Third-Floor Office
For Sale
$549,000
Pending
320-1531 E Bradford Pkwy, Springfield, MO 65804
Office condominium suite with dedicated media production areas and adaptable workspace for professional or creative operations.
Property Size2,493 SF
Days on Market296
Property Features for 320-1531 E Bradford Pkwy
General Information
Standard status
Pending
Size
2,493 SF
Class
Class A
Additional Details
Floor
3
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,240
Listing Agency:
Murney Associates - Primrose
Listed By:
Donna Cleous · License #1999012026
(417) 823-2300
Source:
Exprealty
Added: Nov 11, 2025
Changed: Aug 31
Last Checked: Aug 31 at 7:00PM
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 Murney Associates - Primrose
Investment Insights
Based on property information with market context.
This third-floor office condominium contains approximately 2,493 square feet, including 2,082 square feet of finished office area and 411 square feet of unfinished storage. The interior includes a dedicated media room, video production and editing space, and a soundproof podcast studio. The configuration can support a conventional office arrangement, collaborative work areas, or a combination of professional and creative functions.
The suite is located in an ADA-compliant, Class-A office building within Bradford Place Office Condominiums. Its setting provides access to the James River Freeway, Springfield’s Medical Mile, and major office districts. The additional storage area offers space for equipment, inventory, or other operational needs.
The suite is located in an ADA-compliant, Class-A office building within Bradford Place Office Condominiums. Its setting provides access to the James River Freeway, Springfield’s Medical Mile, and major office districts. The additional storage area offers space for equipment, inventory, or other operational needs.
Key Highlights
- Approximately 2,493 SF total, with 2,082 SF finished office space and 411 SF unfinished storage
- Third‑floor office condominium within an ADA‑compliant, Class‑A office building
- Dedicated media room plus video production and editing area
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
$19,754
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
3.60%
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%
$395,080
$395.1K
Cap Rate 7%
$282,200
$282.2K
Cap Rate 9%
$219,489
$219.5K
Market Conditions
NOI Build-Up for 2,493 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
$27.5K $11.04/SF
− Vacancy
−$1.2K −$0.47/SF
EGI
$26.3K $10.57/SF
− OpEx
−$6.6K −$2.64/SF
NOI
$19.8K $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%
$395,080
Cap Rate 7%
$282,200
Cap Rate 9%
$219,489
Alternative Uses
Best Use
Office B
$282.2K
$246.9K – $329.2K
NOI $19,754 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.3K
$329.2K – $439.0K
NOI $26,339 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,193
Businesses Nearby
Explore this area
Business Placement
Demographics for 65804, MO
40,064
Population
20,118
Households
2
Avg Household Size
40
Median Age
42%
College-Educated
97%
High-School Grad
18.6 sq mi
ZIP Area
2,154
Density / Sq Mi
$58,288
Median Household Income
$40,103
Median Earnings
$898
Median Rent
$227,000
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?
Office units - Office condominium suite with dedicated media production areas and adaptable workspace for professional or creative operations.
Where is this office units located?
The property is located at 320-1531 E Bradford Pkwy Springfield, MO.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Approximately 2,493 SF total, with 2,082 SF finished office space and 411 SF unfinished storage; Third‑floor office condominium within an ADA‑compliant, Class‑A office building; Dedicated media room plus video production and editing area
