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    1831 Kearney St Springfield, MO 65803-1646
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    Property profile & analytics

    1831 Kearney St, Springfield, MO 65803-1646

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    • Grocery and convenience stores
    • 58,359 SF
    • 2.89 lot acres
    Off-Market
    Property ID
    US48-0966070
    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
    $3,785,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Starbucks / Cafe & Coffee Shop
    • Price Cutter Bakery / Bakery / Specialty Food Shop
    • Cardtronics ATM / Atm
    • Price Cutter Deli / Food Market / Restaurant
    • Price Cutter / Specialty Food Shop / Supermarket

    Property Details for 1831 Kearney St

    Year built
    1988
    Lot size
    2.89 lot acres
    Zone code
    INC
    Property type
    Grocery and convenience stores
    APN
    88-13-03-404-025
    APU
    881303404025

    Description

    This exceptional retail opportunity in Springfield, Missouri's Northwest Springfield submarket presents a single-tenant, 3,000-square-foot building situated on a 25,000-square-foot lot. The property, located at 1825 W Kearney St (cross streets: W Melville Rd), boasts unparalleled visibility and high traffic counts due to its strategic location just west of Kansas Expressway and in close proximity to I-44. This ensures excellent accessibility for customers. The building is a single-story structure with no elevators, ideal for a variety of retail uses. The property is zoned Commercial and has an APN of 88-13-03-404-025. The entire 3,000 square feet is currently vacant, providing a blank canvas for a new tenant to customize the space to their specific needs. This presents a unique chance to establish a thriving business in a high-demand area of Springfield, Missouri, with its zip code being 65803. The property's location offers a compelling combination of accessibility and high visibility, making it an attractive proposition for businesses seeking a strong foothold in the Springfield market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,068,000
      Market price range: $4.07M - $11.7M

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.3143
    Latitude
    37.2417
    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
    $50,552
    $175,170
    $617,860
    $793,030
    -
    $547,400
    $1,930,800
    $2,478,200

    Comparable in this City

    • Value Estimation by Request
      45,206 SF

      1137 Commercial St

      Lifestyle centers
      1137 Commercial St, Springfield, MO 65803
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    • Value Estimation
      $2,240,000
      16,792 SF

      1645 Kearney St

      GROCERY, SUPERMARKET
      1645 Kearney St, Springfield, MO 65803-4105
      View Details
    • Value Estimation
      $1,460,000
      21,281 SF

      712 Commercial St

      GROCERY, SUPERMARKET
      712 Commercial St, Springfield, MO 65803-1728
      View Details
    • Value Estimation
      $4,950,000
      46,600 SF

      1901 Division St

      GROCERY, SUPERMARKET
      1901 Division St, Springfield, MO 65803-4516
      View Details
    • Value Estimation by Request
      994 SF

      1001 Commercial St

      RETAIL STORES (PERSONAL SERVICES)
      1001 Commercial St, Springfield, MO 65803-3252
      View Details
    • Value Estimation by Request
      4,478 SF

      1611 Campbell Ave

      RETAIL STORES (PERSONAL SERVICES)
      1611 Campbell Ave, Springfield, MO 65803-2735
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Prime Corner Location For Sale

      9,880 sqft commercial property in high-traffic Springfield location.
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      Versatile Commercial Property on Kearney

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      Versatile Commercial Property on Kearney

      Two buildings, high visibility, ideal for office, retail, or warehouse.
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    • New
      $357,500
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      Retail Property on Kearney Street

      Turn-key biker wear business with prime commercial location.
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    Similar Nearby for Lease

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      High-Visibility Commercial Space Available

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      Retail/Office Space For Lease

      1,500 SF retail/office space available for lease.
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      1,200 SF

      Retail Space with Drive-Thru

      Retail space with drive-thru, convenient location, and immediate availability.
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      Retail Space with High Visibility

      Retail space with great visibility and easy access.
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      Retail Building on Broadway Avenue

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      Springfield Retail Pad Site Available

      Retail opportunity with high visibility and traffic counts in Springfield.
      1825 W Kearney St, Springfield, MO 65803
      View Details
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    Springfield, MO 65803-1646
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    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
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