429 Boonville AveSpringfield, MO 65806

Property Details for 429 Boonville Ave

Year built

1900

Lot size

0.11 AC

Property size (Sq ft)

8,916 SF

Zone code

INC

Property type

Office buildings

APN

88-13-13-310-010

APU

881313310010

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,747,190

  6.5%

  $1,612,791

  7%

  $1,497,592

• Comparable approach

  Method

  Valuation

  Relative Method

  $637,762

  Geo Method

  $637,762

• Alternative Use

  Use

  Valuation

  Residential

  $1,999,861

  Hospitality

  $1,831,862

  Educational

  $1,524,088

  Medical

  $1,576,503

  Retail

  $2,370,803

Location Insight

City

Springfield

County

Greene

State

Missouri

Latitude

37.2123

Longitude

-93.2926

CBSA code

44180

CBSA name

SPRINGFIELD, MO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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