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    The Largest CRE Database in the US with Over 1 Million Listings

    3604 Chestnut Expy Springfield, MO 65802

    Sponsored
    For Sale
    $2,880,400

    Prime Springfield commercial land, high traffic, development opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    413
    This exceptional 8.78-acre commercial property in Springfield, Missouri, presents a unique development opportunity. Located at 3604 W Chestnut Expy, 65802, this strategically positioned land benefits from high traffic counts due to its location on Chestnut Expressway and the West Bypass, a major intersection with a traffic light. The property offers easy access to I-44, US Highway 60, and the James River Expressway, ensuring excellent connectivity. The surrounding area is experiencing significant growth, with recent developments including Allison Sports Town, Mercy Medical, Walmart, Target, Menards, and more. This large parcel is one of the last remaining opportunities for development at this key intersection, attracting national brands. The property's zoning includes Residential Town House (southeast) and Highway Commercial (north), offering flexibility for various development plans. Consideration will be given to build-to-suit options, pad site leases, and parcel division, subject to acceptable terms. The Enhanced Enterprise Zone designation provides additional incentives. This property is ideally situated for businesses seeking high visibility and convenient access to major transportation routes and Springfield's key attractions, including Bass Pro Shops, Wonders of Wildlife, and various arenas. Two parcels comprise the total acreage.

    Property Features for 3604 Chestnut Expy

    General Information

    Property type
    Land
    Lot Size
    382,457 SF

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    Listing Contact
    Brian Snyder

    Learn more

    Property Insight Report

    HighLights

    • $2,880,400 asking price for 8.78 acres of commercial land.
    • Located at 3604 W Chestnut Expy, Springfield, MO 65802, in Greene County.
    • Zoned Residential Townhouse (SE portion) and Highway Commercial (N portion), offering development flexibility.
    • High traffic counts and visibility due to Chestnut Expressway and West Bypass intersection.
    • Excellent access to I‑44, US Hwy 60, and James River Expressway, near major retailers and Springfield‑Branson National Airport.
    • Enhanced Enterprise Zone opportunity, with potential for build‑to‑suit, pad site lease, or subdivision.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Hotel & Motel Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.350326800941
    Latitude
    37.212298518205

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    FAQs

    What type of property is this?
    Land - Prime Springfield commercial land, high traffic, development opportunity.
    Where is this land located?
    The property is located at 3604 Chestnut Expy Springfield, MO.
    What is the asking price?
    The asking price for this property is $2,880,400.
    What are key features of this property?
    This property features: $2,880,400 asking price for 8.78 acres of commercial land.; Located at 3604 W Chestnut Expy, Springfield, MO 65802, in Greene County.; Zoned Residential Townhouse (SE portion) and Highway Commercial (N portion), offering development flexibility.
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    Springfield, MO 65802
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    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
    3604 Chestnut Expy Springfield, MO 65802
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    We can help!
    Listing Contact
    Brian Snyder
    Real Estate License ID: MO 2021035948
    Learn more
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