Corner-Lot Live-Work
For Sale
$235,000
729 32nd Street, Joplin, MO 64804
Commercially zoned property combines a 2/1 home with a three-stall metal shop near medical facilities.
Property Size864 SF
Price / SF$271.99
Days on Market615
Property Features for 729 32nd Street
General Information
Standard status
Active
Size
864 SF
Property subtype
General Commercial
Zoning
commercial
Taxes and HOA fees
Annual Taxes
$980
Amenities
3
Laminate
Composition
110 X 220
Building Details
Year Built
1940
Buildings
2
Construction
metal
Listing Agency:
EXP Realty, LLC
(417) 312-0822
Listed By:
Shannon Van Gorp · License #2005004349
(417) 312-0822
Source:
Xome
Added: Dec 25, 2024
Changed: Aug 31
Last Checked: Aug 31 at 1:20PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This live-work property includes a 2/1 home and a separate large metal shop on a corner lot. The residence may function as a home or office, while the shop offers three stalls, an overhead loft, and space for a workbench. An asphalt driveway provides access between the improvements.
Commercial zoning accommodates the property’s residential and business-oriented configuration. The site is near Freeman Hospital and other medical facilities in Joplin, Missouri. The shop can serve as warehouse, garage, or work space, while the house provides a separate area for living or office use. Built in 1940, the property has laminate flooring in the interior.
Commercial zoning accommodates the property’s residential and business-oriented configuration. The site is near Freeman Hospital and other medical facilities in Joplin, Missouri. The shop can serve as warehouse, garage, or work space, while the house provides a separate area for living or office use. Built in 1940, the property has laminate flooring in the interior.
Key Highlights
- 2/1 home with residence or office use
- Large metal shop with three stalls
- Overhead loft with workbench area
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
$11,384
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
4.84%
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%
$227,680
$227.7K
Cap Rate 7%
$162,629
$162.6K
Cap Rate 9%
$126,489
$126.5K
Market Conditions
NOI Build-Up for 864 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
$19.0K $21.96/SF
− Vacancy
−$3.8K −$4.39/SF
EGI
$15.2K $17.57/SF
− OpEx
−$3.8K −$4.39/SF
NOI
$11.4K $13.18/SF
Area
Jasper County, MO
Vacancy
20.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$227,680
Cap Rate 7%
$162,629
Cap Rate 9%
$126,489
Alternative Uses
Best Use
Office B
$162.6K
$142.3K – $189.7K
NOI $11,384 @ 7.0% cap · market cap 4.84%
Second Best
Mixed Use
$110.7K
$96.9K – $129.2K
NOI $7,750 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$260.7K
$228.1K – $304.1K
NOI $18,248 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Commercially zoned property combines a 2/1 home with a three-stall metal shop near medical facilities.
Where is this live-work space located?
The property is located at 729 32nd Street Joplin, MO.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 2/1 home with residence or office use; Large metal shop with three stalls; Overhead loft with workbench area
