Commercial Real Estate Market in Springfield, MO
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
931 active listings and 5,720 off-market properties in Springfield, MO. Commercial property asks $203/SF to buy and $15.22/SF/Yr to lease.
Market Trends
Springfield, MO spans 225.8 square miles in Greene County, Missouri. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Springfield, MO runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Springfield, MO runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Springfield, MO runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily space in Springfield, MO asks $135/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 45.5%
- Industrial 27.2%
- Planned_development 10.4%
- Commercial 10.3%
- Civic 5.8%
- Mixed use 0.1%
Largest Zones share of zoned land by district
Single Family Residential
Heavy Manufacturing
General Manufacturing
Planned Development
Government And Institutional
Springfield, MO zones 44,462 acres across 31 districts. Commercial zoning covers 10.3% of zoned land, residential 45.5% and industrial 27.2%. The largest single district is Single Family Residential at 38.8%. For commercial buyers the practical constraint is that only 37.5% of land carries a commercial or industrial designation.
General Manufacturing (GM)
Sec. 36-432. - GM - General manufacturing district. (1) Purpose. The GM general manufacturing district is designed as the basic manufacturing district for Springfield. The use limitations for this district are set so that most industrial uses that are reasonably careful with respect to housekeeping and external impacts will be able to comply. Areas zoned GM…
Market overview
Demographics & Economy
Springfield, MO has 235,840 residents in 111,576 households. Density runs 1,045 people per square mile. Median household income here is $56,995 and median gross rent $939 a month.
235,840
Population
111,576
Households
2.1
Avg Household Size
37
Median Age
33%
College-Educated
93%
High-School Grad
225.8 sq mi
ZIP Area
1,045
Density / Sq Mi
$56,995
Median Household Income
$36,807
Median Earnings
$939
Median Rent
$193,210
Median Home Value
Tools
Lease vs Buy Breakeven
At $15.22/SF/Yr lease vs $203/SF buy → buying wins if held > 2.6 years.
At a 7.5% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Sharon | — | — |
| Battlefield | — | — |
| Turners | — | — |
| Willard | — | — |
Commercial property in Springfield, MO asks $203/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Springfield?
Commercial property in Springfield, MO asks an average of $203 per square foot. Multifamily carries the highest asking price at $135/SF.
How much does it cost to lease commercial space in Springfield?
Asking lease rates in Springfield, MO average $15.22 per square foot per year.
Is it cheaper to lease or buy commercial space in Springfield?
Buying beats leasing in Springfield, MO if the property is held longer than 2.6 years, comparing $15.22/SF/Yr asking rent with $203/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Springfield?
Springfield, MO zones 44,462 acres across 31 districts, of which 10.3% is commercial and 27.2% industrial. The largest single district is Single Family Residential at 38.8% of zoned land. Residential zoning covers 45.5% and open space 0%.
Where does Realmo's Springfield market data come from?
Realmo compiles Springfield, MO figures from 697 active sale listings, 234 active lease listings, 5,720 tracked off-market properties, the current Springfield zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 697 active for-sale and 234 active for-lease listings in Springfield, MO. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 44,462 zoned acres across 31 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
