1515 Division St Springfield, MO 65802

This exceptional 71,599-square-foot industrial property in Springfield, Missouri, presents a compelling investment or owner-user opportunity. Located at 1515 W Division St, in Greene County, this property boasts a prime location at the northeast corner of Division Street and N Kansas Expressway, benefiting from over 39,000 vehicles per day in combined traffic. The building, constructed in 1997 and zoned for Heavy Manufacturing, comprises two units totaling 71,599 square feet, situated on a 2.6-acre lot. Approximately 35,500 square feet are currently leased to a credit-rated tenant under a new 10-year NNN lease commencing November 10, 2023, resulting in a 50% occupancy rate. The remaining 35,500 square feet offers significant value-add potential for an owner-occupier or investor. The asking price is $2,775,000, translating to $38.76 per square foot and a $1,387,500 price per unit. The property's strong tenant base and strategic location contribute to a Net Operating Income (NOI) of $152,278 and a 5.49% cap rate. Nearby businesses include O'Reilly Auto Parts, City Utilities, Paul Mueller Company, and more. This property is ideal for businesses seeking expansion or investors targeting a strong return on investment in a thriving market. The property is shown by appointment only.