Multi-Tenant Office
311 South Avenue, Springfield, MO 65806
For Sale
Contact for pricing
Leased suites, on-site parking, and drive-through facilities serve the property’s multi-tenant configuration.
Property Size15,792 SF
Price / SF$89.92
Days on Market55
Property Features for 311 South Avenue
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Amenities
drive-thru facilities
Building Details
Buildings
Building Size
Tenancy
Listing Agency:
SVN | Rankin Company, LLC
Listed By:
Arch Watson · License #MO 2009010579
(417) 773-9022
Source:
Crexi
Added: Sep 16
Changed: Oct 25
Last Checked: Nov 8 at 7:55AM
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 SVN | Rankin Company, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 15,792 SF office building has multiple tenant suites, including space leased in addition to the bank-occupied portion. Built for bank use, the property retains drive-through facilities and an on-site parking lot. The bank is scheduled to vacate on October 31, 2026.
At 311 South Avenue in Downtown Springfield, the building sits just south of Park Central Square. Restaurants, entertainment, offices, and downtown residential development are nearby.
At 311 South Avenue in Downtown Springfield, the building sits just south of Park Central Square. Restaurants, entertainment, offices, and downtown residential development are nearby.
Key Highlights
- 15,792 SF multi‑tenant office building
- Bank tenant scheduled to vacate October 31, 2026
- Drive‑through facilities and on‑site parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,920
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,518,400
$2.5M
Cap Rate 7%
$1,798,857
$1.8M
Cap Rate 9%
$1,399,111
$1.4M
Market Conditions
NOI Build-Up for 15,792 SF
Gross rent
$174.3K $11.04/SF
− Vacancy
−$6.5K −$0.41/SF
EGI
$167.9K $10.63/SF
− OpEx
−$42.0K −$2.66/SF
NOI
$125.9K $7.97/SF
Area
Springfield, MO
Vacancy
3.70%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,518,400
Cap Rate 7%
$1,798,857
Cap Rate 9%
$1,399,111
Alternative Uses
Best Use
Specialty Retail
$1.80M
$1.57M – $2.10M
NOI $125,920 @ 7.0% cap · market cap 8.87%
Second Best
Office B
$1.79M
$1.56M – $2.09M
NOI $125,135 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$2.38M
$2.09M – $2.78M
NOI $166,847 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 65806, MO
12,529
Population
8,049
Households
1.6
Avg Household Size
27
Median Age
22%
College-Educated
87%
High-School Grad
2.1 sq mi
ZIP Area
5,966
Density / Sq Mi
$28,450
Median Household Income
$21,090
Median Earnings
$840
Median Rent
$85,700
Median Home Value
Market
Average Price Trend$/SF for Office buildings in Springfield, MO
Properties on Market for Office buildings in Springfield
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Leased suites, on-site parking, and drive-through facilities serve the property’s multi-tenant configuration.
Where is this office building located?
The property is located at 311 South Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $1,420,000.
What are key features of this property?
This property features: 15,792 SF multi‑tenant office building; Bank tenant scheduled to vacate October 31, 2026; Drive‑through facilities and on‑site parking lot
