Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    615 Albemarle St St Joseph, MO 64501

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $3 SF/Yr ($2,462 /Mo)

    Multi-tenant industrial space featuring drive-in doors and office.

    Property size:
    9,850 SF
    Lot size:
    2.69 Acres

    Property Features for 615 Albemarle St

    General Information

    Standard status
    Active
    Size
    9,850 SF
    Lot size
    2.69 Acres

    Building Details

    Year built
    1910

    We can help!

    Listing Contact
    Adam Stein
    Adam Stein
    Source: Exitrealty

    Listing Agency: BHHS Stein & Summers Listing Agent: Adam Stein

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Industrial Space with Drive-In Doors

    This property offers 9,850 square feet of flex space, suitable for industrial and warehouse use, and includes office units. It is located within a multi-tenant building. The property features three drive-in doors, each measuring 13.5 feet by 19.9 feet. The interior clear height is 15.77 feet, providing optimal clearance. Energy-efficient LED lighting is installed throughout the space. A small office is included for administrative tasks. The lease is full-service, covering taxes, insurance, CAM, and utilities; however, utility coverage is subject to change based on usage.
    Location Intelligence

    Current Use by Public Records

    BMS Logistics Inc Warehouse & Storage St Joseph Plastics Warehouse & Storage

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Foxly Bros. Catering, Zubs Katering

    Location Insight

    • Map
    • Local Demand
    City
    St Joseph
    County
    Buchanan
    State
    Missouri
    Longitude
    -94.8519585
    Latitude
    39.7776748

    Nearby Similar for Lease

    • $1.00 SF/Yr
      69,696 SF

      Historic Sommer-Richardson Factory Building

      Multi-story industrial complex with flexible configuration options for lease.
      202 Main St, St Joseph, MO 64501
      View Details
    • $1,500 /Mo
      15,246 SF

      Downtown St. Joseph Commercial Building

      16,500 sq ft building perfect for office, event, or loft.
      305 S 8Th St, St Joseph, MO 64501
      View Details
    • $12 SF/Yr
      19,868 SF

      Retail Space on North Belt

      4,140 SF retail space for lease in St. Joseph.
      2327 N Belt Hwy, St Joseph, MO 64506
      View Details
    • $130 SF/Yr
      7,405 SF

      Downtown St. Joseph Office Space

      Affordable private offices with shared conference rooms in downtown St. Joseph.
      224 N 7Th St, St Joseph, MO 64501
      View Details
    • $2,860 /Mo
      12,197 SF

      Retail and Warehouse Space Available

      Corner retail and warehouse space for lease in St. Joseph.
      716 S 8Th St, St Joseph, MO 64501
      View Details
    • $22 SF/Yr
      52,272 SF

      Retail Building To Be Built

      Retail building to be built in 2025, St Joseph, MO
      4604 Rochester Rd, St Joseph, MO 64506
      View Details
    • $1,500 /Mo
      8,120 SF

      St Joseph Lower-Level Office Space

      Lower-level office space with high visibility in St Joseph.
      2401 Frederick Ave, St Joseph, MO 64506
      View Details
    • $3 SF/Yr
      117,176 SF

      St Joseph Commercial Space Available

      Flexible commercial spaces available in St Joseph, Missouri.
      615 Albemarle St, St Joseph, MO 64501
      View Details
    • New
      $10 SF/Yr
      284,011 SF

      King Hill Plaza Retail Opportunity

      Retail, office, medical, and service spaces available for lease.
      7014 King Hill Ave, St Joseph, MO 64504
      View Details
    • $9 SF/Yr
      3,001 SF

      Downtown St. Joseph Commercial Space

      3000 sq ft commercial space in downtown St. Joseph.
      212 N 7Th St, St Joseph, MO 64501
      View Details
    • $1,000 /Mo
      10,019 SF

      Commercial Space on South Belt

      Retail or office space with high visibility on South Belt.
      701C S Belt Hwy, St Joseph, MO 64507
      View Details
    • $16 SF/Yr
      41,399 SF

      Retail Space on North Belt

      Sublease opportunity in high-traffic St. Joseph location.
      2715 N Belt Hwy, St Joseph, MO 64506
      View Details

    FAQs

    What type of property is this?
    Flex space - Multi-tenant industrial space featuring drive-in doors and office.
    Where is this flex space located?
    The property is located at 615 Albemarle St St Joseph, MO.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    What are key features of this property?
    This property features: - Full-service lease covering taxes, insurance, CAM, and utilities.; - Three drive-in doors (13.5' x 19.9').; - Benefit from 15.77' clear height for optimal clearance.
    (816) 232-2000
    Request Owner's contact information
    615 Albemarle St St Joseph, MO 64501
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    615 Albemarle St
    St Joseph, MO 64501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    615 Albemarle St St Joseph, MO 64501
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Adam Stein
    Adam Stein
    Real Estate License ID: BR00233131
    (816) 232-2000 (816) 248-6821 (314) 495-5006
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!