Turn-Key Restaurant on South
For Sale
$1,400,000
Pending
2412 S Main Street, Joplin, MO 64804
COMMERCIAL - Joplin, MO
Property Size5,378 SF
Lot Size0.73 Acres
Days on Market139
Property Features for 2412 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From I44 and S Main St, go North to property on West side of Main st
Subdivision
03 - Joplin City - SW
Standard status
Pending
APN
14-1.0-11-0-1-5.252
Size
5,378 SF
Lot size
0.73 Acres
Taxes and HOA fees
Tax Annual Amount
10796
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air, Wall Unit(s)
Building Details
Year built
2014
Flooring type
Ceramic
Roof type
Rubber
Listing Agency:
PRO 100 Inc., REALTORS
(417) 782-0800
Listed By:
Jim Alyssa Hunter Team · License #2010009040
(417) 850-5355
Added: Apr 1
Changed: Aug 4
Last Checked: Aug 17 at 4:06AM
MLS# 261691
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 turn-key restaurant is located on S Main St in Joplin. Constructed in 2014, the building offers 5378 square feet of space. While currently operating as a Mexican restaurant, the property is suitable for various menu types. The sale includes all equipment and fixtures needed for operation. The property includes two parcels totaling 0.7324 acres, providing ample paved parking. This sale is subject to tenant rights.
Key Highlights
- 2014‑built restaurant building with 5,783 SF on S Main St in Joplin
- Includes all equipment and fixtures needed to operate; currently set up as a Mexican restaurant
- More than adequate parking: two parcels totaling 0.7324 acres with paved parking
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
$54,365
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
3.88%
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%
$1,087,300
$1.1M
Cap Rate 7%
$776,643
$776.6K
Cap Rate 9%
$604,056
$604.1K
Market Conditions
NOI Build-Up for 5,378 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
$75.5K $14.04/SF
− Vacancy
−$3.0K −$0.56/SF
EGI
$72.5K $13.48/SF
− OpEx
−$18.1K −$3.37/SF
NOI
$54.4K $10.11/SF
Area
Jasper County, MO
Vacancy
4.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,087,300
Cap Rate 7%
$776,643
Cap Rate 9%
$604,056
Alternative Uses
Best Use
Specialty Retail
$776.6K
$679.6K – $906.1K
NOI $54,365 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,583 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,160
Businesses Nearby
22k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 91%
Home Improvements & Furnishings 9%
Joplin #7
Shops & Services
12,184 visits/mo
0.3 miles
Arvest Bank
Shops & Services
4,446 visits/mo
0.4 miles
Dollar General
Shops & Services
3,776 visits/mo
0.1 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
2,018 visits/mo
0.4 miles
Demographics for 64804, MO
38,078
Population
16,844
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
91%
High-School Grad
91.4 sq mi
ZIP Area
417
Density / Sq Mi
$62,081
Median Household Income
$34,780
Median Earnings
$886
Median Rent
$171,500
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Restaurant building with equipment and fixtures on 0.73 acres.
Where is this conventional restaurant located?
The property is located at 2412 S Main Street Joplin, MO.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 2014‑built restaurant building with 5,783 SF on S Main St in Joplin; Includes all equipment and fixtures needed to operate; currently set up as a Mexican restaurant; More than adequate parking: two parcels totaling 0.7324 acres with paved parking
