Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    401 South Ave Springfield, MO 65806

    • Retail properties
    • 0.22 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Wheeler's lofts / Lodging
    • UMB Bank ATM / Atm
    • Hermann-Sanford Building / Tourist Attraction / Historical Place

    Property Details for 401 South Ave

    Year built
    1899
    Lot size
    0.22 lot acres
    Property type
    Retail properties

    Description

    This exceptional 10,102 sq. ft. retail space in Springfield, MO's vibrant downtown is housed in the renovated Wheeler's Building (2008). The property boasts a large 8,278 sq. ft. area and a smaller 1,824 sq. ft. space, both adaptable to various retail or hospitality uses. A dedicated section, perfectly suited for a cafe or deli, features a remodeled front corner. The building offers over 30 private parking stalls in an adjacent lot, a loading dock with overhead door, impressive 18-foot ceilings, and a robust 1,400-amp electrical panel. Plumbing and ventilation systems support food service, including two hoods and grease interceptors. A unique 400 sq. ft. mosaic-adorned patio provides extra outdoor space. The property also features a striking mural by Susan Sommer-Luarca. Located in a thriving downtown area with over 25,000 workers and proximity to three universities (40,000+ students), this space benefits from a lively arts and dining scene and access to city development incentives. Infill is negotiable.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.2927
    Latitude
    37.2068

    Comparable in this City

    • Value Estimation by Request
      7,500 SF

      616 Madison St

      Restaurants • 7,500 SF
      616 Madison St, Springfield, MO 65806
      View Details
    • Value Estimation
      $485,000
      31,537 SF

      134 Park Central Sq

      DEPARTMENT STORE • 31,537 SF
      134 Park Central Sq, Springfield, MO 65806-1339
      View Details
    • Value Estimation by Request
      1,656 SF

      324 Park Central

      Office space • 1,656 SF
      324 Park Central, Springfield, MO 65806
      View Details
    • Value Estimation by Request

      108 Park Central St

      Individual retail properties
      108 Park Central St, Springfield, MO 65806
      View Details
    • Value Estimation by Request
      4,878 SF

      222 Park Central

      Restaurants • 4,878 SF
      222 Park Central, Springfield, MO 65806
      View Details
    • Value Estimation by Request
      11,792 SF

      321 South Ave

      Restaurants • 11,792 SF
      321 South Ave, Springfield, MO 65806
      View Details

    Similar Nearby for Sale

    • $465,000
      2,939 SF

      Downtown Springfield Retail Gem

      Updated Brick Warehouse, Prime Location
      444 Mcdaniel St, Springfield, MO 65806
      View Details
    • $1,000,000
      11,474 SF

      Downtown Springfield Gem

      Historic building, prime location, high potential
      220 Campbell Ave, Springfield, MO 65806
      View Details
    • $950,000
      11,792 SF

      321 South Ave

      Restaurants • 11,792 SF
      321 South Ave, Springfield, MO 65806
      View Details
    • $749,000
      4,878 SF

      Historic Springfield Mixed-Use Building

      High-yield retail & loft apartments. Downtown Springfield location.
      222 Park Central, Springfield, MO 65806
      View Details
    • $1,500,000
      13,625 SF

      Downtown Springfield Bar & Retail Investment

      Prime Springfield location, two-building complex, high potential.
      311 Patton Ave, Springfield, MO 65806
      View Details
    • $350,000
      1,854 SF

      Prime Springfield Retail Space

      1,854 SF Retail Building - $350K
      633 Walnut St, Springfield, MO 65806
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      1,800 SF

      Downtown Springfield Office Space

      1800 sq ft Office, Retail Potential
      212 Mcdaniel St, Springfield, MO 65806
      View Details
    • $14 SF/Yr
      3,195 SF

      Retail Space Near Universities

      Retail space near Missouri State University, OTC, and Drury.
      631-637 S Kimbrough Ave, Springfield, MO 65806
      View Details
    • $18 SF/Yr
      7,500 SF

      Springfield Retail Center Investment

      Prime Springfield retail spaces available.
      616 Madison St, Springfield, MO 65806
      View Details
    • $12 SF/Yr
      2,178 SF

      Downtown Springfield Retail/Office Space

      First floor retail or office space in downtown Springfield.
      212 W Mcdaniel St, Springfield, MO 65806
      View Details
    • $16 SF/Yr
      6,050 SF

      Downtown Springfield Retail Space Available

      1,520 SF retail space for lease in Downtown Springfield.
      108 Park Central St East, Springfield, MO 65806
      View Details
    • $2,500 /Mo
      816 SF

      Retail Space For Lease

      Retail spaces available in Springfield, Missouri.
      607 E Madison St, Springfield, MO 65806
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    401 South Ave
    Springfield, MO 65806
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.