Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1109 Boonville Ave Springfield, MO 65802
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1109 Boonville Ave Springfield, MO 65802

    View on Map
    • Commercial real estate
    • 14,955 SF
    • 0.50 lot acres
    Off-Market
    Property ID
    US48-0454833
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,095,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1109 Boonville Ave

    Year built
    1950
    Lot size
    0.50 lot acres
    Property size
    14,955 SF
    Zone code
    INC
    Property type
    Commercial real estate
    APN
    88-13-13-209-023
    APU
    881313209023

    Description

    This exceptional three-story, 14,770 square foot shopping center is ideally situated in Springfield, Missouri's Central Business District, directly across from the Greene County Prosecutors Courthouse at 1109 N Boonville Ave, zip code 65802. Currently vacant, this property presents a unique investment opportunity for a variety of businesses. The building boasts recent exterior renovations completed in 2014, and offers convenient on-site parking. The 0.5-acre lot is zoned CC-Center City, providing flexibility for various commercial uses. With a total of 14,770 square feet spread across three floors, the building offers ample space for a single tenant or multiple occupants. The asking price is $1,300,000, translating to $88.02 per square foot. This prime location, coupled with its recent upgrades and convenient parking, makes this property an attractive investment in a thriving urban area. The property's proximity to the courthouse makes it particularly suitable for legal practices or other court-related businesses. This is a rare opportunity to acquire a well-maintained, centrally located commercial property in a high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,166,000
      Market price range: $455k - $2.71M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,655,000
      Current use
      RESTAURANT
      $1,560,000
      Change: -6% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.2927
    Latitude
    37.2205
    CBSA code
    44180
    CBSA name
    SPRINGFIELD, MO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,148
    $16,000
    $158,880
    $174,880
    -
    $50,000
    $496,500
    $546,500

    Comparable in this City

    • Value Estimation by Request
      2.89 Acres

      600 Glenstone Ave

      Land • 2.89 Acres
      600 Glenstone Ave, Springfield, MO 65802
      View Details
    • Value Estimation by Request

      2949 Chestnut Expy

      Retail properties & Spaces
      2949 Chestnut Expy, Springfield, MO 65802
      View Details
    • Value Estimation by Request
      3.70 Acres

      600 West Byp

      Land • 3.70 Acres
      600 West Byp, Springfield, MO 65802
      View Details
    • Value Estimation by Request
      2.00 Acres

      Mo-266

      Land • 2.00 Acres
      0 Mo-266, Springfield, MO 65802
      View Details
    • Value Estimation by Request
      37.00 Acres

      1201 State Highway Mm

      Land • 37.00 Acres
      1201 State Highway Mm, Springfield, MO 65802
      View Details
    • Value Estimation by Request
      0.81 Acres

      5933 Mo-266

      Land • 0.81 Acres
      5933 Mo-266, Springfield, MO 65802
      View Details

    Similar Nearby for Sale

    • $2,149,000
      2,157 SF

      Prime Springfield Starbucks Investment

      High-traffic location, strong lease, great ROI
      631 S Glenstone Ave, , MO, Springfield, MO 65802
      View Details
    • $650,000
      15.00 Acres

      Development Land in Springfield, MO

      15 acres of development land with utilities in Springfield.
      4800 W Mount Vernon St, Springfield, MO 65802
      View Details
    • Contact for pricing

      Land Near Chestnut Expwy

      5.7 acres of land near Interstate 44 intersection.
      5318 W State Highway 266, Springfield, MO 65802
      View Details
    • Contact for pricing

      Land For Sale

      1.27 acres of land available for purchase.
      3542 West Mount Vernon St, Springfield, MO 65802
      View Details
    • Contact for pricing

      Retail Development Lot For Sale

      11.53-acre retail development lot in a prime location.
      3520 E Olive St, Springfield, MO 65802
      View Details
    • Contact for pricing

      67 Acre Springfield Land Parcel

      67 acre parcel in west Springfield, zoned A-1 Agricultural.
      6500 W Farm Road 124, Springfield, MO 65802
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      Retail Space with High Visibility

      Retail spaces available on East Chestnut Expressway with high traffic.
      2937 East Chestnut Expy, Springfield, MO 65802
      View Details
    • Contact for pricing
      7,038 SF

      Retail Space with Ample Parking

      Versatile retail space with high visibility and ample parking.
      629 S Scenic Ave, Springfield, MO 65802
      View Details
    • Contact for pricing
      13,504 SF

      Modern Office Building in Springfield

      Class A office space with modern finishes and high visibility.
      430 S Glenstone Ave Unit, Springfield, MO 65802
      View Details
    • Contact for pricing

      Retail Space Near Highway 65

      Retail space featuring an open floor plan near Highway 65.
      2949 E Chestnut Expy, Springfield, MO 65802
      View Details
    • $1,500 /Mo

      Turnkey Dog Grooming Suite

      400 SF professional dog grooming suite for lease.
      3080 East Cherry St, Springfield, MO 65802
      View Details
    • $3,900 /Mo
      2,808 SF

      Retail/Office Space with Warehouse

      Retail/office suites with warehouse space available for lease.
      1701 E Saint Louis St, Springfield, MO 65802
      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.
    1109 Boonville Ave
    Springfield, MO 65802
    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.
    Sign Up Successful!
    You now have access to more from Realmo!