Manufacturing/Warehouse Building on Kansas
For Sale
$2,000,000
631 S Kansas Ave, Springfield, MO 65802
Manufacturing and warehouse building for sale near Interstate 44.
Property Size18,215 SF
Price / SF$109.80
Days on Market272
Property Features for 631 S Kansas Ave
General Information
Standard status
Active
Size
18,215 SF
Property subtype
Industrial
Building Details
Building Size
18,215 SF
Year Built
1972
Listing Agency:
SVN | Rankin Company
(417) 818-8894
Listed By:
Lee McLean III, SIOR, CCIM
(417) 818-8894
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 14
Last Checked: May 8 at 10:28PM
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
Investment Insights
Based on property information with market context.
This manufacturing and warehouse building is available for sale on Kansas Expressway in Springfield, MO. Approximately half of the 18,215 square foot building is dedicated to office space, with the remainder serving as manufacturing/production and warehouse space. The production areas feature ceiling heights ranging from 16 feet 9 inches to 18 feet 4 inches. The property includes two dock-high doors. The building offers remodeled office space on both the first and second floors, along with a break room and additional support rooms. The offering includes an additional lot at 626 S. Kansas Ave., which has been used for additional parking. The property is located at the intersection of South Kansas Expressway and West Mt Vernon Street, minutes from Interstate 44, the Springfield Central Business District, and Missouri State University. Nearby businesses include Paul Mueller Company, Meek's Building Supply, Ozark Fence, and Jordan Valley Health, along with other local and national companies.
Key Highlights
- Manufacturing/Warehouse building with 18,215 SF of space.
- Located on Kansas Expressway, minutes from Interstate 44, the Springfield Central Business District, and Missouri State University.
- Includes additional lot at 626 S. Kansas Ave. for parking.
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
$70,938
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
3.55%
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%
$1,418,760
$1.4M
Cap Rate 7%
$1,013,400
$1.0M
Cap Rate 9%
$788,200
$788.2K
Market Conditions
NOI Build-Up for 18,215 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
$85.2K $4.68/SF
− Vacancy
−$1.8K −$0.10/SF
EGI
$83.5K $4.58/SF
− OpEx
−$12.5K −$0.69/SF
NOI
$70.9K $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%
$1,418,760
Cap Rate 7%
$1,013,400
Cap Rate 9%
$788,200
Alternative Uses
Best Use
Warehouse
$1.01M
$886.7K – $1.18M
NOI $70,938 @ 7.0% cap · market cap 3.55%
Second Best
Industrial
$834.6K
$730.2K – $973.7K
NOI $58,419 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,447 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Explore this area
Business Placement
Demographics for 65802, MO
48,233
Population
20,199
Households
2.4
Avg Household Size
35
Median Age
26%
College-Educated
89%
High-School Grad
61.4 sq mi
ZIP Area
786
Density / Sq Mi
$51,080
Median Household Income
$34,298
Median Earnings
$900
Median Rent
$162,400
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?
Manufacturing property - Manufacturing and warehouse building for sale near Interstate 44.
Where is this manufacturing property located?
The property is located at 631 S Kansas Ave Springfield, MO.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Manufacturing/Warehouse building with 18,215 SF of space.; Located on Kansas Expressway, minutes from Interstate 44, the Springfield Central Business District, and Missouri State University.; Includes additional lot at 626 S. Kansas Ave. for parking.
