3.32 acre highway commercial retail STAR land LISTING in Springfield, MO, with Julie Broadbent, CCIM, Cincinnati, Ohio. Ideal for hotel/motel or bank. Zoned highway commercial (H-C). Inside loop with 332 est. frontage on Chestnut Expwy. Detention in on & off-site. NOW $499,000 ($2.78 SF). Julie is owner & broker of record. CBC Southwest is managing the listing via STAR MAKER strategic agreement. 25% 2nd DOQ, etc. with $670 monthly payment. 6% BBC.
This is an excellent hotel/motel or bank location. Key findings from analysis using CCIM, CBC & our proprietary tools:
(1) High projected demographic & economic growth in 5-minute drive
(2) High employment, retail & housing demand via EDC Industrial Center & Airport
(3) Top 3 unmet local retail demand opportunities avg $6.4M+ annual potential revenues, top 5 avg $4.9M+ & top 10 avg $2.8M+ in 5-min. drive
(4) Top opportunities in 5-min. dr...
(4) Top opportunities in 5-min. drive: auto dealer, food & beverages, clothing & accessories, health & personal care, & furniture & home furnishings
Key CCIM reports available on Lands of America, LoopNet, CBC and other listing websites supporting PDF attachments. 2,138 CCIM reports available on request.
Chestnut Park is available three ways:
(5) Chestnut Park North. 4001 Chestnut Expressway.3.28 acres (142,876 estimated SF). Zoned medium density up to 29 units per acre (R-MD). Just off W Chestnut Expy. 224 est. frontage on Walnut Street. Detention in on-site and off-site. Reduced to $299,000 ($2.09 SF) with $402 monthly owner 2nd payment.
(6) Chestnut Park South. 4003 Chestnut Expressway. Ideal location for a hotel or motel. 3.32 acres (144,619 estimated SF). Zoned highway commercial (H-C). 332 estimated frontage on W Chestnut Expy. NOW $499,000 ($3.45 SF) with $670 monthly owner 2nd payment.
(7) Chestnut Park. 4005 Chestnut Expressway, Chestnut Park East & West combined. 6.6 acres (287,496 estimated SF). 332 estimated frontage on W Chestnut Expy. Detention in on-site and off-site. NOW $798,000 ($2.78 SF) with $1,071 monthly owner 2nd payment.
Significant potential government incentives depending on project. Potential subordinated loan of 25% of sale price at 5% int., 30-year amort. & 5-yr balloon. PLUS 6% buyer broker commission.
OWNER IS A REAL ESTATE AGENT
The owner is a licensed Missouri Broker and CCIM. She is the broker of record for this listing.
HIGHLIGHTS
(8) 3.32 ac, zoned highway commercial (H-C) ideal hotel/motel or bank location, detention in on & off-site, all utilities in
(9) Potential owner subordinated loan of 25% of sale price at $670 monthly and 6% buyer broker commission
(10) Assistance from local Economic Development to evaluate eligibility for government loan and incentive programs
(11) Only 2.8 mi. to the Partnership Industrial Center West (PICW), 2.9 mi. to Springfield-Branson National Airport and 3 mi. to downtown
(12) Top 3 unmet local retail demand opportunities avg $6.4M+ annual potential revenues, top 5 avg $4.9M+ & top 10 avg $2.8M+ in 5-min. drive
(13) In 5-min. drive, compared to Benchmarks*, has highest projected annual % growth in: population, households, families, $100K+ & $250K household incomes
*Benchmarks: Census Tract; 1, 3 and 5-mile radiuses; 5, 10 and 15-minute drive-times; Zip Code; Springfield; Greene County; Springfield CBSA and DMA; Missouri; and the US.
KEY LINKS
(14) Property website:
(15) Word Press flyer:
(16) Coldwell Banker Commercial Worldwide listing:
(17) LoopNet listing:
(18) Lands of Missouri listing with full narrative except links:
(19) CBC Southwest Chestnut Center graphics pack:
(20) CBC Southwest Chestnut Center demographics pack:
(21) CBC Southwest Springfield area pictures pack:
(22) CBC Southwest retail gap dollar pack:
(23) CBC Southwest retail gap detailed table:
(24) CCIM hotel-motel pack:
(25) CCIM office-industrial pack:
(26) CCIM retail locator report:
(27) CCIM retail pack:
(28) CCIM site report:
If any link does not directly connect, just copy and paste the link into your web browser. Feel free to call or email us for technical assistance.
