Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    330 Water St Springfield, MO 65806
    Property profile & analytics

    330 Water St, Springfield, MO 65806

    View on Map
    • Apartment buildings
    • 26,821 SF
    • 0.60 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Founders Park / Park / Tourist Attraction

    Property Details for 330 Water St

    Year built
    1875
    Lot size
    0.60 lot acres
    Property type
    Apartment buildings

    Description

    This exceptional investment opportunity presents the chance to acquire Founders Park Lofts, a meticulously restored 33-unit apartment building situated in the heart of downtown Springfield, Missouri. Originally constructed in 1875, this historic property underwent a complete renovation in 2004, transforming it into a collection of desirable loft apartments. The property boasts a total of 26,821 square feet across three stories within a single building on a 0.6-acre lot. The building's prime location offers residents easy access to a vibrant array of restaurants, bars, breweries, and shops, all within walking distance. This stabilized multifamily asset presents a compelling investment opportunity with significant value-add potential due to its strong, long-term local ownership and the unique market dynamics of Springfield. The property is offered free and clear of existing debt, providing a clean and attractive investment proposition. The 20-year-old systems installed during the 2004 renovation provide a solid foundation for continued operation and potential future upgrades. The property's Asset Property Number (APN) is 13-24-208-001, and its address is 330 & 331 E Water St, Springfield, MO 65806. This is a rare chance to own a piece of Springfield's rich history while capitalizing on a thriving rental market.

    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
    -93.2909
    Latitude
    37.2106

    Comparable in this City

    • Value Estimation by Request

      519 Olive St

      Multifamily properties
      519 Olive St, Springfield, MO 65806
      View Details
    • Value Estimation by Request
      7,652 SF

      920 Walnut St

      Multifamily properties
      920 Walnut St, Springfield, MO 65806
      View Details
    • Value Estimation by Request
      1,664 SF

      1820-1824 Walnut St

      Multifamily properties
      1820-1824 Walnut St, Springfield, MO 65806
      View Details
    • Value Estimation by Request
      10,434 SF

      735 South Ave

      Multifamily properties
      735 South Ave, Springfield, MO 65806
      View Details
    • Value Estimation by Request
      21,000 SF

      429 Walnut St

      Multifamily properties
      429 Walnut St, Springfield, MO 65806
      View Details
    • Value Estimation by Request

      727 Douglas Ave

      Multifamily properties
      727 Douglas Ave, Springfield, MO 65806
      View Details

    Similar Nearby for Sale

    • $925,000
      Pending

      Multifamily Portfolio Near MSU Campus

      Two 6-plex buildings near MSU, fully occupied, easy to rent.
      333 W Madison-Portfolio St, Springfield, MO 65806
      View Details
    • Contact for pricing
      4,100 SF

      Downtown Springfield Mixed-Use Property

      Fully leased mixed-use property in Downtown Springfield with historic character.
      412 South Ave, Springfield, MO 65806
      View Details
    • $2,489,900
      0.18 Acres

      Springfield Multifamily Investment Opportunity

      Portfolio of 19 properties in Springfield and Ozark, Missouri.
      503 S New Ave, Springfield, MO 65806
      View Details
    • $1,200,000
      6,743 SF

      Mixed-Use Building in Downtown Springfield

      Retail, office, and multifamily property for sale or lease.
      313 Park Central W, Springfield, MO 65806
      View Details
    • $1,300,000

      Mixed-Use Property in Downtown Springfield

      Mixed-use property with retail and apartments in Downtown Springfield.
      420 S Campbell Ave, Springfield, MO 65806
      View Details
    • $1,265,000

      Multifamily Package Near Downtown Springfield

      16-unit multifamily package near downtown Springfield, Missouri.
      608 W Walnut St, Springfield, MO 65806
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Creative Space in Historic Building

      3,000 SF creative space for lease in downtown Springfield.
      600 W College St, Springfield, MO 65806
      View Details
    • Contact for pricing
      3,680 SF

      Office/Warehouse Space For Lease

      3,680 SF office/warehouse space available for lease.
      611-621 N Washington Ave, Springfield, MO 65806
      View Details
    • $1.75 SF/Yr

      Downtown Springfield Ground Lease Opportunity

      Prime 0.48 AC ground lease in downtown Springfield.
      517 E Elm St, Springfield, MO 65806
      View Details
    • Contact for pricing
      4,300 SF

      Office Space Available For Lease

      Office suites available for lease, ranging from 1,782 to 5,500+/- sf.
      319 N Main Ave, Springfield, MO 65806
      View Details
    • $500 /Mo
      3,920 SF

      Downtown Springfield Office Space Available

      Remodeled office space in downtown Springfield with high foot traffic.
      324 Park Central W, Springfield, MO 65806
      View Details
    • $1,050 /Mo
      3,920 SF

      Downtown Springfield Retail & Office

      Remodeled retail and office space in downtown Springfield.
      324 Park Central W, 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.
    330 Water St
    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

    Thank You for Inquiry
    330 Water St, Springfield, MO, 65806
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!