Back to Search
Northwest Springfield Warehouse For Sale

1515 W Division St Springfield, MO 65802

Claim this Listing
For Sale
Contact for pricing

71,599 SF warehouse with tenant and value-add opportunity.

Type:Industrial
Property size:
71,599 SF
Price / SF:
$38.76/SF
Added:
Nov 14, 2023
Days on Market:
972
Last Refresh:
May 12 at 9:29 pm

Property Features for 1515 W Division St

General Information

Standard status
Active
Size
71,599 SF
Property subtype
Industrial

Listing office SVN Rankin Company, LLC

Listing date Nov 14, 2023

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 SVN Rankin Company, LLC


Investment Insights

Based on property information with market context.

This 71,599 SF warehouse is available for sale in Northwest Springfield, Missouri. Approximately 35,500 SF is occupied by a tenant with a new 10-year lease signed in November 2023. The remaining half of the building is a vacant warehouse, presenting a value-add opportunity for an owner-user or investor. The property is located at the northeast corner of Division Street and N Kansas Expressway in Northwest Springfield, with a combined traffic count of over 39,000 vehicles per day. Neighboring businesses and institutions include O'Rielly Auto Parts, City Utilities, Paul Mueller Company, Carsten Auto Glass, and the Greene County Highway Department.

Key Highlights

  • 71,599 SF warehouse with income potential.
  • +\/- 35,500 SF leased to a credit‑worthy tenant with a new 10‑year lease (signed Nov 2023).
  • Value‑add opportunity with vacant +\/- 36,099 SF warehouse space.

Local Financial Insights For Industrial

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $335.1k $4.68
− Vacancy −$7.0k −$0.10
EGI $328.0k $4.58
− OpEx −$98.4k −$1.37
NOI $229.6k $3.21
71,599 SF · lease $4.68/SF/yr · vacancy 2.10% · expense 30.00%

Alternative Uses

Best Use
Warehouse
$3.98M
$3.49M – $4.65M (±1% cap)
NOI $278,840 @ 7.0% cap · market cap 10.05%
Second Best
Industrial
$3.28M
$2.87M – $3.83M (±1% cap)
NOI $229,633 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$10.81M
$9.46M – $12.61M (±1% cap)
NOI $756,463 @ 7.0% cap · market cap 27.26%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Home Outlet Building Supply

Suggested Use

Real Estate Agency Restaurant Dental Office Law Firm Spa & Massage Center Building Supply Hair Salon Nail Salon Big Box & Wholesale Store Gym & Fitness Center

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

Similar Off Market Nearby

  • Pack-N-Stack Mini Storage of Springfield - Commercial St — 628 W Chase St, Springfield, MO 65803
  • ACCESS RV & BOAT STORAGE — 1819 W Division St, Springfield, MO 65802

FAQs

What type of property is this?
Warehouse - 71,599 SF warehouse with tenant and value-add opportunity.
Where is this warehouse located?
The property is located at 1515 W Division St Springfield, MO.
What is the asking price?
The asking price for this property is $2,775,000.
What are key features of this property?
This property features: 71,599 SF warehouse with income potential.; +\/- 35,500 SF leased to a credit‑worthy tenant with a new 10‑year lease (signed Nov 2023).; Value‑add opportunity with vacant +\/- 36,099 SF warehouse space.
Contact an agent
(417) 860-9951 Call to check price and availability
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