Historic Flex
For Sale
$770,000
215 S Wall Avenue, Joplin, MO 64801
Commercial Sale, Joplin, MO
Property Size5,700 SF
Lot Size0.14 Acres
Price / SF$135.09
Days on Market293
Property Features for 215 S Wall Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Directions
From 4th and Main, west to Wall Ave. North on Wall to building on east side of street.
Subdivision
01 - Joplin City - NW
Standard status
Active
APN
33-009391-0000
Size
5,700 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
169
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
Solar panels
Building Details
Year built
1911
Flooring type
Concrete, Ceramic
Roof type
Rolled Hot Mop
Listing Agency:
GLENN GIBSON COMMERCIAL REAL ESTATE
(417) 825-8213
Listed By:
Luke Gibson · License #2015033987
(417) 359-6868
Added: Nov 5, 2025
Changed: Aug 20
Last Checked: Aug 25 at 10:06PM
MLS# 256192
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.
The White Motor Company Building provides 5,700 square feet of adaptable commercial space in a structure built in 1911 and renovated in 2019. Preserved architectural details, exposed brick, polished concrete flooring, and abundant natural light give the interior a distinctive industrial character. All-new windows, forced-air heating, central air, and a rolled hot-mop roof support contemporary use, while rooftop solar panels add an energy-focused building feature.
The property includes two ADA-compliant restrooms and a flexible front entrance with garage-door access. That configuration supports convenient movement of people, equipment, or merchandise and adds versatility for the open interior. Located at 215 S Wall Avenue in Joplin, Missouri, the building is zoned C-2 and occupies a 0.14-acre site.
The property includes two ADA-compliant restrooms and a flexible front entrance with garage-door access. That configuration supports convenient movement of people, equipment, or merchandise and adds versatility for the open interior. Located at 215 S Wall Avenue in Joplin, Missouri, the building is zoned C-2 and occupies a 0.14-acre site.
Key Highlights
- 5,700 square feet of adaptable commercial space
- 1911 building renovated in 2019
- Preserved architectural details with exposed brick and polished concrete flooring
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
$53,779
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
6.98%
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%
$1,075,580
$1.1M
Cap Rate 7%
$768,271
$768.3K
Cap Rate 9%
$597,544
$597.5K
Market Conditions
NOI Build-Up for 5,700 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
$80.0K $14.04/SF
− Vacancy
−$3.2K −$0.56/SF
EGI
$76.8K $13.48/SF
− OpEx
−$23.0K −$4.04/SF
NOI
$53.8K $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%
$1,075,580
Cap Rate 7%
$768,271
Cap Rate 9%
$597,544
Alternative Uses
Best Use
Office B
$1.07M
$938.8K – $1.25M
NOI $75,103 @ 7.0% cap · market cap 9.75%
Second Best
Retail
$768.3K
$672.2K – $896.3K
NOI $53,779 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$1.72M
$1.50M – $2.01M
NOI $120,384 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
Under-served
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 Office 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 - C-2-zoned commercial space combines restored architectural details with updated building systems and adaptable interior functionality.
Where is this flex space located?
The property is located at 215 S Wall Avenue Joplin, MO.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: 5,700 square feet of adaptable commercial space; 1911 building renovated in 2019; Preserved architectural details with exposed brick and polished concrete flooring
