Retail/Office Complex on 5.66
For Sale
Contact for pricing
3003-3047 S Kansas Expressway, Springfield, MO 65807
47,500 SF retail/office complex across from Hy-Vee.
Property Size47,500 SF
Lot Size5.66 Acres
Price / SF$128.42
Days on Market1516
Property Features for 3003-3047 S Kansas Expressway
General Information
Standard status
Active
Size
47,500 SF
Lot size
5.66 Acres
Property subtype
Land, Mixed Use, Office, Retail
Zoning
General Retail
Lease Type
NNN
Building Details
Buildings
4
Tenancy
Multi
Listing Agency:
Bill Beall Co
Listed By:
Joni Mashburn · License #2001029451
Source:
Crexi
Added: Jun 28, 2022
Changed: Aug 8
Last Checked: Aug 8 at 11:22AM
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 Bill Beall Co
Investment Insights
Based on property information with market context.
This 47,500 square foot retail and office complex comprises four buildings situated on 5.66 acres. The property is located across from the Hy-Vee at South Kansas Expressway and West Battlefield Road. The leases are structured as triple-net, with each tenant responsible for their proportionate share of real estate taxes, insurance, and common area maintenance. Current tenants include WellSpring School of Allied Health, Paul Mitchell The School, Hanger Prosthetics, and J&M Engineering.
Key Highlights
- 47,500 SF retail/office complex in 4 buildings.
- Located on 5.66 acres across from Hy‑Vee at S. Kansas Expressway and W. Battlefield Rd.
- Triple‑Net Leases in place.
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
$376,388
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
6.17%
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%
$7,527,760
$7.5M
Cap Rate 7%
$5,376,971
$5.4M
Cap Rate 9%
$4,182,089
$4.2M
Market Conditions
NOI Build-Up for 47,500 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
$524.4K $11.04/SF
− Vacancy
−$22.5K −$0.47/SF
EGI
$501.9K $10.57/SF
− OpEx
−$125.5K −$2.64/SF
NOI
$376.4K $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 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%
$7,527,760
Cap Rate 7%
$5,376,971
Cap Rate 9%
$4,182,089
Alternative Uses
Best Use
Office B
$5.38M
$4.70M – $6.27M
NOI $376,388 @ 7.0% cap · market cap 6.17%
Second Best
Mixed Use
$5.08M
$4.44M – $5.92M
NOI $355,359 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$7.17M
$6.27M – $8.36M
NOI $501,851 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
Explore this area
Business Placement
Demographics for 65807, MO
55,168
Population
28,546
Households
1.9
Avg Household Size
36
Median Age
33%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
2,627
Density / Sq Mi
$50,271
Median Household Income
$33,510
Median Earnings
$994
Median Rent
$174,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 47,500 SF retail/office complex across from Hy-Vee.
Where is this mixed-use property located?
The property is located at 3003-3047 S Kansas Expressway Springfield, MO.
What is the asking price?
The asking price for this property is $6,100,000.
What are key features of this property?
This property features: 47,500 SF retail/office complex in 4 buildings.; Located on 5.66 acres across from Hy‑Vee at S. Kansas Expressway and W. Battlefield Rd.; Triple‑Net Leases in place.
