Warehouse Flex with
For Sale
$475,000
2605 St Joseph Avenue, St Joseph, MO 64505
COMMERCIAL - St Joseph, MO
Property Size7,200 SF
Lot Size0.73 Acres
Price / SF$65.97
Days on Market3793
Property Features for 2605 St Joseph Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M2 Hea
Bathrooms
1
Half bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
35
Parking features
Parking Lot
Directions
From I-29, exit on I-229. I-229 to US 59 (St Joseph Ave). North on St. Joseph Ave to property at 5th Ave.
Subdivision
1132 - Buchanan Co NW-N=Co Line;S=I-36;E=I-29;W=M
Standard status
Active
APN
06-3.0-05-001-002-091.000
Lot size
0.73 Acres
Taxes and HOA fees
Tax Annual Amount
2455
Amenities
large plate glass windows
newly paved parking lot
Building Details
Year built
1960
Floors in Building
1
Listing Agency:
BHHS Stein & Summers Real Estate · Berkshire Hathaway HomeServices
(816) 232-2000
Listed By:
RAY SISSON · License #1999020688
(816) 390-7478
Added: Mar 25, 2016
Changed: Aug 4
Last Checked: Aug 12 at 7:06PM
MLS# 112228
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.
Investment Insights
Based on property information with market context.
This flex warehouse includes 7,200 SF of total space with 7,000 SF on the main floor and an additional 200 SF mezzanine. The building features large plate glass windows, a large newly paved parking lot, and a newly installed roof completed in September 2025. HVAC was replaced in 2025, and the electrical service is rated at 400 amp with 3-phase power.
Located on a corner at Helena & St. Joseph Ave., the property sits near a signaled intersection of St. Joseph Ave and 5th Avenue. The building is not located in the floodway or a flood zone. Zoning is listed as M2 Hea.
With a paved parking area and substantial main-floor footprint plus mezzanine space, the layout can support a range of light industrial or flexible operating needs consistent with the M2 Hea zoning designation.
Located on a corner at Helena & St. Joseph Ave., the property sits near a signaled intersection of St. Joseph Ave and 5th Avenue. The building is not located in the floodway or a flood zone. Zoning is listed as M2 Hea.
With a paved parking area and substantial main-floor footprint plus mezzanine space, the layout can support a range of light industrial or flexible operating needs consistent with the M2 Hea zoning designation.
Key Highlights
- 7,200 SF building available at the corner of Helena & St. Joseph Ave (7,000 SF main floor plus 200 SF mezzanine)
- Large plate glass windows and a newly paved parking lot
- New roof installed September 2025 and new HVAC in 2025
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
$29,641
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
6.24%
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%
$592,820
$592.8K
Cap Rate 7%
$423,443
$423.4K
Cap Rate 9%
$329,344
$329.3K
Market Conditions
NOI Build-Up for 7,200 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
$50.1K $6.96/SF
− Vacancy
−$4.5K −$0.63/SF
EGI
$45.6K $6.33/SF
− OpEx
−$16.0K −$2.22/SF
NOI
$29.6K $4.12/SF
Area
Buchanan County, MO
Vacancy
9.00%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
35.00%
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%
$592,820
Cap Rate 7%
$423,443
Cap Rate 9%
$329,344
Alternative Uses
Best Use
Flex RnD
$423.4K
$370.5K – $494.0K
NOI $29,641 @ 7.0% cap · market cap 6.24%
Second Best
Warehouse
$419.0K
$366.7K – $488.9K
NOI $29,333 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $152,064 @ 7.0% cap · market cap 32.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64505, MO
13,261
Population
5,836
Households
2.3
Avg Household Size
41
Median Age
28%
College-Educated
92%
High-School Grad
45.6 sq mi
ZIP Area
291
Density / Sq Mi
$70,741
Median Household Income
$45,664
Median Earnings
$976
Median Rent
$186,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Foxly Bros. Catering — 2101 St Joseph Ave, St Joseph, MO 64505
- Zubs Katering — 1412 N 3rd St, St Joseph, MO 64505
Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse offering 7,200 SF with a small mezzanine, large plate glass windows, and newly updated roof and HVAC.
Where is this flex space located?
The property is located at 2605 St Joseph Avenue St Joseph, MO.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 7,200 SF building available at the corner of Helena & St. Joseph Ave (7,000 SF main floor plus 200 SF mezzanine); Large plate glass windows and a newly paved parking lot; New roof installed September 2025 and new HVAC in 2025
