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    2300 Mitchell Ave St Joseph, MO 64507

    Sponsored
    For Sale
    $1,500,000

    COMMERCIAL - St Joseph, MO

    Lot size:
    3.72 Acres
    Days on Market:
    34
    Last Refresh:
    Jan 20 at 5:06 pm

    Property Features for 2300 Mitchell Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    M1/C1
    APN
    06-5.0-16-004-002-141.000
    Parking
    75
    Parking features
    Parking Lot
    Interior features
    Storage, Private Restroom
    Exterior features
    Delivery Door(s)
    Lot size
    3.72 Acres

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1970
    Floors in Building
    1
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Michael Hesselmann

    Realty ONE Group Cornerstone (816) 273-3801 [email protected]

    Listing agent Michael Hesselmann (816) 232-4506

    Listing date Dec 18, 2025

    Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    St Joseph Industrial/Warehouse Opportunity

    Located less than 1 mile from US-36 Hwy, this industrial/warehouse space offers 34,530 square feet on a 3.72-acre lot. The building is zoned M-1, while the parking lot is zoned C-1. Formerly operated as a grocery store, the building can be divided into multiple lease units and build to suit. The owner is open to dividing the parcel and selling the front parking lot, with potential for pad site development. The building features 14' ceilings, a loading dock, and a drive-through door. It also includes 3-phase electrical with 2000 AMP-120/208v, a 2" water service line, a 6" fire service line, and a certified sprinkler system that is up to code. Recent updates include the addition of an overhead door opener, installation of high bay lights and additional plugs, and the installation of 3 split system units in 2024. In 2023, the concrete dock ramp door was demolished and replaced, new concrete was added to the 12' overhead door, rough water piping and stud walls were installed, and a camera and security system were installed. 2022 updates include new exterior paint, electrical work, plumbing work, metal sheeting and insulation added to the old storefront, canopy roof and metal caps replaced, and a 12' front overhead door installed. The main roof was replaced in 2020.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    St Joseph
    County
    Buchanan
    State
    Missouri
    Longitude
    -94.832816
    Latitude
    39.754351

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    FAQs

    What type of property is this?
    Warehouse - 34,530 SF industrial/warehouse on 3.72 acres near US-36.
    Where is this warehouse located?
    The property is located at 2300 Mitchell Ave St Joseph, MO.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - Excellent Location: Less than 1 mile from US-36 Hwy for easy access.; - Substantial Space: 34,530 sq ft building on a 3.72-acre lot.; - Flexible Zoning: Zoned M-1 and C-1, with development potential.
    (816) 804-3764
    Request Owner's contact information
    2300 Mitchell Ave St Joseph, MO 64507
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    St Joseph, MO 64507
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2300 Mitchell Ave St Joseph, MO 64507
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    We can help!
    Listing Contact
    Michael Hesselmann
    Real Estate License ID: 2024041616
    (816) 804-3764
    Learn more
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