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    Property profile & analytics

    943 N Boonville Ave Springfield, MO 65802

    • Office buildings
    • 2,880 SF
    • 0.18 lot acres
    For Sale
    View listing
    $499,000
    Value Estimations
    Cap Rate Potential
    8.9%
    Office buildings
    Location Intelligence
    Property ID
    US48-0666937
    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

    • Greene County Bail Bonds / Service Establishment / Bail Bonds Service
    • Amanda Scott Bail Bonds / Bail Bonds Service
    • Hilton Bail Bonding / Bail Bonds Service
    • Overwatch Investigative Services LLC / Private Investigator
    • Court Probationary Services / Association Or Organization

    Property Details for 943 N Boonville Ave

    Year built
    1950
    Lot size
    0.18 lot acres
    Property size
    2,880 SF
    Zone code
    INC
    Property type
    Office buildings
    APN
    88-13-13-304-001
    APU
    881313304001

    Description

    This exceptional 2,880 square foot office building enjoys a highly desirable location in Springfield, Missouri. Situated directly across from the Greene County Courthouse and adjacent to the Greene County Emergency Services Department, this property presents a unique opportunity for businesses seeking high visibility and convenient access to government services. The building features a welcoming reception area, numerous individual offices ideal for a variety of professional uses, and two bathrooms for staff and client convenience. A spacious breakroom provides a comfortable area for employees. Ample parking is available in the attached lot, which includes two convenient curb cuts for easy ingress and egress. Additional features include an attached garage area, valuable storage space, and a prominent roof signage opportunity for enhanced brand visibility. The building's large front windows offer excellent natural light and a commanding view of Boonville Avenue. This property is particularly well-suited for legal practices or other businesses that frequently interact with county government. The combination of location, size, and features makes this an outstanding investment opportunity. The 0.18-acre lot provides ample space for parking and potential future expansion.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $405,000
      6.5%
      $375,000
      7%
      $350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $314,000
      Market price range: $96.5k - $390k

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.2928
    Latitude
    37.2187
    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
    $6,140
    $21,760
    $74,560
    $96,320
    -
    $68,000
    $233,000
    $301,000

    Comparable in this City

    • Value Estimation
      $250,000
      885 SF

      945 Campbell Ave

      OFFICE BUILDING • 885 SF
      945 Campbell Ave, Springfield, MO 65802-3822
      View Details
    • Value Estimation
      $290,000
      3,750 SF

      430 Glenstone Ave

      OFFICE BUILDING • 3,750 SF
      430 Glenstone Ave, Springfield, MO 65802-3202
      View Details
    • Value Estimation
      $300,000
      6.44 Acres

      2860 Catalpa St

      OFFICE BUILDING • 6.44 Acres
      2860 Catalpa St, Springfield, MO 65802-5145
      View Details
    • Value Estimation
      $635,000
      27,891 SF

      3003 Chestnut Expy

      OFFICE BUILDING • 27,891 SF
      3003 Chestnut Expy, Springfield, MO 65802-2580
      View Details
    • Value Estimation
      $405,000
      0.84 Acres

      730 Glenstone Ave

      OFFICE BUILDING • 0.84 Acres
      730 Glenstone Ave, Springfield, MO 65802-2118
      View Details
    • Value Estimation
      $285,000
      2,800 SF

      6775 Independence Dr

      OFFICE BUILDING • 2,800 SF
      6775 Independence Dr, Springfield, MO 65802-5935
      View Details

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    Similar Nearby for Lease

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      Office/Warehouse Space Near I-44

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      View Details
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    Springfield, MO 65802
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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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