Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    517 E Elm St Springfield, MO 65806
    Back to Search
    Property profile & analytics

    517 E Elm St, Springfield, MO 65806

    View on Map
    • Commercial land
    • 2.21 lot acres
    For Lease
    View Listing →
    Downtown Springfield Land Opportunity For Lease
    Contact for pricing

    Downtown Springfield Land Opportunity

    Ground lease or build-to-suit opportunity in Springfield's downtown.

    517 E Elm St, Springfield, MO 65806
    View Listing
    Property ID
    US48-2833424
    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

    • Tru by Hilton Springfield Downtown / Hotel & Motel

    Property Details for 517 E Elm St

    Lot size
    2.21 lot acres
    Zone code
    INC
    Property type
    Commercial land
    APN
    88-13-24-242-059
    APU
    881324242059

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 24, 2018 — Bryan 517 LLC — Grant Deed · related $7.9M · Central Bk/the Ozarks

    Description

    This exceptional 0.48-acre commercial land parcel presents a unique redevelopment opportunity in the vibrant Downtown Springfield submarket of Greene County, Missouri. Situated at 517 E Elm St, this single-tenant property boasts excellent frontage on East Elm Street, offering high visibility and accessibility. The property's APN is 13-24-242-059 and is conveniently located adjacent to Missouri State University's campus, ensuring a consistent flow of potential customers and a strong surrounding community. Furthermore, its proximity to the newly constructed Tru Hotel adds to its desirability and potential for increased foot traffic. The site is currently available as a ground lease or build-to-suit option, offering flexibility for prospective developers. The asking rate is $1.75 per square foot per year, on a net-net-net (NNN) basis. This prime location in the heart of Springfield's downtown area makes it an attractive investment for those seeking high-impact commercial development. The property's size and location make it suitable for a variety of commercial uses, capitalizing on the area's growth and proximity to both the university and the thriving downtown core. This is a rare opportunity to acquire a strategically positioned land parcel with significant redevelopment potential in a highly sought-after location. The zip code is 65806.

    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
    -93.2881
    Latitude
    37.2057
    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
    $6,783
    $100,100
    $0.00
    $100,100
    -
    $312,800
    $0.00
    $312,800

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      College St

      VACANT COMMERCIAL LAND
      College St, Springfield, MO 65806
      View Details
    • Value Estimation by Request
      2.05 Acres

      404 Washington Ave

      VACANT COMMERCIAL LAND
      404 Washington Ave, Springfield, MO 65806
      View Details
    • Value Estimation by Request
      0.10 Acres

      624 Chestnut St

      VACANT COMMERCIAL LAND
      624 Chestnut St, Springfield, MO 65806-1016
      View Details
    • Value Estimation by Request
      0.16 Acres

      536 Tampa St

      VACANT COMMERCIAL LAND
      536 Tampa St, Springfield, MO 65806-1168
      View Details
    • Value Estimation by Request
      0.14 Acres

      Jefferson Ave

      VACANT COMMERCIAL LAND
      Jefferson Ave, Springfield, MO 65806
      View Details
    • Value Estimation by Request
      0.37 Acres

      Tampa St

      VACANT COMMERCIAL LAND
      Tampa St, Springfield, MO 65806
      View Details

    Similar Nearby for Sale

    • $40,000
      0.33 Acres

      Commercial Lots in Prime Location

      Two adjoining commercial lots zoned for heavy manufacturing.
      222 N 8Th Ave, Springfield, MO 65806
      View Details
    • $465,000
      2,939 SF

      Downtown Springfield Retail Gem

      Updated Brick Warehouse, Prime Location
      444 Mcdaniel St, Springfield, MO 65806
      View Details
    • New
      $899,000
      0.55 Acres

      Iconic Office Building in Springfield

      Prime downtown location, architectural significance, ideal for professional services.
      605 N Boonville Ave, Springfield, MO 65806
      View Details
    • Contact for pricing
      1,055 SF

      Downtown Springfield Class A Office

      Class A office space in downtown Springfield for sale.
      214 W Phelps St, Springfield, MO 65806
      View Details
    • Contact for pricing
      3,848 SF

      Iconic Springfield Bank Building

      Historic bank building with mid-century modern architecture and commercial potential.
      532 E Walnut St, Springfield, MO 65806
      View Details
    • Contact for pricing
      4,100 SF

      Downtown Springfield Mixed-Use Property

      Fully leased mixed-use property in Downtown Springfield with historic character.
      412 South Ave, Springfield, MO 65806
      View Details

    Similar Nearby for Lease

    • $1.75 SF/Yr

      Downtown Springfield Ground Lease Opportunity

      Prime 0.48 AC ground lease in downtown Springfield.
      517 E Elm St, Springfield, MO 65806
      View Details
    • Contact for pricing

      Downtown Springfield Land Opportunity

      Ground lease or build-to-suit opportunity in Springfield's downtown.
      517 E Elm St, Springfield, MO 65806
      View Details
    • Contact for pricing
      4,000 SF

      Downtown Springfield Office/Retail Space

      Two-story office/retail space in historic downtown Springfield.
      313 Park Central W, Springfield, MO 65806
      View Details
    • $13 SF/Yr

      Downtown Springfield First Floor Office

      First floor office space in Springfield CBD for sublease.
      333 S Jefferson Ave, Springfield, MO 65806
      View Details
    • $1,500 /Mo

      Retail Spaces Near University Campus

      Two retail spaces available near Missouri State University campus.
      607 E, Springfield, MO 65806
      View Details
    • Contact for pricing
      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
    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.
    517 E Elm St
    Springfield, MO 65806
    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

    Thank You for Inquiry
    517 E Elm St, Springfield, MO, 65806
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!