Historic Mixed-Use Property with Loft
For Sale
$3,200,000
124 S Joplin Avenue, Joplin, MO 64801
MultiFamily, Joplin, MO
Property Size36,000 SF
Lot Size0.55 Acres
Price / SF$88.89
Days on Market89
Property Features for 124 S Joplin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bathrooms
20
Full bathrooms
20
Rooms
Bathroom 15, Bathroom 8, Bathroom 12, Bathroom 6, Bathroom 11, Bathroom 18, Bathroom 16, Bathroom 10, Bathroom 20, Bathroom 13, Bathroom 9, Bathroom 2, Bathroom 7, Bathroom 17, Bathroom 1, Bathroom 3, Bathroom 19, Bathroom 14, Bathroom 4, Bathroom 5
Elementary school
Dover Hill
Middle school
North
Elementary school district
Joplin
Middle school district
Joplin
High school district
Joplin
Directions
From 7th and Main street, go north to 2nd street, west on 2nd to Joplin Ave. South on Joplin Ave, Building on Right side. Lennons & Brick& Morter lofts.
Subdivision
01 - Joplin City - NW
Standard status
Active
Size
36,000 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Annual Amount
10272
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air, Ceiling Fan(s)
Amenities
security cameras
secured entry points
Building Details
Year built
1906
Floors in Building
2
Number of units
17
Flooring type
Wood, Concrete
Architectural style
Other
Listing Agency:
CHARLES BURT REALTORS
(417) 782-1234
Listed By:
Summer George · License #2010011832
(417) 388-4132
Added: Jun 11
Changed: Sep 4
Last Checked: Sep 7 at 8:06AM
MLS# 263215
Copyright © 2026 Ozark Gateway Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1906, this 36,000-square-foot mixed-use property combines residential lofts and commercial improvements across two Joplin Avenue buildings. The primary building contains 14 individually designed lofts, all leased, along with 6,000 square feet of completed retail area and another 6,000 square feet of unfinished space. Original character includes hardwood flooring, exposed structural beams, and ceiling heights ranging from 14 to 16 feet. The commercial area includes an overhead glass garage door, fireplace, two bathrooms, dressing rooms, private office, and an additional bathroom. A courtyard and delivery area connect to the unfinished portion through roll-up doors.
The offering also includes 110 S Joplin Avenue, a 12,000-square-foot building that is currently leased. Residents and commercial occupants have access to 16 indoor secured parking spaces, controlled building entry, exterior and garage security cameras, and a full sprinkler system. Central heating and air conditioning, natural gas, wood flooring, and concrete flooring are among the property’s existing systems and finishes.
The offering also includes 110 S Joplin Avenue, a 12,000-square-foot building that is currently leased. Residents and commercial occupants have access to 16 indoor secured parking spaces, controlled building entry, exterior and garage security cameras, and a full sprinkler system. Central heating and air conditioning, natural gas, wood flooring, and concrete flooring are among the property’s existing systems and finishes.
Key Highlights
- 14 fully leased industrial‑style lofts with distinct layouts and finishes
- 36,000 square feet across two buildings on 0.55 acres
- 6,000 square feet of finished retail space plus 6,000 square feet unfinished
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$284,170
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,683,400
$5.7M
Cap Rate 7%
$4,059,571
$4.1M
Cap Rate 9%
$3,157,444
$3.2M
Market Conditions
NOI Build-Up for 36,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$561.6K $15.60/SF
− Vacancy
−$44.9K −$1.25/SF
EGI
$516.7K $14.35/SF
− OpEx
−$232.5K −$6.46/SF
NOI
$284.2K $7.89/SF
Area
Jasper County, MO
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,683,400
Cap Rate 7%
$4,059,571
Cap Rate 9%
$3,157,444
Alternative Uses
Best Use
Retail
$4.85M
$4.25M – $5.66M
NOI $339,656 @ 7.0% cap · market cap 10.61%
Second Best
Mixed Use
$4.61M
$4.04M – $5.38M
NOI $322,920 @ 7.0% cap · market cap 10.09%
Theoretical Best
Office A
$10.86M
$9.50M – $12.67M
NOI $760,320 @ 7.0% cap · market cap 23.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,160
Businesses Nearby
Explore this area
Business Placement
Demographics for 64801, MO
35,234
Population
17,460
Households
2
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
57.5 sq mi
ZIP Area
613
Density / Sq Mi
$51,360
Median Household Income
$31,103
Median Earnings
$884
Median Rent
$176,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A 1906 redevelopment combines fully leased loft residences with finished and unfinished commercial space.
Where is this mixed-use property located?
The property is located at 124 S Joplin Avenue Joplin, MO.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 14 fully leased industrial‑style lofts with distinct layouts and finishes; 36,000 square feet across two buildings on 0.55 acres; 6,000 square feet of finished retail space plus 6,000 square feet unfinished
