Retail
For Sale
Contact for pricing
1502 W SEVENTH ST, Joplin, MO 64801
Retail property with four years of remaining lease term.
Property Size8,320 SF
Price / SF$199.87
Days on Market48
Property Features for 1502 W SEVENTH ST
General Information
Standard status
Active
Size
8,320 SF
Property subtype
Retail, Multifamily
Net Operating Income
$137,188
Financials
Asking Price
$1,662,884
Cap Rate
8.25%
Building Details
Year Built
2016
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Northmarq - Chicago
(312) 777-2437
Listed By:
Isaiah Harf · License #IL 471019332
Source:
Crexi
Added: Jul 15
Changed: Aug 30
Last Checked: Aug 30 at 6:07PM
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 Northmarq - Chicago
Investment Insights
Based on property information with market context.
This 8,320-square-foot retail property was built in 2016 and is located at 1502 W Seventh St in Joplin, Missouri. The asset has four years of lease term remaining and is offered for sale as an occupied retail property.
The property is positioned within Joplin’s established retail hub serving the four-state region of Missouri, Kansas, Oklahoma, and Arkansas. Its current 8.25% cap rate provides an additional investment metric for evaluation.
The property is positioned within Joplin’s established retail hub serving the four-state region of Missouri, Kansas, Oklahoma, and Arkansas. Its current 8.25% cap rate provides an additional investment metric for evaluation.
Key Highlights
- 8,320 SF retail property
- Built in 2016
- Four years of lease term remaining
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
$78,498
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
4.72%
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%
$1,569,960
$1.6M
Cap Rate 7%
$1,121,400
$1.1M
Cap Rate 9%
$872,200
$872.2K
Market Conditions
NOI Build-Up for 8,320 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
$116.8K $14.04/SF
− Vacancy
−$4.7K −$0.56/SF
EGI
$112.1K $13.48/SF
− OpEx
−$33.6K −$4.04/SF
NOI
$78.5K $9.43/SF
Area
Jasper County, MO
Vacancy
4.00%
Lease Rate
$14.04 /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%
$1,569,960
Cap Rate 7%
$1,121,400
Cap Rate 9%
$872,200
Alternative Uses
Best Use
Retail
$1.12M
$981.2K – $1.31M
NOI $78,498 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,718 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
114k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 29%
McDonald's
Dining
21,610 visits/mo
0.1 miles
SONIC Drive In
Dining
14,714 visits/mo
0.2 miles
Dollar Tree
Shops & Services
14,287 visits/mo
0.1 miles
Wendy's
Dining
12,916 visits/mo
0.1 miles
Starbucks
Dining
10,723 visits/mo
0.1 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property with four years of remaining lease term.
Where is this retail space located?
The property is located at 1502 W SEVENTH ST Joplin, MO.
What is the asking price?
The asking price for this property is $1,662,884.
What are key features of this property?
This property features: 8,320 SF retail property; Built in 2016; Four years of lease term remaining
