Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2503 N Neergard Ave Springfield, MO 65803

    Property Lookup

    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2503 N Neergard Ave Springfield, MO 65803

    View on Map
    • Manufacturing properties
    • 6.01 lot acres
    For Sale
    $4,975,000
    View Listing →
    Industrial Warehouse with Excess Land For Sale
    $4,975,000
    75,755 SF

    Industrial Warehouse with Excess Land

    Spacious warehouse with office space and fenced outdoor storage.

    2503 N Neergard Ave, Springfield, MO
    View Listing
    Property ID
    US48-1450724
    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

    • Marketing.com / (Bike/Boat/Book/etc) Store / Printing Service

    Property Details for 2503 N Neergard Ave

    Year built
    1983
    Lot size
    6.01 lot acres
    Zone code
    INC
    Property type
    Manufacturing properties
    APN
    88-12-05-401-194
    APU
    881205401194

    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
    -93.244
    Latitude
    37.242
    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
    $41,829
    $122,850
    $533,340
    $656,190
    -
    $383,900
    $1,666,700
    $2,050,600

    Comparable in this City

    • Value Estimation
      $8,290,000
      340,000 SF

      2707 Barnes Ave

      MANUFACTURING (LIGHT) • 340,000 SF
      2707 Barnes Ave, Springfield, MO 65803
      View Details
    • Value Estimation by Request
      2.54 Acres

      3911 Farm Rd 143

      FACTORY (MANUFACTURING) • 2.54 Acres
      3911 Farm Rd 143, Springfield, MO 65803-8482
      View Details
    • Value Estimation by Request
      15,200 SF

      4665 Pfiffer Ct

      MANUFACTURING (LIGHT) • 15,200 SF
      4665 Pfiffer Ct, Springfield, MO 65803-7672
      View Details
    • Value Estimation by Request
      17,400 SF

      2221 Belcrest Ave

      MANUFACTURING (LIGHT) • 17,400 SF
      2221 Belcrest Ave, Springfield, MO 65803-5056
      View Details
    • Value Estimation
      $2,875,000
      328,252 SF

      2727 Partnership Blvd

      FACTORY (MANUFACTURING) • 328,252 SF
      2727 Partnership Blvd, Springfield, MO 65803-8208
      View Details
    • Value Estimation
      $860,000
      55,253 SF

      2500 Airport Commerce Ave

      MANUFACTURING (LIGHT) • 55,253 SF
      2500 Airport Commerce Ave, Springfield, MO 65803-9565
      View Details

    Similar Nearby for Sale

    • $9,375,000
      27,050 SF

      Springfield Industrial Investment Opportunity

      Turnkey, fully leased industrial property in Springfield, Missouri.
      2835 N Oak Grove Ave, Springfield, MO 65803
      View Details
    • $165,000

      Shop Building with Roll-Up Doors

      Shop building featuring three roll-up doors in Springfield, Missouri.
      1370 E Thoman St, Springfield, MO 65803
      View Details
    • $265,000
      2,584 SF

      Free Standing Building on Kearney

      2,584 SF building on W Kearney in Springfield, Missouri.
      521 W Kearney St, Springfield, MO 65803
      View Details
    • $1,200,000
      4,512 SF

      Office/Warehouse Building Near I-44

      4,512 SF office/warehouse building for sale near Kearney & I-44.
      2807 W Kearney St, Springfield, MO 65803
      View Details
    • $799,000
      Pending

      Springfield Warehouse Space For Sale

      Two warehouses totaling over 26,000 sqft near downtown Springfield.
      625 E Tampa St, Springfield, MO 65803
      View Details
    • Contact for pricing

      Remodeled Building with Ample Parking

      Remodeled building with parking, storage, and acreage near Springfield.
      2049 N Eldon Ave, Springfield, MO 65803
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      103,000 SF

      103,000 SF Manufacturing/Warehouse Space

      103,000 SF manufacturing/warehouse space available for lease.
      3610 Le Compte Rd, Springfield, MO 65803
      View Details
    • $16,000 /Mo
      56,192 SF

      Warehouse Space in Springfield, MO

      2,000 sq ft warehouse with overhead door for rent.
      1867 E Florida St, Springfield, MO 65803
      View Details
    • Contact for pricing

      Springfield Underground Warehouse Space Available

      103,000 SF warehouse space for lease in Springfield, Missouri.
      3610 E Kearney St, Springfield, MO 65803
      View Details
    • $9,000 /Mo
      44,431 SF

      Springfield Warehouse with Drive-Through Access

      2,100 SF warehouse space with drive-through capability for lease.
      1745 E Atlantic St, Springfield, MO 65803
      View Details
    • $8 SF/Yr

      Springfield Pad Site For Lease

      Pad site with high visibility and easy highway access.
      2738 E Kearney St, Springfield, MO 65803
      View Details
    • $8 SF/Yr
      20,000 SF

      Springfield Industrial Space Available

      20,000 SF industrial space for rent in Springfield.
      2915 Le Compte Rd, Springfield, MO 65803
      View Details
    View Listing
    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.
    2503 N Neergard Ave
    Springfield, MO 65803
    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!