Mixed-Use Building With
For Sale
$2,200,000
702 S Wall Avenue, Joplin, MO 64801
Commercial Sale, Joplin, MO
Property Size17,940 SF
Lot Size0.60 Acres
Price / SF$122.63
Days on Market497
Property Features for 702 S Wall Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Directions
From 7th and Main, west on 7th to property at SWC 7th and Wall Ave. Parking on west side of building, entrance on Pearl Ave.
Subdivision
03 - Joplin City - SW
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
Amenities
rooftop deck
Building Details
Year built
1920
Number of units
14
Flooring type
Vinyl, Concrete
Roof type
Rubber
Listing Agency:
GLENN GIBSON COMMERCIAL REAL ESTATE
(417) 825-8213
Listed By:
Luke Gibson · License #2015033987
(417) 359-6868
Added: Apr 21, 2025
Changed: Aug 20
Last Checked: Aug 30 at 10:06PM
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.
Investment Insights
Based on property information with market context.
This mixed-use property at 702 S Wall Avenue contains 17,940 square feet on a 0.6-acre site. The building includes 12 apartments alongside 2 ground-level commercial spaces suited to retail or office occupancy. Shared building amenities include off-street parking for tenants and customers and a rooftop deck with views across downtown Joplin.
The property is in central Joplin near the Cornell Complex, with dining, galleries, shopping, and entertainment in the surrounding downtown area. Built in 1920, the building has vinyl and concrete flooring, forced-air heating, central air, and a rubber roof. C-2 zoning supports its mixed residential and commercial configuration.
The property is in central Joplin near the Cornell Complex, with dining, galleries, shopping, and entertainment in the surrounding downtown area. Built in 1920, the building has vinyl and concrete flooring, forced-air heating, central air, and a rubber roof. C-2 zoning supports its mixed residential and commercial configuration.
Key Highlights
- 12 apartments within a 17,940‑square‑foot mixed‑use building
- 2 ground‑level commercial spaces for retail or office use
- 0.6‑acre property at 702 S Wall Avenue, Joplin, MO 64801
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
$169,262
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
7.69%
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%
$3,385,240
$3.4M
Cap Rate 7%
$2,418,029
$2.4M
Cap Rate 9%
$1,880,689
$1.9M
Market Conditions
NOI Build-Up for 17,940 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
$251.9K $14.04/SF
− Vacancy
−$10.1K −$0.56/SF
EGI
$241.8K $13.48/SF
− OpEx
−$72.5K −$4.04/SF
NOI
$169.3K $9.43/SF
Area
Jasper County, MO
Vacancy
4.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$3,385,240
Cap Rate 7%
$2,418,029
Cap Rate 9%
$1,880,689
Alternative Uses
Best Use
Retail
$2.42M
$2.12M – $2.82M
NOI $169,262 @ 7.0% cap · market cap 7.69%
Second Best
Mixed Use
$2.30M
$2.01M – $2.68M
NOI $160,922 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$5.41M
$4.74M – $6.31M
NOI $378,893 @ 7.0% cap · market cap 17.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,288
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - C-2-zoned property combines residential units, street-level commercial space, tenant parking, and a 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: 12 apartments within a 17,940‑square‑foot mixed‑use building; 2 ground‑level commercial spaces for retail or office use; 0.6‑acre property at 702 S Wall Avenue, Joplin, MO 64801
