NEW CLOUD LISTING WITH COLDWELL BANKER VANGUARD IN SPRINGFIELD, MISSOURI! 3.8 acres zoned highway commercial with 481 est. frontage on W Chestnut Expy with significant unmet retail demand and high growth projections!
COLDWELL BANKER VANGUARD in SPRINGFIELD, MO has been retained as the exclusive advisor for the sale of Chestnut Park on I44B inside the loop in the Springfield City Limits. Coldwell Banker Commercial Southwest Partners is managing this CLOUD LISTING through a strategic agreement with Vanguard with owner approval.
Extensive unmet local retail demand. At a 5-minute drive-time, top 10 opportunities range from $375K+ to $8.5M+ in annual potential revenues (Total $). Top 3 avg: $6.4M+ Total $, $976 annually per HH & $ 396 annually per person; Top 5 avg: $4.9M+ Total $738 annually per HH & $299 annually per person; and Top 10 avg: $2.8M+ Total $, $427 annually per HH & $17...
Extensive unmet local retail demand. At a 5-minute drive-time, top 10 opportunities range from $375K+ to $8.5M+ in annual potential revenues (Total $). Top 3 avg: $6.4M+ Total $, $976 annually per HH & $ 396 annually per person; Top 5 avg: $4.9M+ Total $738 annually per HH & $299 annually per person; and Top 10 avg: $2.8M+ Total $, $427 annually per HH & $173 annually per person.
Top specific opportunities include: auto dealer, food & beverage store (convenience), clothing & accessories, health and personal care (like RX), furniture & home furnishings, sports/hobbies/music and a drinking place (alcoholic beverages).
Chestnut Park # 1 has 2.59 acres. It was sold to the City of Springfield. A new Fire Station is under construction.
Chestnut Park pricing ranges from $206,000 to $4,253,000. Price per SF ranges from $1.71 to $3.79. Acreage ranges from 1.61 to 42.72!
This offering is for Tract # 8. 3908 West Chestnut Expressway. It is zoned Highway Commercial (HC). It has 481 W Chestnut frontage. It spans 3.80 acres (165,528 est. SF) and is priced at $424,000 or $2.57 SF.
We performed extensive retail gap analysis utilizing CCIM and other tools. Key findings include: high projected demographic and economic growth within a 5-minute drive-time, very limited undeveloped commercial/retail land competition, acceleration of employment from Partnership Industrial Center West and the Airport.
PLUS 5% buyer broker commission.
OWNER IS A REAL ESTATE AGENT
The owner is a licensed Missouri Realtor. The owner is NOT representing the property and is NOT receiving any commission payable under the listing agreement.
HIGHLIGHTS
(1) NEW CLOUD LISTING WITH COLDWELL BANKER VANGUARD IN SPRINGFIELD, MISSOURI with 5% BBC!
(2) 3.8 acres zoned highway commercial with 481 est. frontage on W Chestnut Expy inside the Loop between I44 & downtown
(3) Within 5-min. drive-time top 3 retail opportunities avg. $7.6M+ in potential annual revenues, top 5 avg. $5.9M+ and top 10 avg. $3.7M+
(4) Only 2.8 mi. to the Partnership Industrial Center West, 2.9 mi. to Springfield-Branson National Airport and 3 mi. to downtown
(5) In the very high performing Willard R-II ISD with elementary students attending the newest school in the district
(6) Within a 5-minute drive-time, the area has the highest projected annual % growth in: population, households, families, $100K and higher households and $250K and higher households of all Benchmarks we analyzed for this offering*
(7) Compared to the 7 largest Missouri CBSAs, the Springfield CBSA has the highest annual % growth in: population; economy; avg. household income; and disposable income
(8) The Springfield CBSA is tied for # 1 most recession resistant CBSA in the State and is 12% more recession resistant than MO
AREA Benchmarks include: the Census Tract; 1, 3 and 5-mile radiuses; 5, 10 and 15-minute drive-times, zip code and the City of Springfield. ALL Benchmarks include AREA Benchmarks, the Springfield CBSA, the Springfield DMA, Missouri and the US.
RETAIL GAP SUMMARY
(33) Defined. Retail gap analysis measures local retail demand vs. local retail supply. When demand is higher than supply, there is a retail gap.
(34) Unmet local retail demand at a 5-minute drive-time summary.
(a) Top 10 opportunities range from $375K+ to $8.5M+ in annual potential revenues (Total $).
(b) Top 3 avg: $6.4M+ Total $, $976 annually per HH & $ 396 annually per person.
(c) Top 5 avg: $4.9M+ Total $738 annually per HH & $299 annually per person.
(d) Top 10 avg: $2.8M+ Total $, $427 annually per HH & $173 annually per person.
(35) Key top opportunities.
