Conventional Restaurant with
For Sale
$1,400,000
Pending
2412 S Main Street, Joplin, MO 64804
COMMERCIAL - Joplin, MO
Property Size5,783 SF
Lot Size0.73 Acres
Days on Market149
Property Features for 2412 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Lot features
Level
View
City
Directions
From I44 and S Main St, go North to property on West side of Main st
Standard status
Pending
APN
19-5.0-15-10-35-13.0
Lot size
0.73 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
O'Keefes Add Lots 171 To 174 Inc
Tax Annual Amount
10796
Legal Description
O'Keefes Add Lots 171 To 174 Inc
Utilities
Utilities
Water Available
Heating system
Natural Gas, Forced Air
Cooling system
Electric
Building Details
Year built
2014
Roof type
Rubber, Flat
Listing Agency:
PRO 100 Inc., REALTORS
(417) 782-0800
Listed By:
James I. Hunter, IV · License #201110009040
(417) 850-5355
Added: Mar 31
Changed: Aug 18
Last Checked: Aug 26 at 12:06PM
MLS# 60319509
Copyright © 2026 Southern Missouri Regional MLS, LLC (SOMO). 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 2014, this conventional restaurant property contains 5,783 square feet arranged for ongoing food-service operations. The sale includes the equipment and fixtures currently serving the business, while the existing tenant remains in operation subject to tenant rights.
The property encompasses two parcels totaling 0.7324 acres, with paved parking across the site. Located at 2412 S Main Street in Joplin, the building has a flat rubber roof, natural gas and forced-air heating, electric cooling, and water availability.
The property encompasses two parcels totaling 0.7324 acres, with paved parking across the site. Located at 2412 S Main Street in Joplin, the building has a flat rubber roof, natural gas and forced-air heating, electric cooling, and water availability.
Key Highlights
- 5,783‑square‑foot restaurant building constructed in 2014
- Two parcels totaling 0.7324 acres
- Paved parking across the property
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
$58,459
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
4.18%
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%
$1,169,180
$1.2M
Cap Rate 7%
$835,129
$835.1K
Cap Rate 9%
$649,544
$649.5K
Market Conditions
NOI Build-Up for 5,783 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
$81.2K $14.04/SF
− Vacancy
−$3.2K −$0.56/SF
EGI
$77.9K $13.48/SF
− OpEx
−$19.5K −$3.37/SF
NOI
$58.5K $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%
$1,169,180
Cap Rate 7%
$835,129
Cap Rate 9%
$649,544
Alternative Uses
Best Use
Specialty Retail
$835.1K
$730.7K – $974.3K
NOI $58,459 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.53M – $2.04M
NOI $122,137 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
82k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 88%
Shops & Services 8%
Beauty & Spa 4%
Braum's Ice Cream & Dairy Stores
Dining
22,580 visits/mo
0.1 miles
McDonald's
Dining
20,396 visits/mo
0.2 miles
Taco Bell
Dining
15,890 visits/mo
0.1 miles
Conoco
Shops & Services
4,107 visits/mo
0.4 miles
Papa John's Pizza
Dining
3,165 visits/mo
0.5 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 - Current food-service occupancy includes installed fixtures and operating equipment.
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: 5,783‑square‑foot restaurant building constructed in 2014; Two parcels totaling 0.7324 acres; Paved parking across the property
