Renovated Flex Space with Loading
For Sale
$1,700,000
231 N Main Street, Joplin, MO 64801
Commercial Sale, Joplin, MO
Property Size13,800 SF
Lot Size0.72 Acres
Price / SF$123.19
Days on Market330
Property Features for 231 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M-2
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 3, Bathroom 5, Bathroom 1, Bathroom 4
Fencing
Chain Link
Directions
From 1st and Main St, Joplin, north 2 blocks, east side.
Subdivision
01 - Joplin City - NW
Standard status
Active
APN
19200310032014000
Size
13,800 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Description
WILSON & HUTTON 1ST LOTS 14 TO 16 INC & VAC ALLEY LYING E & ADJ SD LOTS
Tax Annual Amount
5070
Legal Description
WILSON & HUTTON 1ST LOTS 14 TO 16 INC & VAC ALLEY LYING E & ADJ SD LOTS
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Amenities
welcoming lobby
built-in reception desk
large conference room
break room
smart lock system
key card access
20+ security cameras
LED lighting conversion
smart home and motion lighting
app-controlled garage doors
Argon-filled exterior windows
back deck designed for employee breaks
65-inch built-in smart board
Building Details
Year built
1950
Flooring type
Concrete, Vinyl
Listing Agency:
KELLER WILLIAMS REALTY ELEVATE
(417) 623-9900
Listed By:
Amy Hunt Team · License #2017015942
(417) 499-8699
Added: Oct 16, 2025
Changed: Sep 3
Last Checked: Sep 10 at 12:06PM
MLS# 255797
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.
This 13,800-square-foot flex property was renovated three years ago and is arranged as three separate suites that currently function together. The office component includes seven private offices, a lobby, reception desk, conference room, break room, five bathrooms, two storage rooms, and an open hallway. Both the warehouse and event space have central heating and air conditioning. Concrete and vinyl flooring are installed throughout the property.
The site includes a 0.72-acre lot with a fenced and gated yard, one exterior loading dock, and six covered interior loading docks. Access and security improvements include key-card entry, smart locks, more than 20 security cameras, LED lighting, motion-activated lighting, and app-controlled garage doors. The property is zoned M-2 and also features new Argon-filled exterior windows, a back deck, and multiple garage-door configurations.
The site includes a 0.72-acre lot with a fenced and gated yard, one exterior loading dock, and six covered interior loading docks. Access and security improvements include key-card entry, smart locks, more than 20 security cameras, LED lighting, motion-activated lighting, and app-controlled garage doors. The property is zoned M-2 and also features new Argon-filled exterior windows, a back deck, and multiple garage-door configurations.
Key Highlights
- 13,800 square feet on a 0.72‑acre lot
- Three separate suites currently operated as one
- Seven private offices, conference room, break room, five bathrooms, and two storage rooms
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
$67,917
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
4.00%
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%
$1,358,340
$1.4M
Cap Rate 7%
$970,243
$970.2K
Cap Rate 9%
$754,633
$754.6K
Market Conditions
NOI Build-Up for 13,800 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
$82.8K $6.00/SF
− Vacancy
−$2.9K −$0.21/SF
EGI
$79.9K $5.79/SF
− OpEx
−$12.0K −$0.87/SF
NOI
$67.9K $4.92/SF
Area
Jasper County, MO
Vacancy
3.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,358,340
Cap Rate 7%
$970,243
Cap Rate 9%
$754,633
Alternative Uses
Best Use
Office B
$2.60M
$2.27M – $3.03M
NOI $181,829 @ 7.0% cap · market cap 10.70%
Second Best
Warehouse
$970.2K
$849.0K – $1.13M
NOI $67,917 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$4.16M
$3.64M – $4.86M
NOI $291,456 @ 7.0% cap · market cap 17.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Dock-high doors
3
Office units
Single-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
990
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Three suites, extensive office improvements, and controlled-access features support adaptable commercial operations.
Where is this flex space located?
The property is located at 231 N Main Street Joplin, MO.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 13,800 square feet on a 0.72‑acre lot; Three separate suites currently operated as one; Seven private offices, conference room, break room, five bathrooms, and two storage rooms
