Commercial Property with Metal
For Sale
$235,000
729 W 32nd Street, Joplin, MO 64804
COMMERCIAL - Joplin, MO
Property Size864 SF
Lot Size0.51 Acres
Price / SF$271.99
Days on Market562
Property Features for 729 W 32nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Basement
Crawl Space
Directions
From Main Street and 32nd Street head west to Jackson. Property is on the right side (north) at the corner of Jackson and 32nd street
Subdivision
03 - Joplin City - SW
Standard status
Active
APN
1951540019004000
Size
864 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Annual Amount
980
Utilities
Utilities
Electricity Available
Heating system
Natural Gas, Central
Cooling system
Central Air
Building Details
Year built
1940
Flooring type
Hardwood, Laminate
Roof type
Composition
Listing Agency:
EXP Realty, LLC
(866) 224-1761
Listed By:
Shannon Van Gorp · License #2005004349
(417) 312-0822
Added: Feb 9, 2025
Changed: Aug 4
Last Checked: Aug 25 at 6:06PM
MLS# 250675
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 corner-lot commercial property includes a 2/1 home and a large metal shop with three stalls. The shop also has an overhead loft area inside, with space suitable for a workbench.
The property sits in a commercial zone and is located near Freeman Hospital and other medical facilities, providing convenient access to a dedicated customer base for businesses serving the area.
On-site features include an asphalt driveway, offering straightforward arrival and daily use for both residential and business operations.
The property sits in a commercial zone and is located near Freeman Hospital and other medical facilities, providing convenient access to a dedicated customer base for businesses serving the area.
On-site features include an asphalt driveway, offering straightforward arrival and daily use for both residential and business operations.
Key Highlights
- Commercial‑zoned property on a corner lot near Freeman Hospital and other medical facilities
- Includes a 2/1 home plus a large metal shop with three stalls
- Shop features an overhead loft with area for a workbench
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
$6,820
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
2.90%
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%
$136,400
$136.4K
Cap Rate 7%
$97,429
$97.4K
Cap Rate 9%
$75,778
$75.8K
Market Conditions
NOI Build-Up for 864 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
$13.5K $15.60/SF
− Vacancy
−$1.1K −$1.25/SF
EGI
$12.4K $14.35/SF
− OpEx
−$5.6K −$6.46/SF
NOI
$6.8K $7.89/SF
Area
Jasper County, MO
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$136,400
Cap Rate 7%
$97,429
Cap Rate 9%
$75,778
Alternative Uses
Best Use
Apartment 5plus
$97.4K
$85.3K – $113.7K
NOI $6,820 @ 7.0% cap · market cap 2.90%
Second Best
Warehouse
$60.7K
$53.2K – $70.9K
NOI $4,252 @ 7.0% cap · market cap 1.81%
Theoretical Best
Office A
$260.7K
$228.1K – $304.1K
NOI $18,248 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 64804, MO
38,078
Population
16,844
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
91%
High-School Grad
91.4 sq mi
ZIP Area
417
Density / Sq Mi
$62,081
Median Household Income
$34,780
Median Earnings
$886
Median Rent
$171,500
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.
Frequently Asked Questions
What type of property is this?
Single family property - Corner-lot commercial property with a 2/1 home and a metal shop featuring three stalls and an overhead loft workspace.
Where is this single family property located?
The property is located at 729 W 32nd Street Joplin, MO.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Commercial‑zoned property on a corner lot near Freeman Hospital and other medical facilities; Includes a 2/1 home plus a large metal shop with three stalls; Shop features an overhead loft with area for a workbench
