Downtown Mixed-Use Loft
107 S 6th Street St Joseph, MO 64501
For Sale
$2,499,000
Historic building with event space and market-rate lofts.
Property Size23,320 SF
Lot Size0.17 Acres
Price / SF$107.16
Days on Market1506
Property Features for 107 S 6th Street
General Information
Standard status
Active
Size
23,320 SF
Lot size
0.17 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1892
Listing Agency:
BHHS Stein & Summers Real Estate
(816) 387-6899
Listed By:
Laura WYETH · License #2001033801
(816) 387-6899
Source:
Exitrealty
Added: Jun 14, 2022
Changed: Jul 10
Last Checked: Jul 28 at 4:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Stein & Summers Real Estate
Investment Insights
Based on property information with market context.
This historic building, located in the heart of downtown, has been completely restored into a mixed-use property. It features a main floor event space known as The Metropolitan, along with 12 market-rate lofts distributed across the 2nd, 3rd, and 4th floors, with 4 units per floor. The residential units include 3 one-bedroom, one-bath units; 6 two-bedroom, 1.5-bath units with a bonus room or office; and 3 two-bedroom, 1.5-bath units with 6th Street views. Each loft is equipped with stainless steel appliances, including a stove, refrigerator, dishwasher, and microwave, as well as engineered wood floors and high ceilings. Coin-operated washer and dryer units are available on each floor. The property includes a private lot adjacent to the building at 107 S. 6th, providing one reserved parking space per loft. A free City parking lot is located across the street, and on-street parking is also available. The building features a private key pass passenger elevator for tenants, as well as a freight elevator in the back, offering convenient alley access for moving. A full, dry basement is available for storage, and each loft has access to an 8x10 storage cage. Residents can enjoy outdoor space on the large sun deck off the 3rd floor. The property is surrounded by restaurants, retail shops, coffee shops, bars, and professional office space. It is located two blocks from the Missouri Theater and one block from Coleman Hawkins Park, near government buildings. There is also an on-site office for the building owner. The property size is 23,320 square feet. The intended use of the property is for investment or as a 1031 Exchange Replacement property.
Key Highlights
- Fully restored historic building in the heart of Downtown revitalization, offering a unique mixed‑use property.
- Strong income potential with rents between $995-$1,750 per month, plus tenant‑paid electric.
- Includes a private lot providing one reserved parking space per loft, supplemented by a free City parking lot and on‑street parking.
Financial Insights For Mixed Use
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 | $279.8k | $12.00 |
| − Vacancy | −$28.0k | −$1.20 |
| EGI | $251.9k | $10.80 |
| − OpEx | −$94.4k | −$4.05 |
| NOI | $157.4k | $6.75 |
23,320 SF · lease $12.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$2.25M
$1.97M – $2.62M
NOI $157,410 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$2.02M
$1.77M – $2.36M
NOI $141,382 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$7.04M
$6.16M – $8.21M
NOI $492,518 @ 7.0% cap · market cap 19.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic building with event space and market-rate lofts.
Where is this mixed-use property located?
The property is located at 107 S 6th Street St Joseph, MO.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Fully restored historic building in the heart of Downtown revitalization, offering a unique mixed‑use property.; Strong income potential with rents between $995-$1,750 per month, plus tenant‑paid electric.; Includes a private lot providing one reserved parking space per loft, supplemented by a free City parking lot and on‑street parking.
