2058 Glenstone AveSpringfield, MO 65807

Property Details for 2058 Glenstone Ave

Year built

1963

Lot size

0.61 AC

Property size (Sq ft)

2,740 SF

Zone code

INC

Property type

Drive through restaurants

APN

88-12-32-206-031

APU

881232206031

Description

This exceptional 2,740-square-foot restaurant building, located at 2058 S. Glenstone Ave in Springfield, Missouri, is available for sale at $1,200,000. Currently 100% occupied, this single-tenant property boasts a prime location in a high-traffic area of Southeast Springfield, near the intersection of Glenstone and Sunshine Streets. The building features an open dining and bar area, a drive-through window, a fully equipped kitchen with two walk-in coolers and a freezer, and two restrooms. Additional features include a large 489-square-foot storage area. The 0.61-acre lot provides ample space, and the property includes 37 parking spaces. The property is zoned for General Retail and benefits from high visibility and accessibility, with nearby businesses including Plaza Towers, Jim's Steakhouse, Early Bird Breakfast Pub, Mercy Hospital, Hy-Vee, Brown Derby Wine Center, and Red Lobster. Annual property taxes are $7,348.01. Traffic counts at the nearby intersections of Sunshine & Glenstone and Seminole & Glenstone are 68,930 and 37,115 vehicles per day, respectively. This is a rare opportunity to acquire a successful, established restaurant in a vibrant and growing community. The lease type is NNN.

• CAP approach

  CAP return

  Valuation

  6%

  $789,293

  6.5%

  $728,578

  7%

  $676,537

• Comparable approach

  Method

  Valuation

  Relative Method

  $493,900

  Geo Method

  $493,900

• Alternative Use

  Use

  Valuation

  Residential

  $614,583

  Hospitality

  $562,954

  Educational

  $468,372

  Medical

  $484,480

  Retail

  $728,578

Location Insight

City

Springfield

County

Greene

State

Missouri

Latitude

37.1761

Longitude

-93.262

CBSA code

44180

CBSA name

SPRINGFIELD, MO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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