(a) Auto dealer $8.5M+ Total $. $1,285 annually per HH & $522 annually per person.
(b) Food & Beverage Store $7.3M+ Total $. $1,105 annually per HH & $449 annually per person.
(c) Clothing & Accessories $3.5M+ Total $. $537 annually per HH. $218 annually per person.
(d) Health & Personal Care $3M+ Total $. $460 annually per HH. $186 annually per person.
(e) Furniture & Home Furnishings $2M+ Total $. $304 annually per HH. $123 annually per person.
(f) Sports/Hobbies/Music $1.5M+ Total $. $226 annually per HH. $91 annually per person.
(g) Drinking Place (Alcohol) $750K+ Total $. $116 annually per HH. $47 annually per person.
AVAILABLE TRACTS
(36) Tract #1. SOLD.
(37) Tract # 2. 3903 West Chestnut Expressway.
Zoned Medium-Density Multi-Family Residential District (R-MD) for 198 units
6.85 acres (298,386 est. SF).
$750,000 or $2.52 SF.
(38) Tract # 3. 3903 West Chestnut Expressway.
Zoned Planned Development District (PD) for 246 units.
13.71 acres (597,208 est. SF).
$1,080,000 or $1.81 SF.
(39) Tract # 4. 3904 West Chestnut Expressway.
Zoned Low-Density Multi-Family Residential District (R-LD) for 47 units.
2.76 acres (120,226 est. SF).
$206,000 or $1.72 SF.
(40) Tract # 5. 3905 West Chestnut Expressway.
Zoned Residential Townhouse District (R-TH) for 15 duplex lots.
3.17 acres (138,000 est. SF). Fifteen 80 * 115 minimum lots.
Detention in on-site and off-site.
REDUCED $130K+ to $397,500 ($3.80 SF).
(41) Tract # 6. 3906 West Chestnut Expressway.
Zoned Medium-Density Multi-Family Residential District (R-MD).
1.61 acres (70,132 est. SF). Site plan for 48 units included in sale.
Detention in on-site and off-site.
$239,000 or $3.41 SF.
(42) Tract # 7. 3907 West Chestnut Expressway.
Zoned Medium-Density Multi-Family Residential District (R-MD).
3.69 acres (160,736 est. SF).
Detention in on-site and off-site.
$314,000 or $1.96 SF.
(43) Tract # 8. 3908 West Chestnut Expressway.
Zoned Highway Commercial (HC).
481 W Chestnut frontage. 3.80 acres (165,528 est. SF).
Detention in on-site and off-site.
$424,000 or $2.57 SF.
(44) Tract # 9. 3909 West Chestnut Expressway.
Zoned Highway Commercial (HC).
336 W Chestnut frontage. 2.09 acres (91,040 est. SF).
$327,000 or $3.60 SF.
(45) Tract # 10. 3910 West Chestnut Expressway.
Zoned General Manufacturing (GM).
Preliminary self-storage plan included. 5.04 acres (219,542 est. SF).
$390,000 or $1.78 SF.
(46) Tract # 11. 3911 West Chestnut Expressway.
# 2 & # 3. Multiple zoning.
20.56 acres (895,593 est. SF).
$1,830,000 or $2.04 SF.
(47) Tract # 12. 3912 West Chestnut Expressway.
# 8 & # 9. Zoned Highway Commercial (HC).
817 W Chestnut frontage. 5.89 acres (256,568 est. SF).
$751,000 or $2.29 SF.
(48) Tract # 14. 3914 West Chestnut Expressway.
Entire offering. Multiple zoning.
42.72 acres (1,860,798 est. SF).
$4,253,500 or $2.29 SF.
(49) In City limits? Yes.
(50) School district. Willard R-II Independent School District.
LOCATION
(51) Directly on the Chestnut Expressway (I44 Business).
(52) Easy I44 access. 1.4 mi. to Interstate 44 and Chestnut Expressway, 2.7 mi. to Interstate 44 and US Highway 160 North, 4.9 mi. to Interstate 44 and the James River Freeway, 9.8 mi. to Interstate 44 and US 65 North.
(53) Superior access to local communities. 5.5 mi. to Brookline, 9.0 mi. to Willard, 10.6 to Quail Creek and 12.5 mi. to Galloway.
(54) Excellent Missouri access. 48 mi. to Branson, 70 mi. to Joplin, 141 mi. to Jefferson City, 172 mi. to Columbia, 219 mi. to St. Louis and 223 mi. to St. Joseph.
(55) Unmatched regional access. 144 mi. to Fayette, AR, 192 to Kansas City, KS, 198 to Tulsa, OK, 219 to Little Rock, AR and 251 to Wichita, KS.
(56) Airport access. 6.6 mi. to Springfield-Branson National Airport (KSGF) and 7.1 mi. to Springfield Downtown Executive Airport.
