Medical Office Space with Flexible
For Sale
$799,000
2531 E 2531.0 32nd Street, Joplin, MO 64804
Two-level commercial facility with reception, multiple exam or office rooms, and an employee kitchen.
Property Size7,000 SF
Price / SF$114.14
Days on Market181
Property Features for 2531 E 2531.0 32nd Street
General Information
Standard status
Active
Size
7,000 SF
Property subtype
General Commercial
Amenities
3
Vinyl, Laminate, Carpet
Composition
24 Parking Spaces.
141x200
Building Details
Year Built
1980
Buildings
1
Listing Agency:
Realty One Group Ovation
(417) 396-1397
Listed By:
Macfee Team, Lindsey Macfee · License #2005002710
(417) 396-1397
Source:
Xome
Added: Mar 3
Changed: Aug 29
Last Checked: Aug 30 at 3:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty One Group Ovation
Investment Insights
Based on property information with market context.
This approximately 7,000-square-foot medical office property in Joplin offers a two-level layout with reception space, multiple exam or office rooms, and a staff break area. The kitchen includes a gas range, dishwasher, microwave, and garbage disposal. The building was constructed in 1980 and has supported both doctor's office and behavioral health center uses.
The upper level adds living quarters plus a 24-by-47-foot room that can accommodate storage, offices, or additional workspace. Exterior features include 24 parking spaces and a 141-by-200-foot site. Flooring includes vinyl, laminate, and carpet, while the composition exterior provides the building's listed exterior finish.
The upper level adds living quarters plus a 24-by-47-foot room that can accommodate storage, offices, or additional workspace. Exterior features include 24 parking spaces and a 141-by-200-foot site. Flooring includes vinyl, laminate, and carpet, while the composition exterior provides the building's listed exterior finish.
Key Highlights
- Approximately 7,000 sq ft medical office building
- Main level includes reception and multiple exam or office rooms
- Staff kitchen with gas range, dishwasher, microwave, and garbage disposal
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
$69,930
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
8.75%
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%
$1,398,600
$1.4M
Cap Rate 7%
$999,000
$999.0K
Cap Rate 9%
$777,000
$777.0K
Market Conditions
NOI Build-Up for 7,000 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
$126.0K $18.00/SF
− Vacancy
−$9.5K −$1.35/SF
EGI
$116.6K $16.65/SF
− OpEx
−$46.6K −$6.66/SF
NOI
$69.9K $9.99/SF
Area
Jasper County, MO
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,398,600
Cap Rate 7%
$999,000
Cap Rate 9%
$777,000
Alternative Uses
Best Use
Office B
$1.32M
$1.15M – $1.54M
NOI $92,232 @ 7.0% cap · market cap 11.54%
Second Best
Healthcare Medical
$999.0K
$874.1K – $1.17M
NOI $69,930 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,840 @ 7.0% cap · market cap 18.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-level commercial facility with reception, multiple exam or office rooms, and an employee kitchen.
Where is this medical office space located?
The property is located at 2531 E 2531.0 32nd Street Joplin, MO.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Approximately 7,000 sq ft medical office building; Main level includes reception and multiple exam or office rooms; Staff kitchen with gas range, dishwasher, microwave, and garbage disposal
