Office Building with Conference
For Sale
Contact for pricing
505-509 W Olive St, Springfield, MO 65806
Office property combines collaborative workspace, private support areas, and a three-year lease term.
Property Size3,220 SF
Price / SF$110.25
Days on Market158
Property Features for 505-509 W Olive St
General Information
Standard status
Active
Size
3,220 SF
Property subtype
OFFICE
Listing Agency:
SVN | Rankin Company, LLC
(417) 887-8826
Listed By:
Jack Rankin · License #2018038830
(417) 860-9951
Source:
Moodyscre
Added: May 13
Changed: Oct 12
Last Checked: Oct 16 at 10:30AM
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 office building contains 3,220 square feet arranged for professional operations, with a reception area, kitchenette, conference room, cubicle stations, two restrooms, an IT and storage closet, and an expansive bullpen area. The layout supports a range of office configurations without relying on a single work style.
The property is positioned in downtown Springfield and is offered with a three-year lease. The lease is associated with an 11% return, providing an established occupancy structure for the next owner.
The property is positioned in downtown Springfield and is offered with a three-year lease. The lease is associated with an 11% return, providing an established occupancy structure for the next owner.
Key Highlights
- 3,220 SF office building in downtown Springfield
- Three‑year lease in place
- 11% return associated with the lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,515
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,300
$510.3K
Cap Rate 7%
$364,500
$364.5K
Cap Rate 9%
$283,500
$283.5K
Market Conditions
NOI Build-Up for 3,220 SF
Gross rent
$35.5K $11.04/SF
− Vacancy
−$1.5K −$0.47/SF
EGI
$34.0K $10.57/SF
− OpEx
−$8.5K −$2.64/SF
NOI
$25.5K $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 Rate 5%
$510,300
Cap Rate 7%
$364,500
Cap Rate 9%
$283,500
Alternative Uses
Best Use
Office B
$364.5K
$318.9K – $425.3K
NOI $25,515 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$486.0K
$425.3K – $567.0K
NOI $34,020 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,062
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
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Office property combines collaborative workspace, private support areas, and a three-year lease term.
Where is this office building located?
The property is located at 505-509 W Olive St Springfield, MO.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 3,220 SF office building in downtown Springfield; Three‑year lease in place; 11% return associated with the lease
