3535 Lone Pine AveSpringfield, MO 65804

Property Details for 3535 Lone Pine Ave

Year built

1937

Lot size

1.08 AC

Property size (Sq ft)

574 SF

Zone code

INC

Property type

Retail space

APN

88-19-09-203-062

APU

881909203062

Description

This exceptional redevelopment opportunity presents a unique chance to acquire a 1.07-acre property in Springfield, Missouri's thriving Galloway neighborhood. The site features two buildings totaling 5,714 square feet of net rentable space, including a 5,714 square foot commercial building and an additional smaller structure. Currently vacant, this mixed-use property is zoned for General Retail, offering immense flexibility for a variety of uses. The property benefits from a Chapter 99 Tax Abatement, making it an attractive investment for owner-users. Located on South Lone Pine Avenue, across from Sequiota Park, the property enjoys high visibility and proximity to numerous established businesses, including 4x4 Brewing Company, Black Lab Coffee, and several restaurants and retail establishments. The planned widening of Galloway Street, commencing Summer 2024, is projected to significantly increase traffic flow, further enhancing the property's value and appeal. This is an ideal opportunity for an ambitious entrepreneur or developer seeking a prime location with strong growth potential in a vibrant and expanding area. The property's two-story design and ample square footage provide significant potential for creative redevelopment and adaptation to a wide range of commercial ventures. The existing structures offer a solid foundation for a renovation project, while the generous lot size allows for expansion or additional development. The property's address is 3535 S Lone Pine Ave, Springfield, MO 65804. The APN is 1909203062. The asking price is $1,100,000, translating to $192.51 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $165,348

  6.5%

  $152,629

  7%

  $141,727

• Comparable approach

  Method

  Valuation

  Relative Method

  $103,467

  Geo Method

  $103,467

• Alternative Use

  Use

  Valuation

  Residential

  $128,748

  Hospitality

  $117,933

  Educational

  $98,119

  Medical

  $101,493

  Retail

  $152,629

Location Insight

City

Springfield

County

Greene

State

Missouri

Latitude

37.1482

Longitude

-93.2396

CBSA code

44180

CBSA name

SPRINGFIELD, MO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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