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    Property profile & analytics

    2946 National Ave Springfield, MO 65804-3634

    • Drive through restaurants
    • 4,944 SF
    • 1.09 lot acres
    OFF-MARKET
    Value Estimations
    $415,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-0017717
    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

    • First Watch / Restaurant / Breakfast Restaurant

    Property Details for 2946 National Ave

    Year built
    1977
    Lot size
    1.09 lot acres
    Property size
    4,944 SF
    Zone code
    INC
    Property type
    Drive through restaurants
    APN
    88-19-06-209-069
    APU
    881906209069

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $410,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $500,000
      Market price range: $369k - $589k

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.2767
    Latitude
    37.1605
    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
    $21,266
    $152,740
    $180,860
    $333,600
    -
    $477,300
    $565,200
    $1,042,500

    Comparable in this City

    • Value Estimation
      $280,000
      2,740 SF

      2058 Glenstone Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,740 SF
      2058 Glenstone Ave, Springfield, MO 65804-2428
      View Details
    • Value Estimation
      $255,000
      1.24 Acres

      1400 Sunshine St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1.24 Acres
      1400 Sunshine St, Springfield, MO 65804-1212
      View Details
    • Value Estimation
      $385,000
      3,437 SF

      3020 Sunshine St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,437 SF
      3020 Sunshine St, Springfield, MO 65804-2053
      View Details
    • Value Estimation
      $325,000
      1,907 SF

      2933 National Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,907 SF
      2933 National Ave, Springfield, MO 65804-3633
      View Details
    • Value Estimation
      $390,000
      0.93 Acres

      1249 Kingsley St

      DRIVE-THRU RESTAURANT, FAST FOOD • 0.93 Acres
      1249 Kingsley St, Springfield, MO 65804-7211
      View Details
    • Value Estimation
      $345,000
      3,788 SF

      2119 Glenstone Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,788 SF
      2119 Glenstone Ave, Springfield, MO 65804-2429
      View Details

    Similar Nearby for Sale

    • $2,690,000
      6,470 SF

      3242 Stewart Ave

      Restaurants • 6,470 SF
      3242 Stewart Ave, Springfield, MO 65804
      View Details
    • $2,940,000
      6,470 SF

      Net Leased Restaurant Investment

      Net leased restaurant investment opportunity near Battlefield Mall.
      3242 S Stewart Ave, Springfield, MO 65804
      View Details
    • $650,000
      3,303 SF

      Springfield Retail Space for Sale/Lease

      Prime Springfield storefront, 3,303 sq ft
      1212 Glenstone Ave, Springfield, MO 65804
      View Details
    • $850,000
      1,800 SF

      Springfield Retail Investment Opportunity

      High-Yield TitleMax Storefront
      1164 Glenstone Ave, Springfield, MO 65804
      View Details
    • $850,000
      1,800 SF

      Glenstone Avenue Retail Investment Property

      Income-producing retail property with long-term tenant in Springfield, Missouri.
      1164 South Glenstone Ave, Springfield, MO 65804
      View Details
    • $590,000
      3,303 SF

      Retail Building with Warehouse

      3,303 SF retail space with warehouse for sale.
      1212 S Glenstone Ave, Springfield, MO 65804
      View Details

    Similar Nearby for Lease

    • $1,200,000
      2,740 SF

      Glenstone Retail/Restaurant Building Available

      2,740 SF retail or restaurant building with drive-through.
      2058 S Glenstone Ave, Springfield, MO 65804
      View Details
    • $25 SF/Yr
      156,306 SF

      Farmers Park Executive Suites

      Springfield, MO Office Space Available
      2144 Republic Rd, Springfield, MO 65804
      View Details
    • $550,000
      1,305 SF

      Freestanding Retail/Restaurant Building on Glenstone

      1,305 SF freestanding building for sale or lease.
      2040 S Glenstone Ave, Springfield, MO 65804
      View Details
    • $18 SF/Yr
      14,400 SF

      Battlefield Road Retail Spaces

      Springfield, MO Retail/Restaurant Opportunity
      3405 Battlefield Rd, Springfield, MO 65804
      View Details
    • $21 SF/Yr
      9,375 SF

      Sunshine Street Retail Space

      Prime Springfield Retail, ±1888 SF
      3233 E Sunshine St Springfield, MO 65804, Springfield, MO 65804
      View Details
    • $17 SF/Yr
      14,700 SF

      James River Towne Center Retail Space

      Springfield, MO Restaurant Space Available
      2043 Independence St, Springfield, MO 65804
      View Details
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    2946 National Ave
    Springfield, MO 65804-3634
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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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