Fully Renovated Flex Space with Loading
For Sale
$1,700,000
231 N Main Street, Joplin, MO 64801
COMMERCIAL - Joplin, MO
Property Size13,800 SF
Lot Size0.72 Acres
Price / SF$123.19
Days on Market309
Property Features for 231 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M-2
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 5, Bathroom 2
Fencing
Chain Link
Directions
From 1st and Main St, Joplin, north 2 blocks, east side.
Subdivision
01 - Joplin City - NW
Standard status
Active
APN
19200310032014000
Size
13,800 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Description
WILSON & HUTTON 1ST LOTS 14 TO 16 INC & VAC ALLEY LYING E & ADJ SD LOTS
Tax Annual Amount
5070
Legal Description
WILSON & HUTTON 1ST LOTS 14 TO 16 INC & VAC ALLEY LYING E & ADJ SD LOTS
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Amenities
smart lock system with key card access
back deck designed for employee breaks
Building Details
Year built
1950
Flooring type
Concrete, Vinyl
Listing Agency:
KELLER WILLIAMS REALTY ELEVATE
(417) 623-9900
Listed By:
Amy Hunt Team · License #2017015942
(417) 499-8699
Added: Oct 16, 2025
Changed: Aug 4
Last Checked: Aug 20 at 5:06PM
MLS# 255797
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 fully renovated flex space blends modern technology, comfort, and versatility. The building features 3 separate suites currently operated as one, with the ability to divide or function as a single cohesive operation. Interior office amenities include 7 private offices, a welcoming lobby, a built-in reception desk, a large conference room, and a break room, along with 5 bathrooms and 2 small storage rooms. The large open hallway supports multiple layout options.
The warehouse and event space are both air-conditioned and heated, creating a comfortable year-round environment. The property is secured with a gated and fenced yard, smart lock system with key card access, and 20+ security cameras with months of recording capability. Additional features include LED lighting conversion, app-controlled garage doors, all-new Argon-filled exterior windows, a back deck designed for employee breaks, and durable 10-12 inch thick exterior walls.
Zoned M-2, the property sits on a 0.72-acre lot and includes 1 exterior loading dock and 6 covered interior loading docks. Garage doors include three 14x18 doors, one 10x10, one 10x10 glass, two 8x16 glass, one 10x10 interior, and six 7x8 interior doors. Renovated about three years ago, it was built in 1950.
The warehouse and event space are both air-conditioned and heated, creating a comfortable year-round environment. The property is secured with a gated and fenced yard, smart lock system with key card access, and 20+ security cameras with months of recording capability. Additional features include LED lighting conversion, app-controlled garage doors, all-new Argon-filled exterior windows, a back deck designed for employee breaks, and durable 10-12 inch thick exterior walls.
Zoned M-2, the property sits on a 0.72-acre lot and includes 1 exterior loading dock and 6 covered interior loading docks. Garage doors include three 14x18 doors, one 10x10, one 10x10 glass, two 8x16 glass, one 10x10 interior, and six 7x8 interior doors. Renovated about three years ago, it was built in 1950.
Key Highlights
- 3 suites currently operated as one, with ability to divide or remain a single cohesive operation
- Warehouse and event space both air‑conditioned and heated, providing year‑round comfort
- Zoned M‑2; 0.72‑acre lot with 13,800 SF building
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
$67,917
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
4.00%
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%
$1,358,340
$1.4M
Cap Rate 7%
$970,243
$970.2K
Cap Rate 9%
$754,633
$754.6K
Market Conditions
NOI Build-Up for 13,800 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
$82.8K $6.00/SF
− Vacancy
−$2.9K −$0.21/SF
EGI
$79.9K $5.79/SF
− OpEx
−$12.0K −$0.87/SF
NOI
$67.9K $4.92/SF
Area
Jasper County, MO
Vacancy
3.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,358,340
Cap Rate 7%
$970,243
Cap Rate 9%
$754,633
Alternative Uses
Best Use
Warehouse
$970.2K
$849.0K – $1.13M
NOI $67,917 @ 7.0% cap · market cap 4.00%
Second Best
Industrial
$799.0K
$699.1K – $932.2K
NOI $55,931 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$4.16M
$3.64M – $4.86M
NOI $291,456 @ 7.0% cap · market cap 17.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
990
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 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 - Fully renovated flex space with air-conditioned warehouse/event space, gated yard, smart access, and multiple loading docks.
Where is this flex space located?
The property is located at 231 N Main Street Joplin, MO.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 3 suites currently operated as one, with ability to divide or remain a single cohesive operation; Warehouse and event space both air‑conditioned and heated, providing year‑round comfort; Zoned M‑2; 0.72‑acre lot with 13,800 SF building
