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    600 W College St Springfield, MO 65806
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    Property profile & analytics

    600 W College St, Springfield, MO 65806

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    • Retail space
    • 14,621 SF
    • 0.37 lot acres
    For Lease
    $15 SF/Yr
    View Listing →
    Creative Space in Historic Building For Lease
    $15 SF/Yr
    3,000 SF

    Creative Space in Historic Building

    3,000 SF creative space for lease in downtown Springfield.

    600 W College St, Springfield, MO
    View Listing
    Property ID
    US48-3359634
    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

    • White River Engineering, Inc. | ALLGEIER, MARTIN and ASSOCIATES / Engineer / Engineering Consultant
    • Conway Duncan, Inc. / Engineering Consultant
    • Blu Skies / Hair Salon
    • Graham William S MD / Medical Examiner
    • Bethesda Medical Care / Medical Clinic

    Property Details for 600 W College St

    Year built
    1929
    Lot size
    0.37 lot acres
    Zone code
    INC
    Property type
    Retail space
    APN
    88-13-23-119-001
    APU
    881323119001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 23, 2025 — 600 W College St LLC — Deed · related $1.2M · Legacy Bank & Trust Co
    Apr 14, 2021 — 600 W College Street LLC — Deed · related $1.2M · Legacy Bank & Trust
    Jan 7, 2019 — 600 W College Street LLC West Valley Development LLC Warranty Deed $972k · Legacy Bank & Trust
    Mar 6, 2006 — West Valley Dev LLC Oneill,david & Patricia A Warranty Deed $800k · Empire Bank
    — — West Valley Dev LLC — Deed Of Trust · related $1M · Arvest Bank
    — — West Valley Dev LLC — Deed Of Trust · related $1.1M · Empire Bank

    Description

    This exceptional 1,000-square-foot creative office space is available for lease in the historic Monarch Art Factory building at 600 W College St, Springfield, MO 65806. Located in the desirable Downtown Springfield submarket, this property offers a unique blend of character and modern convenience. The space boasts an open floor plan, showcasing exposed brick and high ceilings with exposed ductwork, creating a vibrant and inspiring atmosphere. Abundant natural light streams in through skylights, enhancing the workspace. The building, a Class B property constructed in 1929 and renovated in 2009, sits on a 0.37-acre lot and is zoned Center City. The entire building comprises 14,621 square feet, with a minimum divisible space of 1,000 square feet and a maximum contiguous space of 1,000 square feet currently available. This single-story building offers a prime location near established businesses such as Conway Duncan Engineering and Bethesda Medical Care. The property's APN is 1323119001. This is an excellent opportunity for a business seeking a unique and stylish downtown Springfield location. The property is categorized as Office/Retail, with a Creative Office subtype, and is suitable for multiple tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,815,000
      6.5%
      $1,675,000
      7%
      $1,555,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,768,000
      Market price range: $758k - $3.46M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,965,000
      Current use
      RESTAURANT
      $1,630,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.2972
    Latitude
    37.2083
    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
    $19,578
    $27,040
    $261,860
    $288,900
    -
    $84,500
    $818,300
    $902,800

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      452 Grant Ave

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $1,125,000
      30,448 SF

      1500 College St

      RETAIL STORES (PERSONAL SERVICES)
      1500 College St, Springfield, MO 65806-1612
      View Details

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    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.

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