Commercial Real Estate in Springfield, Missouri, offers a unique opportunity for investors to tap into the city's diverse economy and growing population of around 170,000. With a strong presence of healthcare, manufacturing, retail, education, and tourism industries, Commercial Real Estate in Springfield presents a stable investment option. These properties can represent a range of investments, from office buildings and retail spaces to restaurants and hotels, each offering a unique potential for returns. Springfield's amenities, infrastructure, location, education, and geography make it an attractive place to invest in Commercial Real Estate. For instance, the city is home to major hospitals, universities, and colleges, including Missouri State University and Drury University, which attract a large student population and create a demand for commercial spaces. The city's location at the intersection of Interstate 44 and U.S. Route 65 also makes it an ideal spot for businesses that rely on transportation and logistics. Additionally, Springfield's attractions, such as the Price Cutter Charity Championship and the Birthplace of Route 66 Festival, draw visitors from across the region, supporting the local economy and creating opportunities for commercial investments. Overall, Springfield is a great place for business and travel, with its rich history, cultural events, and outdoor activities.
With 117 Commercial Real Estate listings available in Springfield, investors have a wide range of options to choose from. The average price per square foot for Commercial Real Estate in Springfield is $152 USD, with an average size of 29,566 square feet. The largest property available is 132,000 square feet. In addition to Commercial Real Estate, Springfield also offers Industrial Properties, such as warehouses and manufacturing facilities, which are ideal for businesses that require large spaces for production and storage. Apartment Buildings are another option, providing a steady stream of income through rental properties. Office Properties, including Class A and Class B offices, are also available, catering to businesses of all sizes. Hotels, ranging from budget-friendly options to luxury resorts, round out the list of Commercial Real Estate options in Springfield. Overall, the city's diverse economy and growing population make it an attractive place to invest in Commercial Real Estate, with a range of options to suit different investment strategies and goals.
What financing options are available for purchasing commercial real estate?
When it comes to financing options for purchasing commercial real estate in Springfield, Missouri, there are several alternatives to consider, including:
- SBA 504 loans, which offer fixed-rate financing for up to 20 years, with a low down payment requirement;
- Conventional commercial mortgages, which provide flexible terms and competitive interest rates;
- Private money lending, which can offer faster approval and more lenient credit requirements, although often at a higher cost.
With 117 available listings of commercial real estate in Springfield, finding the right financing option is crucial to securing the property that meets your business needs. Additionally, understanding the local market, with an average price per square foot of $152 USD and average property size of 29,566 square feet, can help you make an informed decision.
How do cap rates factor into commercial real estate purchases?
When considering commercial real estate purchases in Springfield, Missouri, investors must carefully evaluate the cap rate, or capitalization rate, to ensure a profitable investment. With an average cap rate of 7.2%, it's essential to understand how this metric affects the property's value and potential returns, as outlined in our article on what is a cap rate.
In Springfield, where there are currently 117 available listings of commercial real estate, a thorough analysis of the cap rate is crucial in determining the property's income-generating potential. By understanding the cap rate, investors can make informed decisions about their commercial real estate purchases and optimize their investment strategies.
What is considered a commercial property?
In Springfield, Missouri, a commercial property is typically defined as a building or land used for business or commercial purposes, such as office spaces, retail stores, restaurants, warehouses, and industrial facilities. These properties can range in size from 29,566 square feet to 132,000 square feet, with an average price per square foot of $152 USD and an average cap rate of 7.2%, offering a diverse range of investment opportunities among the 117 available listings.
