Freestanding Flex
For Sale
$225,000
Pending
1220 E 15th Street, Joplin, MO 64804
Commercial Sale, Joplin, MO
Property Size2,960 SF
Lot Size0.32 Acres
Days on Market49
Property Features for 1220 E 15th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
from main st (43 HWY) and 15th st. go east on 15th st. 11 blocks or from Rangeline rd and 15th st. go west on 15th 11 blocks to property.
Subdivision
25 - Jasper County
Standard status
Pending
Size
2,960 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Annual Amount
2041
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Flooring type
Laminate, Concrete
Roof type
Shingle
Listing Agency:
Venture Group Real Estate
Listed By:
Venture Group Real Estate
(417) 621-1883
Added: Jul 27
Changed: Sep 12
Last Checked: Sep 13 at 7:06PM
MLS# 264130
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 freestanding flex property at 1220 E 15th Street in Joplin presents a cleared interior within a 2,960-square-foot commercial building. The layout was originally configured around a commercial kitchen, several dining areas, and a bar-style service zone, while a rear loading area adds functional support for deliveries and operations. Laminate and concrete flooring, central heating, central air, and a shingle roof are in place.
The property occupies approximately 0.32 acres with access from Michigan Avenue at the rear. Its Joplin location provides connectivity to Rangeline Road and Main Street. Built in 1950, the building is connected to municipal water and sewer, with natural gas availability also noted. The open condition allows a future owner to rework the interior around an appropriate commercial operating plan.
The property occupies approximately 0.32 acres with access from Michigan Avenue at the rear. Its Joplin location provides connectivity to Rangeline Road and Main Street. Built in 1950, the building is connected to municipal water and sewer, with natural gas availability also noted. The open condition allows a future owner to rework the interior around an appropriate commercial operating plan.
Key Highlights
- 2,960‑square‑foot freestanding commercial building on approximately 0.32 acres
- Cleared interior with a former commercial kitchen‑oriented layout
- Dining areas and bar‑style serving space remain part of the original configuration
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
$11,997
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
5.33%
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%
$239,940
$239.9K
Cap Rate 7%
$171,386
$171.4K
Cap Rate 9%
$133,300
$133.3K
Market Conditions
NOI Build-Up for 2,960 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
$17.8K $6.00/SF
− Vacancy
−$622 −$0.21/SF
EGI
$17.1K $5.79/SF
− OpEx
−$5.1K −$1.74/SF
NOI
$12.0K $4.05/SF
Area
Jasper County, MO
Vacancy
3.50%
Lease Rate
$6.00 /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%
$239,940
Cap Rate 7%
$171,386
Cap Rate 9%
$133,300
Alternative Uses
Best Use
Specialty Retail
$427.5K
$374.0K – $498.7K
NOI $29,922 @ 7.0% cap · market cap 13.30%
Second Best
Industrial
$171.4K
$150.0K – $200.0K
NOI $11,997 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$893.1K
$781.4K – $1.04M
NOI $62,515 @ 7.0% cap · market cap 27.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Cleared commercial interior with kitchen-oriented infrastructure, rear loading access, and municipal utilities.
Where is this flex space located?
The property is located at 1220 E 15th Street Joplin, MO.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 2,960‑square‑foot freestanding commercial building on approximately 0.32 acres; Cleared interior with a former commercial kitchen‑oriented layout; Dining areas and bar‑style serving space remain part of the original configuration
