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    1515 Division St Springfield, MO 65802

    Sponsored
    For Sale
    $2,775,000

    71,599 SF Warehouse, Value-Add Opportunity

    Property size:
    71,599 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 71,599-square-foot industrial property in Springfield, Missouri, presents a compelling investment or owner-user opportunity. Located at 1515 W Division St, in Greene County, this property boasts a prime location at the northeast corner of Division Street and N Kansas Expressway, benefiting from over 39,000 vehicles per day in combined traffic. The building, constructed in 1997 and zoned for Heavy Manufacturing, comprises two units totaling 71,599 square feet, situated on a 2.6-acre lot. Approximately 35,500 square feet are currently leased to a credit-rated tenant under a new 10-year NNN lease commencing November 10, 2023, resulting in a 50% occupancy rate. The remaining 35,500 square feet offers significant value-add potential for an owner-occupier or investor. The asking price is $2,775,000, translating to $38.76 per square foot and a $1,387,500 price per unit. The property's strong tenant base and strategic location contribute to a Net Operating Income (NOI) of $152,278 and a 5.49% cap rate. Nearby businesses include O'Reilly Auto Parts, City Utilities, Paul Mueller Company, and more. This property is ideal for businesses seeking expansion or investors targeting a strong return on investment in a thriving market. The property is shown by appointment only.

    Property Features for 1515 Division St

    General Information

    Property type
    Distribution properties
    Square Feet
    71,599 SF
    Lot Size
    113,256 SF

    Building Details

    Units
    2

    HighLights

    • Sale Price: $2,775,000
    • Building Size: 71,599 square feet
    • Lot Size: 2.64 acres
    • Price per Square Foot: $38.76
    • Year Built: 1997
    • Zoning: Heavy Manufacturing
    Property Profile Location Intelligence

    Current Use by Public Records

    Home Outlet Home Improvement Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.310252233208
    Latitude
    37.226424428565

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    FAQs

    What type of property is this?
    Distribution property - 71,599 SF Warehouse, Value-Add Opportunity
    Where is this distribution property located?
    The property is located at 1515 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: Sale Price: $2,775,000; Building Size: 71,599 square feet; Lot Size: 2.64 acres
    Request Owner's contact information
    1515 Division St Springfield, MO 65802
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    Realmo Value Estimation

    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.

    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.

    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
    1515 Division St Springfield, MO 65802
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