Floorcovering Retail Space With
New
For Sale
$3,654,000
3560 E Evergreen St, Springfield, MO 65803
Build-to-suit property combining a customer showroom with warehouse and distribution functionality.
Property Size15,120 SF
Days on Market3
Property Features for 3560 E Evergreen St
General Information
Standard status
Active
Size
15,120 SF
Property subtype
Retail
Building Details
Building Size
15,120 SF
Year Built
2026
Tenancy
Single
Listing Agency:
CP Partners
Listed By:
John Andreini · License #CalDRE #01440360
(415) 274-2715
Source:
Cppcre
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 4 at 5:39AM
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 CP Partners
Investment Insights
Based on property information with market context.
This retail property is a 2026 build-to-suit designed for Sherwin-Williams’ Floorcovering Store format. The larger-format concept includes a complete flooring showroom along with warehouse and distribution capabilities, supporting both customer-facing retail activity and product handling within one facility.
The property is subject to a new 10-year lease signed by The Sherwin-Williams Company. Contractual rent increases are scheduled at 10% every 5 years during the base term and option periods. Sherwin-Williams carries an investment-grade BBB rating from S&P. The property is located at 3560 E Evergreen St in Springfield, Missouri.
The property is subject to a new 10-year lease signed by The Sherwin-Williams Company. Contractual rent increases are scheduled at 10% every 5 years during the base term and option periods. Sherwin-Williams carries an investment-grade BBB rating from S&P. The property is located at 3560 E Evergreen St in Springfield, Missouri.
Key Highlights
- New 10‑year lease signed by The Sherwin‑Williams Company
- 2026 build‑to‑suit construction based on the tenant’s Floorcovering Store prototype
- Full flooring showroom paired with warehouse and distribution capabilities
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
$112,524
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
3.08%
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%
$2,250,480
$2.3M
Cap Rate 7%
$1,607,486
$1.6M
Cap Rate 9%
$1,250,267
$1.3M
Market Conditions
NOI Build-Up for 15,120 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
$166.9K $11.04/SF
− Vacancy
−$6.2K −$0.41/SF
EGI
$160.7K $10.63/SF
− OpEx
−$48.2K −$3.19/SF
NOI
$112.5K $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%
$2,250,480
Cap Rate 7%
$1,607,486
Cap Rate 9%
$1,250,267
Alternative Uses
Best Use
Retail
$1.61M
$1.41M – $1.88M
NOI $112,524 @ 7.0% cap · market cap 3.08%
Second Best
Warehouse
$841.2K
$736.1K – $981.4K
NOI $58,884 @ 7.0% cap · market cap 1.61%
Theoretical Best
Office A
$2.28M
$2.00M – $2.66M
NOI $159,747 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Build-to-suit property combining a customer showroom with warehouse and distribution functionality.
Where is this retail space located?
The property is located at 3560 E Evergreen St Springfield, MO.
What is the asking price?
The asking price for this property is $3,654,000.
What are key features of this property?
This property features: New 10‑year lease signed by The Sherwin‑Williams Company; 2026 build‑to‑suit construction based on the tenant’s Floorcovering Store prototype; Full flooring showroom paired with warehouse and distribution capabilities
