap · market cap 7.55%

Second Best

Flex RnD

$142.9K

$125.1K – $166.7K (±1% cap)

NOI $10,004 @ 7.0% cap · market cap 4.45%

Theoretical Best

Office A

$590.6K

$516.8K – $689.0K (±1% cap)

NOI $41,342 @ 7.0% cap · market cap 18.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Plumbing Service Kitchen & Bath Showroom Pet Store Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Service bays

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 65770, MO

3,044

Population

1,212

Households

2.5

Avg Household Size

43

Median Age

12%

College-Educated

91%

High-School Grad

95.7 sq mi

ZIP Area

32

Density / Sq Mi

$56,484

Median Household Income

$39,668

Median Earnings

$747

Median Rent

$181,200

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Insulated, heated workspace includes a cooled reception area, office kitchenette, bathroom with shower, and shop equipment.

Where is this flex space located?

The property is located at 306 S Washington Street Walnut Grove, MO.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: 1,800‑square‑foot flex property with a 30‑by‑60‑foot building; Three‑bay shop with concrete floors and capacity for four vehicles; Includes Coats tire machine and wheel balancer, 7.5 HP compressor, and 9,000‑pound two‑post and four‑post lifts