Industrial-Style Loft Apartment
For Sale
$3,200,000
124 + 110 S Joplin Avenue, Joplin, MO 64801
COMMERCIAL - Joplin, MO
Property Size36,000 SF
Lot Size0.55 Acres
Price / SF$88.89
Days on Market57
Property Features for 124 + 110 S Joplin Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
20
Full bathrooms
20
Rooms
Bathroom 9, Bathroom 19, Bathroom 15, Bathroom 16, Bathroom 3, Bathroom 12, Bathroom 14, Bathroom 6, Bathroom 11, Bathroom 5, Bathroom 13, Bathroom 20, Bathroom 17, Bathroom 10, Bathroom 8, Bathroom 2, Bathroom 7, Bathroom 1, Bathroom 18, Bathroom 4
Directions
From 7th & Main street, go North to 2nd Street, west on 2nd to Joplin Avenue, south on Joplin Ave, Building on Right Side. Lennons & Brick & Mortor loft.
Subdivision
01 - Joplin City - NW
Standard status
Active
Size
36,000 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Annual Amount
10272
Utilities
Heating system
Natural Gas, Central
Cooling system
Ceiling Fan(s), Central Air
Amenities
open air courtyard/delivery room
secured entry points
security cameras
Building Details
Year built
1906
Number of units
17
Flooring type
Hardwood, Concrete
Listing Agency:
CHARLES BURT REALTORS
(417) 782-1234
Listed By:
Summer George · License #2010011832
(417) 388-4132
Added: Jun 11
Changed: Aug 4
Last Checked: Aug 6 at 8:06PM
MLS# 263220
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.
Converted from a 1906 warehouse, this industrial-style loft apartment building features 14 high-end loft units along with retail space on the main level. The property includes 6,000 SF of finished retail space and 6,000 SF of unfinished space connected to an open-air courtyard/delivery area with roll-up doors. Additional retail on the adjacent parcel includes 12,000 SF currently leased.
At 124 S Joplin Avenue, the lofts are fully leased along with the main level retail space. The finished retail includes an overhead garage door with glass, fireplace, two bathrooms, dressing rooms, and a separate office with a private bathroom. The lofts provide secured entry points, supported by a total of 16 indoor secured parking spaces connected to the building, with exterior and garage interior security cameras.
The building is served by central natural gas heating and central air cooling with ceiling fans. The entire structure has a sprinkler system and was completed to code and approved by the city.
Flooring includes concrete and hardwood throughout.
At 124 S Joplin Avenue, the lofts are fully leased along with the main level retail space. The finished retail includes an overhead garage door with glass, fireplace, two bathrooms, dressing rooms, and a separate office with a private bathroom. The lofts provide secured entry points, supported by a total of 16 indoor secured parking spaces connected to the building, with exterior and garage interior security cameras.
The building is served by central natural gas heating and central air cooling with ceiling fans. The entire structure has a sprinkler system and was completed to code and approved by the city.
Flooring includes concrete and hardwood throughout.
Key Highlights
- Converted 1906 warehouse into 14 industrial‑style loft apartments
- Includes 6,000 SF finished retail space and 6,000 SF unfinished space
- Main level finished retail has overhead garage door with glass and a separate office with private bathroom
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
$284,170
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
8.88%
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%
$5,683,400
$5.7M
Cap Rate 7%
$4,059,571
$4.1M
Cap Rate 9%
$3,157,444
$3.2M
Market Conditions
NOI Build-Up for 36,000 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
$561.6K $15.60/SF
− Vacancy
−$44.9K −$1.25/SF
EGI
$516.7K $14.35/SF
− OpEx
−$232.5K −$6.46/SF
NOI
$284.2K $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%
$5,683,400
Cap Rate 7%
$4,059,571
Cap Rate 9%
$3,157,444
Alternative Uses
Best Use
Retail
$4.85M
$4.25M – $5.66M
NOI $339,656 @ 7.0% cap · market cap 10.61%
Second Best
Apartment 5plus
$4.06M
$3.55M – $4.74M
NOI $284,170 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$10.86M
$9.50M – $12.67M
NOI $760,320 @ 7.0% cap · market cap 23.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,160
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Converted 1906 warehouse with 14 loft apartments, finished retail space, and 16 indoor secured parking spaces.
Where is this apartment building located?
The property is located at 124 + 110 S Joplin Avenue Joplin, MO.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Converted 1906 warehouse into 14 industrial‑style loft apartments; Includes 6,000 SF finished retail space and 6,000 SF unfinished space; Main level finished retail has overhead garage door with glass and a separate office with private bathroom