OFFERING
CBC Southwest offering:
The offering is available on request in 88 languages and dialects. We will make every effort to accommodate other languages based on availability of translation resources.
POSSIBLE 25% SUBORDINATED OWNER SECOND LOAN
Depending on transaction terms, your qualifications and other factors, based on a sale price $299,000, the owner may provide a $124,750 owner subordinated 2nd loan. $670 est. monthly P&I payment based on 5% interest and 30-year amortization. $114,557 est. balloon payment in 5-years. Calculations from Bank Rate.
6% BUYER BROKER COMMISSION
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A buyer broker does NOT have to accompany their buyer to any showings.
CONTACT INFORMATION
Call 1.979.421.9996 to set up an appointment, request additional information or answer any questions.
PROPERTY
(29) Size: 3.32 acres (144,619 est. SF)
(30) Estimated frontage: 332 on Chestnut Expwy.
(31) Zoning: Highway Commercial (H-C):
(32) Detention: In on-site and off-site
(33) Utilities: All City utilities in place
(34) In City limits? Yes
(35) School district: Willard R-II Independent School District
(36) Legal: Part of:
(a) 881317314043: JUNCTION CITY AMD W 80 FT LOT 61 & BEG 80 FT E SW COR LOT 61 N 630 FT E 69 FT S 630 FT W TO BEG (EX HWY)
(b) 881317314047: JUNCTION CITY LOT 60
LOCATION
(37) Directly on Chestnut Expressway (I44 Business) inside the loop on the preferred north side of Chestnut
(38) Easy I44 access. 1.4 mi. to I44 and Chestnut Expressway, 2.7 mi. to I44 and US 160 N, 4.9 mi. to I44 and James River Freeway, 9.8 mi. to I44 and US 65 N
(39) Springfield key rankings from Springfield Chamber of Commerce:
(a) A Safe Community designated by the World Health Organization Collaborating Centre on Safe Community Promotion
(b) Top 12 Metros for Recruitment & Attraction (Expansion Management)
(c) Top 20 Mid-Sized City for Entrepreneurs (Inc. Magazine)
(d) Top Place for Business & Careers (Forbes Magazine)
(e) Top 40 Best Quality of Life (bizjournals)
(f) Top 50 Best Performing City (Milken Institute)
(g) 100 Best Community for Young People (Americas Promise)
(h) 5-Star Quality of Life (Expansion Management Magazine)
(i) Top 50 Adventure Towns (National Geographic Adventure Magazine)
(j) Top 10 Hot City for Entrepreneurs (Entrepreneur Magazine)
CCIM REPORTS AND LISTING ANALYSIS
(40) There are 2,138 underlying CCIM PDF sets. All are available on the property website or on request.
(41) For your convenience, the following CCIM reports are available on the CBC, LoopNet, Lands of Missouri and any other property websites that allow unlimited PDF files:
(a) 1, 3 and 5 mile radius map
(b) Drive time map
(c) Flood plain map
(d) Graphic profile pack
(e) Hotel & motel pack
(f) Market profile pack
(g) Medical spending pack
(h) Office & industrial pack
(i) Restaurant pack
(j) Retail forecast pack
(k) Retail locator report
(l) Retail pack
(m) Retail potential pack
(n) Retail spending pack
(o) Site report
(p) Traffic close-up map
(q) Traffic count pack
(r) Traffic map
(42) All analysis is based on defined and published sources. Unless otherwise noted, all demographic and econometric data is from Site to do Business, the demographic & econometric arm of the Certified Commercial Investment Member (CCIM) Commercial Investment Real Estate Institute. This CCIM service is in collaboration with ESRI. Most annual % change estimates and traffic projections are based on Coldwell Banker Commercial Southwest Partners proprietary models.
