Fully Leased Flex
New
For Sale
$1,750,000
1703 Falcon, Joplin, MO 64801
Commercial Sale, Joplin, MO
Property Size38,500 SF
Price / SF$45.45
Days on Market1
Property Features for 1703 Falcon
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Zora and St Louis, north on St Louis to Falcon. Property on SW corner.
Subdivision
02 - Joplin City - NE
Standard status
Active
APN
16602300000126500
Size
38,500 SF
Taxes and HOA fees
Tax Annual Amount
5476
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Building Details
Year built
2000
Number of units
5
Flooring type
Carpet, Concrete
Roof type
Metal
Listing Agency:
PRO 100 Inc., REALTORS
(417) 782-0800
Listed By:
The Kassab Team, Dee Kassab · License #1999019022
(417) 434-3330
Added: Aug 21
Last Checked: Aug 21 at 3:06PM
MLS# 264639
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 38,500-square-foot flex space was built in 2000 and is fully leased. The building has a metal roof, carpet and concrete flooring, central air conditioning, and natural gas heating. A recently resurfaced parking lot serves the property, while the land is held under a long-term lease from the City of Joplin Airport.
The property is located at 1703 Falcon in Joplin, Missouri, near the airport. Its existing building systems and leased status provide a defined operating profile for a purchaser evaluating an occupied flex-space asset.
The property is located at 1703 Falcon in Joplin, Missouri, near the airport. Its existing building systems and leased status provide a defined operating profile for a purchaser evaluating an occupied flex-space asset.
Key Highlights
- 38,500‑square‑foot flex space built in 2000
- Fully leased building
- Long‑term land lease from the City of Joplin Airport
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
$156,041
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
8.92%
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%
$3,120,820
$3.1M
Cap Rate 7%
$2,229,157
$2.2M
Cap Rate 9%
$1,733,789
$1.7M
Market Conditions
NOI Build-Up for 38,500 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
$231.0K $6.00/SF
− Vacancy
−$8.1K −$0.21/SF
EGI
$222.9K $5.79/SF
− OpEx
−$66.9K −$1.74/SF
NOI
$156.0K $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%
$3,120,820
Cap Rate 7%
$2,229,157
Cap Rate 9%
$1,733,789
Alternative Uses
Best Use
Industrial
$2.23M
$1.95M – $2.60M
NOI $156,041 @ 7.0% cap · market cap 8.92%
Second Best
Flex RnD
$2.02M
$1.76M – $2.35M
NOI $141,141 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$11.62M
$10.16M – $13.55M
NOI $813,120 @ 7.0% cap · market cap 46.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Metal-roof building with central air, natural gas heat, and a resurfaced parking lot.
Where is this flex space located?
The property is located at 1703 Falcon Joplin, MO.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 38,500‑square‑foot flex space built in 2000; Fully leased building; Long‑term land lease from the City of Joplin Airport