SCHOOLS AND SCHOOL DISTRICT REVIEW
We utilize GreatSchools for comparative analysis of school districts and schools across geographic areas.
(57) Summary. All schools and the School District have extremely high GreatSchools ratings. It is the 1st time we have evaluated 4 schools attended by residents and all 4 schools had at least an 8 of 10 Greatschools Rating. All schools have extremely high Parent ratings and reviews. One of the top 5 School Districts we have analyzed.
(58) 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.
(59) 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.
(d) Most recent parent review. My kids came in (to the school system) after home schooling. We were very wary of public school in general. My oldest is now a junior at Drury and had a very good high school experience. The choral music department is fabulous! I only hope Mark Lawley is still there for my fourth graders when they get there!
(e) Most recent student review. Willard provided me with a great education. I graduated not only prepared for college but also prepared for the 'real world'. This school district is amazing and always goes above and beyond for all students. I am proud to say I attend K-12 as a Willard Tiger.
(60) 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.
(e) Most recent parent review. None provided.
(f) Most recent student review. None provided.
(61) 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.
(e) Most recent parent review. None provided.
(f) Most recent student review. None provided.
(62) 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.
(e) 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.
(d) Most recent parent reviews. (The very) BEST teachers, Principal Miller is GREAT, awesome, deserving kids. Need I say more? I love Willard School because they have the best teachers and it's in a wonderful neighborhood. My daughter is absolutely blossoming at Willard East. Every teacher in every area genuinely cares about the kids' success and their enjoyment of school. All the staff is great to communicate with parents and teachers. Also, the test scores produced by Willard East are amazing!
(e) Most recent student review. None provided.
(63) Area private schools. Christian Schools of Springfield, Springfield SDA School, Springfield Catholic High School, Greenwood Laboratory School, Assemblies of God Christ School, Now Covenant Academy and Park Avenue Christian School.
DEMOGRAPHICS & ECONOMETRICS
(64) 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 house-hold net worth
(d) Highest: median age and highest median household net worth
(e) Lowest %: homes for rent, less than $15K household incomes and house-hold net worth less than $15K
(65) AREA Benchmarks. Census Tract; 1, 3 and 5-mile radius; 5, 10 and 15-minute drive-times; 65802 zip code; City of Springfield; and Greene County.
(66) Baselines. 5-minute drive time and 2011 projections unless specifically otherwise defined.
(67) 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.
(68) 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.
(69) 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.
(70) 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. 9 Benchmarks including the State.
(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) Third highest: annual % growth in $100K+ and $250K household incomes;
avg. home values; % bachelors, masters, doctorate and professional de-grees.
(f) Second lowest: avg. years at current residence; % never married; and % separated.
(71) Workforce recession resistance.
(a) Proprietary methodology. We utilize a proprietary model utilizing distribution of employees and employers by sectors as an indicator of recession resistance of markets.
(b) Model overview. The model applies a weighting to estimate recession implications for each sector. Next, it aggregates the data by geography. It then indexes the findings to the State and US and compares each geographic area to all others.
(c) Summary.
? The Springfield CBSA is tied for # 1 as most resistant MO CBSA.
? The Springfield CBSA is 12% more resistant than Missouri and the US.
? Missouri essentially mirrors the US in workforce resistance.
(72) Definitions.
(a) Census Tract. A Census Tract, census area, or census district is a geographic region defined for the purpose of taking a census. Usually these coincide with the limits of cities, towns or other administrative areas and several tracts commonly exist within a county. In unincorporated areas of the United States these are often arbitrary, except for coinciding with political lines.
(b) CBSA. A Core Based Statistical Area (CBSA) is a an area containing the core urban area, as well as any adjacent counties that have a high degree of social and economic integration (as measured by commuting to work) with the urban core. CBSA is a US Census Bureau definition.
(c) DMA. Simply a Designated Market Area (DMA) is a TV market. Defined by Nielsen they are groups of counties that make up a particular TV market. These counties comprise the major viewing audience for the TV stations in their metropolitan area. It is the broadest regional definition we utilize.
5% BUYER BROKER COMMISSION
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CONTACT INFORMATION
Call 1.979.421.9996 to set up an appointment, request additional information or answer any questions.
GRAPHIC ANALYSIS
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.
There are 2,137 underlying PDF sets. All are available on the property website or on request.
DISCLOSURES & COPYRIGHTS
COLDWELL BANKER VANGUARD in SPRINGFIELD, MO has been retained as the exclusive advisor for the sale of Chestnut Park on I44B inside the loop in the Springfield City Limits. Coldwell Banker Commercial Southwest Partners is managing this CLOUD LISTING through a strategic agreement with Vanguard with owner approval.
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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