Insulated Warehouse with
For Sale
$395,000
1704 Center Street, St Joseph, MO 64503
Commercial Sale, St Joseph, MO
Property Size4,200 SF
Lot Size0.17 Acres
Price / SF$94.05
Days on Market9
Property Features for 1704 Center Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M-2
Directions
From Frederick Avenue, travel toward N Noyes Boulevard. Turn south onto N Noyes Boulevard and continue as it becomes S 28th Street. Make a sharp right onto Commercial Street, then turn right onto S 17th Street. Turn right onto Center Street and continue to 1704 Center Street, St. Joseph, MO 64503.
Subdivision
1131 - Buchanan Co SW-N=I-36;S=Co Line;E=I-29;W=M
Standard status
Active
APN
06-5.0-21-003-001-212.000
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
SUB:SOUTH PARK LOT:28 BLK:8 LGL DESC:
Tax Annual Amount
1129
Legal Description
SUB:SOUTH PARK LOT:28 BLK:8 LGL DESC:
Utilities
Utilities
Natural Gas Available
Building Details
Year built
2000
Floors in Building
1
Listing Agency:
ReeceNichols-KCN · HomeLife
(816) 468-8555
Listed By:
Eric Craig Team
(816) 726-8565
Added: Sep 14
Last Checked: Sep 22 at 8:06AM
MLS# 2641541
Copyright © 2026 Heartland Multiple Listing Service. 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.
Built in 2000, this warehouse property at 1704 Center Street provides a 60' x 70' open-plan facility with spray-foam insulation and a loft above the office area. Two separate HVAC systems serve the warehouse and offices. The property also includes a security system and forklift, along with one operational garage door. A larger hangar door remains sealed and spray-foamed, with modification required for future access.
The property is located in St. Joseph, Missouri, in Buchanan County, and carries M-2 zoning. Natural gas is available. Its prior use as a promotional advertising and printing facility provides additional context for the existing combination of warehouse, office, storage, and production-oriented features.
The property is located in St. Joseph, Missouri, in Buchanan County, and carries M-2 zoning. Natural gas is available. Its prior use as a promotional advertising and printing facility provides additional context for the existing combination of warehouse, office, storage, and production-oriented features.
Key Highlights
- 60' x 70' warehouse facility built in 2000
- M‑2 zoning with natural gas available
- Spray‑foam insulation throughout the facility
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
$17,291
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
4.38%
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%
$345,820
$345.8K
Cap Rate 7%
$247,014
$247.0K
Cap Rate 9%
$192,122
$192.1K
Market Conditions
NOI Build-Up for 4,200 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
$29.2K $6.96/SF
− Vacancy
−$2.6K −$0.63/SF
EGI
$26.6K $6.33/SF
− OpEx
−$9.3K −$2.22/SF
NOI
$17.3K $4.12/SF
Area
Buchanan County, MO
Vacancy
9.00%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
35.00%
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%
$345,820
Cap Rate 7%
$247,014
Cap Rate 9%
$192,122
Alternative Uses
Best Use
Flex RnD
$247.0K
$216.1K – $288.2K
NOI $17,291 @ 7.0% cap · market cap 4.38%
Second Best
Warehouse
$244.4K
$213.9K – $285.2K
NOI $17,111 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,704 @ 7.0% cap · market cap 22.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 64503, MO
12,127
Population
5,774
Households
2.1
Avg Household Size
39
Median Age
16%
College-Educated
89%
High-School Grad
14.5 sq mi
ZIP Area
836
Density / Sq Mi
$53,351
Median Household Income
$35,439
Median Earnings
$926
Median Rent
$133,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Warehouse - M-2-zoned commercial facility with separate HVAC service for warehouse and office areas, plus a security system and forklift.
Where is this warehouse located?
The property is located at 1704 Center Street St Joseph, MO.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 60' x 70' warehouse facility built in 2000; M‑2 zoning with natural gas available; Spray‑foam insulation throughout the facility
