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    Mixed-Use Building with Rooftop Deck Title is generated by Realmo AI

    702 S Wall Avenue, Joplin, MO 64801

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    For Sale
    $2,200,000

    COMMERCIAL - Joplin, MO

    Property size:
    17,940 SF
    Lot size:
    0.60 Acres
    Price / SF:
    $122/SF
    Added:
    Apr 21, 2025
    Days on Market:
    411
    Last Refresh:
    Jun 5 at 8:06 pm

    Property Features for 702 S Wall Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-2
    Standard status
    Active
    APN
    31-001411-0000
    Size
    17,940 SF
    Lot size
    0.60 Acres

    Taxes and HOA fees

    Tax Annual Amount
    10381

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Number of units
    14
    Flooring type
    Concrete, Vinyl
    Roof type
    Rubber

    We can help!

    Listing Contact
    Luke Gibson
    Luke Gibson

    Listing agent Luke Gibson License #2015033987

    Listing office GLENN GIBSON COMMERCIAL REAL ESTATE 2650 E 32nd Street Ste. 221, JOPLIN, MO

    Listing date Apr 21, 2025

    MLS# 252107

    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.

    HighLights

    • Mixed‑use property with 12 apartments plus 2 ground‑level commercial spaces
    • Forced air heating and central air cooling
    • Rooftop deck with shared access
    • Ample off‑street/private parking for tenants and customers
    • Rubber roof
    • Year built: 1920

    Overview

    This mixed-use building offers a combination of residential and commercial space, with 12 apartment units and two ground-level commercial spaces suited for retail or office use. The apartments are described as modern and designed with open floor plans and large windows that bring in natural light. Building amenities include private off-street parking for tenants and customers, as well as a shared rooftop deck with panoramic views.

    Located at 702 S Wall Avenue in Joplin, Missouri, the property is positioned in the downtown core. The remarks indicate close proximity to the Cornell Complex and nearby downtown destinations, creating a walkable environment for residents and commercial tenants.

    For buyers and operators, this configuration supports a mixed-income ownership model, with income potential tied to both apartment rentals and street-level commercial tenants. The ground-floor layout is intended to serve retail or service-oriented users, while the apartment component provides on-site residential demand. The on-site parking and rooftop deck can also help make the property more attractive to both tenants and customers in a downtown setting.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $251.9k $14.04
    − Vacancy −$10.1k −$0.56
    EGI $241.8k $13.48
    − OpEx −$72.5k −$4.04
    NOI $169.3k $9.43
    17,940 SF · lease $14.04/SF/yr · vacancy 4.00% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $2.42M
    $2.12M – $2.82M (±1% cap)
    NOI $169,262 @ 7.0% cap · market cap 7.69%
    Second Best
    Mixed Use
    $2.30M
    $2.01M – $2.68M (±1% cap)
    NOI $160,922 @ 7.0% cap · market cap 7.31%
    Theoretical Best
    Office A
    $5.41M
    $4.74M – $6.31M (±1% cap)
    NOI $378,893 @ 7.0% cap · market cap 17.22%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Willington Lofts Apartment Building Joplin Elder Law Law Firm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Joplin
    County
    Jasper
    State
    Missouri
    Longitude
    -94.516037
    Latitude
    37.083914

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    FAQs

    What type of property is this?
    Mixed-use property - Downtown Joplin mixed-use building with 12 apartments, ground-floor retail/office space, off-street parking, and shared rooftop deck.
    Where is this mixed-use property located?
    The property is located at 702 S Wall Avenue Joplin, MO.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Mixed‑use property with 12 apartments plus 2 ground‑level commercial spaces; Forced air heating and central air cooling; Rooftop deck with shared access
    (417) 359-6868
    We can help!
    Listing Contact
    Luke Gibson
    Luke Gibson
    Real Estate License ID: 2015033987
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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.

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