Building Details

Stories 2

Listing Agency: SVN | Rankin Company, LLC Show Phone

Listed By: Jeff Childs, SIOR, CCIM · License #1999029641 Show Phone

Source: Moodyscre

Added: Apr 21, 2025 Changed: Sep 11 Last Checked: Oct 5 at 7:54PM

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Investment Insights

Based on property information with market context.

Standalone two-story office building with an attic and basement, currently occupied by a commercial tenant. The first floor includes two large rooms, one smaller room, a full kitchen, a laundry room, and one restroom. The second floor provides five rooms and an additional restroom.

The property is located along Historic Walnut Street near downtown Springfield and Missouri State University. Multiple restaurants, shops, and other amenities are within walking distance.

The building’s layout offers separate room groupings across both floors, with basement and attic space included as part of the overall improvement.

Key Highlights

• Currently occupied by a commercial tenant
• Standalone two‑story building along Historic Walnut Street
• Two floors plus attic and basement for additional space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,832

Cap Rate

5.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$516,640 $516.6K

Cap Rate 7%

$369,029 $369.0K

Cap Rate 9%

$287,022 $287.0K

Market Conditions

NOI Build-Up for 3,260 SF

Gross rent

$36.0K $11.04/SF

− Vacancy

−$1.5K −$0.47/SF

EGI

$34.4K $10.57/SF

− OpEx

−$8.6K −$2.64/SF

NOI

$25.8K $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%

$516,640

Cap Rate 7%

$369,029

Cap Rate 9%

$287,022

Alternative Uses

Best Use

Office B

$369.0K

$322.9K – $430.5K (±1% cap)

NOI $25,832 @ 7.0% cap · market cap 5.17%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$492.0K

$430.5K – $574.1K (±1% cap)

NOI $34,443 @ 7.0% cap · market cap 6.89%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Thrive & Be Well Crisis Center Holistic Real Estate ... Real Estate Agency Orchid Counseling Services, ... Counselor Candace Faith Real ... Real Estate Agency 417 Satori Wellness Program

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Wine and Liquor Store Nail Salon Catering Service Auto Parts Store Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,592

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Standalone two-story office building with multiple rooms, a kitchen, and a basement.

Where is this office building located?

The property is located at 800 E Walnut St Springfield, MO.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: Currently occupied by a commercial tenant; Standalone two‑story building along Historic Walnut Street; Two floors plus attic and basement for additional space