RETAIL GAP ANALYSIS
(43) Definition: Unmet local retail demand at 5-min. drive-time
(44) Top opportunities summary:
(a) Top 3 opportunities: Avg $6.4M+ annual potential revenues from unmet local retail demand
(b) Top 5 opportunities: Avg $4.9M+ annual potential from unmet local retail demand
(c) Top 10 opportunities: Avg $2.8M+ annual potential revenues from unmet local retail demand
(45) Top opportunities
(a) Auto dealer: $8.5+ annual potential revenues from unmet local retail demand
(b) Food & beverage store: $7.3M+ annual potential revenues from unmet local retail demand
(c) Clothing & accessories: $3.5M+ annual potential revenues from unmet local retail demand
(d) Health & personal care: $3.0M+ annual potential revenues from unmet local retail demand
(e) Furniture & home furnishings: $2.0M+ annual potential revenues from unmet local retail demand
POTENTIAL GOVERNMENT FINANCING AND INCENTIVE PROGRAMS
The following may be available depending on business plan details. Consult the Springfield Partnership for Economic Development for details.
(46) Potential financing programs
(a) Industrial Revenue Bonds. Tax-exempt bonds with attractive interest rates. Based on cost of property acquisition, construction and/or equipment.
(b) Linked Deposit Program. Partners with lenders to provide low-interest loans. Based on creating and retaining jobs.
(47) Potential Incentives
(a) Enhanced Enterprise Zone. 50% tax abatement for 10 years. Includes saleable, refundable tax credits. Based on creating jobs and making investments in the zone. Additional abatement for LEED-Silver.
(b) Missouri Quality Jobs. Retained state payroll tax withholdings and refundable, saleable tax credits. Based on creating jobs with benefits paying more than County average wage.
(c) Development Tax Credits. Credits needed to make a project viable to support full-time year round jobs. Based on contributions to local non-profits.
(d) BUILD Missouri. Refundable state income tax credits. Based on creating either: (a) 100 manufacturing jobs + $15M in capital; or (b) 500 office jobs + $10M in capital.
(e) Missouri Training Programs. Two programs that cover costs for training for newly-created jobs.
Link:
SCHOOLS AND SCHOOL DISTRICT REVIEW
We utilize GreatSchools for comparative analysis of school districts and schools across geographic areas.
(48) Summary: All schools and the School District have extremely high GreatSchools ratings. All schools have extremely high Parent ratings and reviews. One of the top 5 School Districts we have analyzed.
(49) Willard R-II Independent School District
(a) 8 of 10 GreatSchools rating: Of 7 school districts within a 15-mile radius, 5 scored lower. Two scored the same and NONE scored higher.
(b) Schools: 7
(c) Students: 4,095
(d) Student/Teacher ratio: 14:1
(e) GreatSchools site:
(50) Willard High School (9-12)
(a) By the #s: 1,220 students with an 18:1 student teacher ratio.
(b) 8 of 10 GreatSchools rating: Of 25 high schools within a 15-mile radius, 18 scored lower. Four scored the same and only 2 scored higher.
(c) Distinguished GreatSchools recognition: It is among the few public high schools in Missouri to receive a distinguished GreatSchools Rating.
(f) GreatSchools Parent based ratings
Community rating: 4 of 5 stars
Principal leadership: 4 of 5 stars
Teacher quality: 4 of 5 stars
Parent Involvement: 4 of 5 stars
(51) Willard Middle School (7-8)
(a) By the #s: 629 students with a 16:1 student teacher ratio.
(b) 8 of 10 GreatSchools rating: Of 25 middle schools within a 15-mile radius, 20 scored lower. One 2 scored the same and only 2 scored higher.
(c) Distinguished GreatSchools recognition: It is among the few public middle schools in Missouri to receive a distinguished GreatSchools Rating.
(d) GreatSchools Parent based ratings
Community rating: 5 of 5 stars
Principal leadership: 4 of 5 stars
Teacher quality: 5 of 5 stars
Parent Involvement: 4 of 5 stars
(52) Willard Intermediate School (5-6)
(a) By the #s: 625 students with a 16:1 student teacher ratio.
