Flex Space with
For Sale
$250,000
Pending
419 W Kearney Street, Springfield, MO 65803
Commercial Sale, Springfield, MO
Property Size3,640 SF
Lot Size0.24 Acres
Days on Market405
Property Features for 419 W Kearney Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INC
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Subdivision
Oak Ridge Add
Directions
Located at near the intersection of Kearney and N Campbell Ave.
Standard status
Pending
APN
881302417021
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
OAK RIDGE ADD E 71 FT LOTS 13 14 & 15 & 10 FT LY S & ADJ BLK 6
Tax Annual Amount
2089
Legal Description
OAK RIDGE ADD E 71 FT LOTS 13 14 & 15 & 10 FT LY S & ADJ BLK 6
Utilities
Utilities
Water Available
Building Details
Year built
1942
Number of units
2
Listing Agency:
Keller Williams Local · Keller Williams Realty
(417) 883-4900
Listed By:
417 Property Pros · License #MO2021038459
(417) 501-6077
Added: Jul 22, 2025
Changed: Aug 25
Last Checked: Aug 30 at 11:06PM
MLS# 60300340
Copyright © 2026 Southern Missouri Regional MLS, LLC (SOMO). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property includes separate front and rear buildings configured for office and warehouse functions. The front structure contains 720 square feet and was previously used as a commercial kitchen; kitchen equipment is not included. A 2,920-square-foot warehouse occupies the rear portion of the property, while a bathroom is also present.
The site encompasses 0.24 acres at 419 W Kearney Street in Springfield, Missouri. Kearney Street carries reported traffic of more than 31,000 cars per day, providing a prominent setting for commercial operations. The property is zoned INC, with water available.
The site encompasses 0.24 acres at 419 W Kearney Street in Springfield, Missouri. Kearney Street carries reported traffic of more than 31,000 cars per day, providing a prominent setting for commercial operations. The property is zoned INC, with water available.
Key Highlights
- Two‑building flex property with a 720‑square‑foot front building and 2,920‑square‑foot rear warehouse
- Front building was previously used as a commercial kitchen; equipment is excluded
- Rear warehouse provides 2,920 square feet of dedicated industrial space
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
$14,176
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
5.67%
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%
$283,520
$283.5K
Cap Rate 7%
$202,514
$202.5K
Cap Rate 9%
$157,511
$157.5K
Market Conditions
NOI Build-Up for 3,640 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
$17.0K $4.68/SF
− Vacancy
−$358 −$0.10/SF
EGI
$16.7K $4.58/SF
− OpEx
−$2.5K −$0.69/SF
NOI
$14.2K $3.89/SF
Area
Springfield, MO
Vacancy
2.10%
Lease Rate
$4.68 /SF/Yr
Expense Ratio
15.00%
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%
$283,520
Cap Rate 7%
$202,514
Cap Rate 9%
$157,511
Alternative Uses
Best Use
Office B
$412.0K
$360.5K – $480.7K
NOI $28,843 @ 7.0% cap · market cap 11.54%
Second Best
Warehouse
$202.5K
$177.2K – $236.3K
NOI $14,176 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$549.4K
$480.7K – $641.0K
NOI $38,458 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
Under-served
Demand for This Use
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 Office 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?
Flex space - Two-building commercial property combines office capability with dedicated warehouse space on a visible commercial corridor.
Where is this flex space located?
The property is located at 419 W Kearney Street Springfield, MO.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑building flex property with a 720‑square‑foot front building and 2,920‑square‑foot rear warehouse; Front building was previously used as a commercial kitchen; equipment is excluded; Rear warehouse provides 2,920 square feet of dedicated industrial space
