2745 Glenstone AveSpringfield, MO 65803

Property Details for 2745 Glenstone Ave

Year built

1978

Lot size

2.48 AC

Property size (Sq ft)

41,600 SF

Zone code

INC

Property type

Hospitality properties

Property subtype

Hotels

APN

88-12-06-401-126

APU

881206401126

Description

This 102-key hotel, located at 2745 N Glenstone Ave, Springfield, MO 65803, presents a significant value-add opportunity. The property, boasting 41,760 square feet on a 2.48-acre lot (APN 12-06-401-126), is offered at a reduced price of $3,300,000, or $79.02 per square foot, representing a compelling $32,038 per key. Built in 1979, this three-story hotel features a mix of interior and exterior corridors, reflecting its HC permitted zoning. Its prime location in a high-traffic area places it minutes from major local attractions and nationally recognized corporate headquarters, offering convenient access to Springfield National Airport (only 10 miles away). The property's current operational status presents a chance for an investor to implement operational improvements and enhance its overall value. This represents a rare opportunity to acquire a well-situated hotel in a thriving Missouri market. The property's size and location make it an attractive investment for experienced hospitality operators seeking a value-add project with significant upside potential. The asking price reflects a substantial price reduction of $650,000, making this an even more compelling investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $9,259,300

  6.5%

  $8,547,046

  7%

  $7,936,542

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,992,773

  Geo Method

  $6,992,773

• Alternative Use

  Use

  Valuation

  Residential

  $9,330,891

  Hospitality

  $8,547,046

  Educational

  $7,111,042

  Medical

  $7,355,602

  Retail

  $11,061,621

Location Insight

City

Springfield

County

Greene

State

Missouri

Latitude

37.2471

Longitude

-93.2622

CBSA code

44180

CBSA name

SPRINGFIELD, MO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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