(b) 8 of 10 GreatSchools rating: Of 25 intermediate schools within a 15-mile radius, 21 scored lower. One scored the same and only 2 scored higher.
(c) Distinguished GreatSchools recognition: It is among the few public intermediate schools in Missouri to receive a distinguished GreatSchools Rating.
(d) GreatSchools Parent based ratings
Community rating: 5 of 5 stars
Principal leadership: 5 of 5 stars
Teacher quality: 5 of 5 stars
Parent Involvement: 5 of 5 stars
(53) Willard East Elementary School (PK-4)
(a) By the #s: 625 students with a 14:1 student teacher ratio.
(b) 8 of 10 GreatSchools rating: Of 25 elementary schools within a 10-mile radius, 21 scored lower. Three scored the same (including Willard North) and NONE scored higher.
(c) Distinguished GreatSchools recognition: It is among the few public elementary schools in Missouri to receive a distinguished GreatSchools Rating.
(d) GreatSchools Parent based ratings
Community rating: 4 of 5 stars
Principal leadership: 4 of 5 stars
Teacher quality: 4 of 5 stars
Parent Involvement: 4 of 5 stars
DEMOGRAPHICS & ECONOMETRICS
(54) Summary
(a) Highest % growth in: population, households, families, average and median % growth in home values
(b) Highest family indicators in: avg. household size, % married, % divorced and % widowed
(c) Highest %: $50K-$74.9% household incomes and $100K-$149.9K household net worth
(d) Highest: median age and highest median household net worth
(e) Lowest %: homes for rent, less than $15K household incomes and household net worth less than $15K
(55) AREA Benchmarks: Census Tract; 1, 3 and 5-mile radiuses; 5, 10 and 15-minute drive-times; 65802 zip code; City of Springfield; and Greene County.
(56) Baseline: 5-minute drive time
(57) Highest AREA DEMOGRAPHIC Benchmarks
(a) % between 0-9 years old and % 45 and older
(b) Population growth, household growth and family growth
(c) Avg. household size
(d) Median age
(e) % married and living together
(f) % construction employees and % transportation employees
(58) AREA HOME Benchmarks.
(a) Lowest avg. and median home values
(b) Highest annual % growth in avg. and median home values
(c) Lowest % homes for rent
(d) Lowest leverage based on mortgage ratios of:
Avg. mortgage / avg. household income
Median mortgage / median household income
Median mortgage / median disposable income
(e) Highest % single family detached homes
(f) Lowest %: % single family attached homes; 3-49 multi-family homes; and 50+ multifamily homes
(59) AREA INCOME & WEALTH Benchmarks
(a) Highest annual % growth: $100K+ household incomes; $250K+ household incomes; and median household income
(b) Lowest % less than $25K household incomes
(c) Highest % $100K-$150 household net worth
(d) Lowest % less than $15K household net worth
(60) Springfield CBSA compared to largest CBSAs in MO and to MO
(a) Benchmarks. The largest CBSAs in the State (based on population) by size are: Saint Louis, Kansas City, Springfield, Joplin, Columbia, Jefferson City, Saint Joseph and Cape Girardeau.
(b) Highest annual % growth in: population; economy; avg. household income; and disposable income
(c) Second highest %: growth in: population 25 to 34 years old; married and living together; and tenant occupied homes
(d) Third largest: population and economy
(e) Second lowest: avg. years at current residence; % never married; and % separated
DISCLOSURES & COPYRIGHTS
Julie Broadbent, CCIM, is the owner and broker of record for this STAR listing. Coldwell Banker Commercial Southwest Partners is managing this listing through a STAR MAKER strategic agreement with Julie.
Coldwell Banker Commercial Southwest Partners is a wholly owned franchise of Alexander Tiffany Southwest, LLC. Analysis is preliminary, based on proprietary systems and models, is time sensitive and based on assumptions-stated and unstated. Graphics are only renderings. Measurements are only estimates. No warranties are expressed or implied. All content is protected by copyright laws, is only for prospects or legal representatives, and should not replace buyers own due diligence and analysis. Any other use is prohibited.
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