Medical Retail Strip
New
For Sale
Contact for pricing
3233 E Sunshine Street, Springfield, MO 65804
Fully occupied multi-tenant retail center with national and healthcare-oriented occupants under NNN leases.
Property Size9,410 SF
Lot Size1.25 Acres
Price / SF$244.42
Days on Market5
Property Features for 3233 E Sunshine Street
General Information
Standard status
Active
Size
9,410 SF
Class
A
Lot size
1.25 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$169,991
Site & Location
Anchor Co-Tenants
Mercy GoHealth Urgent Care, Jimmy John's
Highway Access
Yes
Building Details
Year Built
2014
Buildings
1
Units
5
Tenancy
Multi
Listing Agency:
Klamen Commercial Advisors
Listed By:
Jake Klamen · License #MO 2019001177
Source:
Crexi
Added: Aug 31
Changed: Sep 3
Last Checked: Sep 3 at 2:36AM
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 Klamen Commercial Advisors
Investment Insights
Based on property information with market context.
This 9,410 SF strip center was completed in 2014 and contains five retail suites. The property is fully leased, with Mercy GoHealth Urgent Care and Jimmy John's serving as prominent occupants alongside Wax Coven, True Test, and Supplement Superstore. Each lease is structured on a triple-net basis, and the rent roll is staggered with a weighted average lease term of 5.48 years.
The center occupies 1.25 acres at 3233 E. Sunshine Street in Springfield, Missouri, near the interchange with Highway 65. A Walmart Neighborhood Market is located along the same corridor, which is supported by a five-mile population base of nearly 133,000 residents. The tenant roster includes Jimmy John's, which has occupied its space since 2015, and the leases include built-in rent growth.
The center occupies 1.25 acres at 3233 E. Sunshine Street in Springfield, Missouri, near the interchange with Highway 65. A Walmart Neighborhood Market is located along the same corridor, which is supported by a five-mile population base of nearly 133,000 residents. The tenant roster includes Jimmy John's, which has occupied its space since 2015, and the leases include built-in rent growth.
Key Highlights
- Fully leased five‑tenant strip center on 1.25 acres
- 9,410 SF property built in 2014
- All five leases structured on a triple‑net basis
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
$70,030
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
3.04%
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%
$1,400,600
$1.4M
Cap Rate 7%
$1,000,429
$1.0M
Cap Rate 9%
$778,111
$778.1K
Market Conditions
NOI Build-Up for 9,410 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
$103.9K $11.04/SF
− Vacancy
−$3.8K −$0.41/SF
EGI
$100.0K $10.63/SF
− OpEx
−$30.0K −$3.19/SF
NOI
$70.0K $7.44/SF
Area
Springfield, MO
Vacancy
3.70%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,400,600
Cap Rate 7%
$1,000,429
Cap Rate 9%
$778,111
Alternative Uses
Best Use
Retail
$1.00M
$875.4K – $1.17M
NOI $70,030 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,419 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
575
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied multi-tenant retail center with national and healthcare-oriented occupants under NNN leases.
Where is this strip mall located?
The property is located at 3233 E Sunshine Street Springfield, MO.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Fully leased five‑tenant strip center on 1.25 acres; 9,410 SF property built in 2014; All five leases structured on a triple‑net basis
