Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Duplex Package Near Kansas Expressway Title is generated by Realmo AI

    1820-1824 W Walnut St, Springfield, MO 65806

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Two duplexes near Kansas Expressway in Springfield, fully occupied.

    Type:Multifamily
    Property size:
    1,664 SF
    Price / SF:
    $222/SF
    Added:
    Feb 22, 2024
    Days on Market:
    831
    Last Refresh:
    May 12 at 10:09 pm

    Property Features for 1820-1824 W Walnut St

    General Information

    Standard status
    Active
    Size
    1,664 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1995

    We can help!

    Listing Contact
    Jennifer Jackson

    Listing agent Jennifer Jackson License #2025028715

    Listing office The Firm Real Estate, LLC

    Listing date Feb 22, 2024

    Source Crexi

    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 The Firm Real Estate, LLC

    HighLights

    • 100% Occupied Duplex Package: Immediate income generation from four fully rented units.
    • Prime Location: Situated on W Walnut St near Kansas Expressway, offering easy access to Springfield and Historic Downtown.
    • Strong Rental Potential: Each unit features 2 bedrooms and 1 bathroom, a desirable layout for renters.
    • Sizeable Units: Each unit offers 845 sf of living space.
    • Established in 1995: Relatively newer construction compared to other properties.
    • Convenient Amenities: Common area includes two concrete‑mounted picnic tables.

    Overview

    This offering features a package of two duplexes located on West Walnut Street, near Kansas Expressway in Springfield, Missouri. The location provides convenient access to Springfield and is within minutes of Historic Downtown Springfield. Each of the four units offers 845 square feet of living space, with a layout of two bedrooms and one bathroom. The properties are currently 100% occupied. The common area between the two units includes two concrete-mounted picnic tables. Neighboring businesses include the Route 66 Car Museum, College Street Cafe, Kum & Go, Jordan Valley Ice Park, Flame Steak House, Missouri State University, Dairy Queen, Little Caesars Pizza, Boys & Girls Club, and Walgreens, along with other local and national businesses. Springfield, Missouri, offers outdoor and cultural experiences and is a regional hub with big-city amenities and small-town hospitality.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.316576
    Latitude
    37.2071411

    Nearby Similar for Sale

    • $690,000
      2,700 SF

      Professional Office Building in Springfield

      Standalone office building suitable for medical, professional, or administrative uses.
      1661 W Elfindale Street, Springfield, MO 65807
      View Details
    • $699,000
      2,150 SF

      Updated Office on High-Traffic Street

      Remodeled Class B office building on a busy commercial corridor.
      2760 E Sunshine Street, Springfield, MO 65804
      View Details
    • $625,000

      Updated Office Building Near University

      Two-story commercial office building with income potential near Evangel.
      1331 N Stewart Avenue, Springfield, MO 65802
      View Details
    • $1,600,000

      Fully Leased Office Complex

      All brick office complex with excellent visibility and stable occupancy.
      600 W Republic Road, Springfield, MO 65807
      View Details
    • $1,850,000
      9,520 SF

      Commercial Facility on 5.18 Acres

      Commercial facility with secured yard and expansion potential.
      1468 S State Highway T, Springfield, MO 65802
      View Details
    • $130,000
      1,600 SF

      Versatile Office Building on Scenic

      Adaptable office space with high visibility and ample parking.
      426 S Scenic Avenue, Springfield, MO 65802
      View Details
    • $250,000
      2,874 SF

      Former Restaurant on Historic Walnut

      Former restaurant near Downtown Springfield and Missouri State University.
      1129 E Walnut Street, Springfield, MO 65806
      View Details
    • $325,000
      9,290 SF

      Springfield Warehouse with Crossdock

      9,290 SF warehouse in Springfield's industrial corridor.
      1245 E Commercial Street, Springfield, MO 65803
      View Details
    • $164,999
      1,368 SF

      Renovated Commercial Space in Springfield

      Versatile commercial space ideal for various small business ventures.
      2240 N Grant Avenue, Springfield, MO 65803
      View Details
    • $2,000
      2,920 SF

      Versatile Commercial Property on Kearney

      Two buildings, high visibility, ideal for office, retail, or warehouse.
      419 W Kearney Street, Springfield, MO 65803
      View Details
    • $1,500,000
      15,326 SF

      Versatile Industrial Property For Sale

      15,326 SF industrial property with high visibility and highway access.
      1325 E Trafficway Street, Springfield, MO 65802
      View Details
    • $5,000,000

      Commercial Property in Active Corridor

      High-visibility commercial property in Springfield's active commercial corridor.
      3340 E Cherry Street, Springfield, MO 65802
      View Details

    FAQs

    What type of property is this?
    Duplex - Two duplexes near Kansas Expressway in Springfield, fully occupied.
    Where is this duplex located?
    The property is located at 1820-1824 W Walnut St Springfield, MO.
    What is the asking price?
    The asking price for this property is $370,000.
    What are key features of this property?
    This property features: 100% Occupied Duplex Package: Immediate income generation from four fully rented units.; Prime Location: Situated on W Walnut St near Kansas Expressway, offering easy access to Springfield and Historic Downtown.; Strong Rental Potential: Each unit features 2 bedrooms and 1 bathroom, a desirable layout for renters.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jennifer Jackson
    Real Estate License ID: 2025028715
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1820-1824 W Walnut St, Springfield, MO 65806
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!