1515 Division StSpringfield, MO 65802

Property Details for 1515 Division St

Year built

1997

Lot size

2.64 AC

Property size (Sq ft)

71,599 SF

Zone code

INC

Property type

Warehouses

APN

88-13-11-326-003

APU

881311326003

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $16,059,674

  Hospitality

  $14,710,575

  Educational

  $12,239,026

  Medical

  $12,659,945

  Retail

  $19,038,486

Location Insight

City

Springfield

County

Greene

State

Missouri

Latitude

37.2269

Longitude

-93.3109

CBSA code

44180

CBSA name

SPRINGFIELD, MO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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