Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1425 Washington Ave Springfield, MO 65802-1937
    Back to Search
    Property profile & analytics

    1425 Washington Ave, Springfield, MO 65802-1937

    View on Map
    • Parking lots & garages
    • 0.38 lot acres
    Off-Market
    Property ID
    US48-0998370
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Parking lots & garages

    Property Details for 1425 Washington Ave

    Lot size
    0.38 lot acres
    Property type
    Parking lots & garages
    APN
    88-13-13-202-017
    APU
    881313202017

    Description

    This unique 750-square-foot commercial space, located in the historic former Boyd Elementary School, presents a remarkable opportunity for a variety of businesses. Part of a larger redevelopment project, this property offers a blend of historical charm and modern convenience. The space is currently vacant and available for immediate occupancy. The adaptable layout is suitable for a range of uses, including traditional office space, coworking, fitness studios, retail, or yoga studios. The building features a single suite, with no possibility of dividing the space further. The redevelopment plan includes the conversion of the existing school building into 17 multi-family loft-style apartments, creating a vibrant mixed-use community. This will provide a built-in customer base and increased foot traffic for the commercial tenants. The property benefits from convenient on-site parking and excellent walkability, situated just one block from Drury University and within walking distance of historic Commercial Street and Downtown Springfield. Its proximity to numerous district amenities and its location adjacent to the future Kingdom Coffee shop make this an ideal location for a neighborhood-focused business seeking high visibility and strong community engagement. The space is perfect for local businesses looking to establish a presence in a thriving and rapidly developing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.2861
    Latitude
    37.2246
    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
    $820
    $12,860
    $0.00
    $12,860
    -
    $40,200
    $0.00
    $40,200

    Comparable in this City

    • Value Estimation by Request
      1.50 Acres

      4395 Calhoun St

      PARKING GARAGE, PARKING STRUCTURE
      4395 Calhoun St, Springfield, MO 65802
      View Details
    • Value Estimation by Request
      1.80 Acres

      Missouri Ave

      PARKING GARAGE, PARKING STRUCTURE
      Missouri Ave, Springfield, MO 65802
      View Details
    • Value Estimation by Request
      686 SF

      413 Nettleton Ave

      PARKING GARAGE, PARKING STRUCTURE
      413 Nettleton Ave, Springfield, MO 65802-4226
      View Details
    • Value Estimation by Request
      12,472 SF

      946 Trfy St

      PARKING GARAGE, PARKING STRUCTURE
      946 Trfy St, Springfield, MO 65802-3672
      View Details
    • Value Estimation by Request
      0.66 Acres

      Chestnut St

      PARKING GARAGE, PARKING STRUCTURE
      Chestnut St, Springfield, MO 65802
      View Details
    • Value Estimation by Request
      2.03 Acres

      205 Ingram Ml Rd

      PARKING GARAGE, PARKING STRUCTURE
      205 Ingram Ml Rd, Springfield, MO 65802
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,073 SF

      Corner Lot Car Lot

      Active car lot on busy Glenstone Ave with high visibility.
      703 S Glenstone Ave, Springfield, MO 65802
      View Details
    • Contact for pricing
      4,286 SF

      Prime Springfield Retail Opportunity

      High-traffic location near universities and downtown Springfield.
      620 N National Ave, Springfield, MO 65802
      View Details
    • $295,000

      Springfield Shop Building with Vacant Lot

      4,160 SF shop building with fenced yard and vacant lot.
      1460 N Forest Ave, Springfield, MO 65802
      View Details
    • Contact for pricing
      2,800 SF

      NW Springfield Shops For Sale

      2,800 SF shops with lift and paint booth.
      701 N Canton Ave, Springfield, MO 65802
      View Details
    • $269,900
      0.19 Acres

      Versatile Commercial Property in Springfield

      Adaptable commercial property near Route 66, ideal for diverse businesses.
      1646 Estate Ave E, Springfield, MO 65802
      View Details
    • $100,000
      Pending

      Commercial Lot on Division Street

      0.54+/- acre commercial lot with heavy manufacturing zoning.
      2320 W Division St, Springfield, MO 65802
      View Details

    Similar Nearby for Lease

    • 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
    • $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
      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
    • Contact for pricing

      Office/Retail Space on Chestnut Expy

      High-traffic office/retail space available for lease on Chestnut Expy.
      601 N National Ave, Springfield, MO 65802
      View Details
    • Contact for pricing

      Prime Retail Space in Springfield

      Versatile commercial property with ample parking and high visibility.
      615 S Scenic Ave, 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.
    1425 Washington Ave
    Springfield, MO 65802-1937
    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
    1425 Washington Ave, Springfield, MO, 65802
    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!