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    Property profile & analytics

    222 Park Central N Springfield, MO 65806

    • Commercial real estate
    • 4,878 SF
    • 0.03 lot acres
    For Sale
    View listing
    $699,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-0864855
    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.

    Current Use by Public Records

    • The Riksha / Chinese Restaurant
    • Park Central Lofts / Apartment Rental Agency

    Property Details for 222 Park Central N

    Year built
    1884
    Lot size
    0.03 lot acres
    Property size
    4,878 SF
    Property type
    Commercial real estate
    APN
    1324224004

    Description

    This exceptional mixed-use property, located at 222 Park Central N in Springfield, Missouri, presents a compelling investment opportunity. The 4,878 square foot building, constructed in 1884 and renovated in 2009, boasts a prime location on the historic Park Central Square. Currently operating at 100% occupancy, the property features a long-standing (30+ years) restaurant tenant on the ground floor and two income-producing loft apartments on the upper floors. The restaurant occupies the entire ground floor. The two lofts offer desirable living spaces

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.292263745137
    Latitude
    37.209764107127

    Comparable in this City

    • $1,000,000
      11,474 SF

      Downtown Springfield Gem

      Historic building, prime location, high potential
      220 Campbell Ave, Springfield, MO 65806
      View Details
    • $950,000
      11,792 SF

      321 South Ave

      Restaurants • 11,792 SF
      321 South Ave, Springfield, MO 65806
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    • $1,500,000
      13,625 SF

      Downtown Springfield Bar & Retail Investment

      Prime Springfield location, two-building complex, high potential.
      311 Patton Ave, Springfield, MO 65806
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    • Contact for pricing
      14,966 SF

      Downtown Springfield Retail Space Available

      Wide open retail spaces near Missouri State University.
      631 S Kimbrough Ave, Springfield, MO 65806
      View Details
    • $699,500
      0.03 Acres

      Park Central Square Income Property

      Mixed-use property with long-term tenant and loft apartments.
      222 Park Central N, Springfield, MO 65806
      View Details
    • $875,000
      11,792 SF

      Downtown Springfield Night Club & Bar

      Four-story night club and bar in downtown Springfield for sale.
      321 South Ave, Springfield, MO 65806
      View Details

    Similar Nearby for Sale

    • $1,000,000
      11,474 SF

      Downtown Springfield Gem

      Historic building, prime location, high potential
      220 Campbell Ave, Springfield, MO 65806
      View Details
    • Contact for pricing
      14,966 SF

      Downtown Springfield Retail Space Available

      Wide open retail spaces near Missouri State University.
      631 S Kimbrough Ave, Springfield, MO 65806
      View Details
    • $950,000
      11,792 SF

      321 South Ave

      Restaurants • 11,792 SF
      321 South Ave, Springfield, MO 65806
      View Details
    • $1,500,000
      13,625 SF

      Downtown Springfield Bar & Retail Investment

      Prime Springfield location, two-building complex, high potential.
      311 Patton Ave, Springfield, MO 65806
      View Details
    • $699,500
      0.03 Acres

      Park Central Square Income Property

      Mixed-use property with long-term tenant and loft apartments.
      222 Park Central N, Springfield, MO 65806
      View Details
    • $875,000
      11,792 SF

      Downtown Springfield Night Club & Bar

      Four-story night club and bar in downtown Springfield for sale.
      321 South Ave, Springfield, MO 65806
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      7,500 SF

      Springfield Retail Center Investment

      Prime Springfield retail spaces available.
      616 Madison St, Springfield, MO 65806
      View Details
    • $3,608 /Mo
      Pending

      Downtown Springfield Retail with Kitchen

      Retail space with kitchen in downtown Springfield, Missouri.
      220 S Campbell Ave, Springfield, MO 65806
      View Details
    • $12 SF/Yr
      3,050 SF

      Downtown Springfield Retail/Restaurant Space

      3,050 SF retail/restaurant space with full kitchen and bar.
      420 W College St, Springfield, MO 65806
      View Details
    • $8 SF/Yr
      15,000 SF

      Downtown Springfield Restaurant/Event Space

      Spacious restaurant/event center in downtown Springfield with multiple floors.
      314 S Patton Ave, Springfield, MO 65806
      View Details
    • $14 SF/Yr
      3,195 SF

      Retail Space Near Universities

      Retail space near Missouri State University, OTC, and Drury.
      631-637 S Kimbrough Ave, Springfield, MO 65806
      View Details
    • $16 SF/Yr
      6,050 SF

      Downtown Springfield Retail Space Available

      1,520 SF retail space for lease in Downtown Springfield.
      108 Park Central St East, Springfield, MO 65806
      View Details
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    222 Park Central N
    Springfield, MO 65806
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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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