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Property profile & analytics
OFF-MARKET Estimated value $720,000
Office buildings

429 Boonville Ave Springfield, MO 65806-1001

8,916 SF 0.11 ac lot Built 1900
Entity Owned 6-yr Hold ~ Est. High Equity
Property ID
US48-3155931
Property summary
AI-generated overview

This meticulously remodeled 4,200 square foot office/retail space at 429 N Boonville Avenue in Springfield, Missouri presents a unique investment opportunity. Originally the "Model Market," Springfield's first downtown grocery store, this property boasts a rich history and modern amenities. The main floor offers 13 enclosed offices, three restrooms, a break room/kitchen, a breakfast nook, and a dedicated conference room. Five additional open-air office spaces provide flexible workspace options. High ceilings and transom windows throughout the building create a bright and airy atmosphere. A significant advantage is the inclusion of a separate 10-space parking lot located at 215 Phelps Street, directly across the street. The basement offers an additional 4,200 square feet of space, as per assessor records, though this is not included in the listed square footage. The property sits on a 0.18-acre lot in the desirable Jordan Valley Park area. The asking price is $12 million. Negotiations are possible regarding the inclusion of existing furnishings with an acceptable offer. This is a rare chance to acquire a beautifully renovated historic building with excellent parking in a prime Springfield location.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1900
Total area 8,916 SF
Lot 0.11 ac (5,009 SF)
Zoning code INC
APN 88-13-13-310-010
UPID US48-3155931
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$722k
Blend (final) Blend
$720k
Owner & transaction history
Chi Alpha Network INC · 6 yrs held
Chi Alpha Network INC
since 2019
7 recorded transactions
2019
Price N/A
2017
Price N/A
2009
Price N/A
2008
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
INC · Springfield, MO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores $1.2M +66.0%
Restaurant $995,000 +37.7%
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