Historic Mixed-Use Property with
For Sale
$925,000
826 S Main Street, Joplin, MO 64801
Commercial Sale, Joplin, MO
Property Size6,750 SF
Lot Size0.06 Acres
Price / SF$137.04
Days on Market146
Property Features for 826 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Rooms
Basement
Directions
From 7th and Main, south on Main to building on West side of street.
Subdivision
03 - Joplin City - SW
Standard status
Active
Size
6,750 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
1419
Utilities
Heating system
Other (Heating)
Cooling system
Wall Unit(s)
Building Details
Year built
1891
Number of units
9
Flooring type
Hardwood
Roof type
Rolled Hot Mop, Rubber
Listing Agency:
GLENN GIBSON COMMERCIAL REAL ESTATE
(417) 825-8213
Listed By:
Luke Gibson · License #2015033987
(417) 359-6868
Added: Apr 7
Changed: Aug 20
Last Checked: Aug 30 at 5:06PM
MLS# 261862
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 contains 6,750 square feet within a historic building constructed in 1891. The upper floors include nine market-rate apartments with hardwood flooring, high ceilings, and efficient layouts. A ground-level commercial office area provides additional functional space within the building. The property also includes a basement, wall-unit cooling, other heating, and a roof system consisting of rolled hot mop and rubber materials.
Located on South Main Street in downtown Joplin, the property occupies a 0.06-acre site within the 64801 ZIP code. C-2 zoning supports its mixed-use profile, combining residential occupancy with commercial space in an established downtown setting.
Located on South Main Street in downtown Joplin, the property occupies a 0.06-acre site within the 64801 ZIP code. C-2 zoning supports its mixed-use profile, combining residential occupancy with commercial space in an established downtown setting.
Key Highlights
- Nine market‑rate apartments on the upper floors
- 6,750‑square‑foot mixed‑use building on a 0.06‑acre site
- Ground‑level commercial office space
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
$60,548
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
6.55%
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%
$1,210,960
$1.2M
Cap Rate 7%
$864,971
$865.0K
Cap Rate 9%
$672,756
$672.8K
Market Conditions
NOI Build-Up for 6,750 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
$105.3K $15.60/SF
− Vacancy
−$8.4K −$1.25/SF
EGI
$96.9K $14.35/SF
− OpEx
−$36.3K −$5.38/SF
NOI
$60.5K $8.97/SF
Area
Jasper County, MO
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,210,960
Cap Rate 7%
$864,971
Cap Rate 9%
$672,756
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $88,938 @ 7.0% cap · market cap 9.61%
Second Best
Mixed Use
$865.0K
$756.9K – $1.01M
NOI $60,548 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,560 @ 7.0% cap · market cap 15.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,480
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 Office 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 - Remodeled downtown building combines upper-level residential units with flexible ground-floor commercial space.
Where is this mixed-use property located?
The property is located at 826 S Main Street Joplin, MO.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Nine market‑rate apartments on the upper floors; 6,750‑square‑foot mixed‑use building on a 0.06‑acre site; Ground‑level commercial office space
