Medical Office Building with
For Sale
$799,000
Pending
2531 E 32nd Street, Joplin, MO 64804
COMMERCIAL - Joplin, MO
Property Size7,000 SF
Lot Size0.64 Acres
Days on Market159
Property Features for 2531 E 32nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1-PD
Directions
From Rangeline and 32nd St, head West approximately 1/4 mile. On North side of E 32nd St
Subdivision
04 - Joplin City - SE
Standard status
Pending
Size
7,000 SF
Lot size
0.64 Acres
Taxes and HOA fees
Tax Annual Amount
8289
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Building Details
Year built
1980
Flooring type
Laminate, Vinyl, Carpet
Roof type
Composition
Listing Agency:
Realty One Group Ovation
(417) 553-1818
Listed By:
Macfee Team, Lindsey Macfee · License #2005002710
(417) 396-1397
Added: Mar 12
Changed: Aug 10
Last Checked: Aug 17 at 5:06AM
MLS# 261300
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.
Approximately 7,000 SF medical office building on a 0.64-acre lot, built in 1980, with a layout designed for professional and healthcare use. The main level includes a front reception area just inside the entrance along with multiple exam or office rooms. A staff break area features a kitchen equipped with a gas range, dishwasher, microwave, and garbage disposal.
Upstairs, the property includes spacious living quarters and a large 24 x 47 space that can be used for storage, additional offices, or expanded workspace. Flooring includes vinyl, carpet, and laminate. Heating is central with natural gas, and cooling is provided by central air. The roof is composition.
The building sits on E 32nd Street in Joplin, Missouri, zoned C1-PD and positioned for continued medical use, professional offices, counseling services, or other office-oriented commercial ventures.
Upstairs, the property includes spacious living quarters and a large 24 x 47 space that can be used for storage, additional offices, or expanded workspace. Flooring includes vinyl, carpet, and laminate. Heating is central with natural gas, and cooling is provided by central air. The roof is composition.
The building sits on E 32nd Street in Joplin, Missouri, zoned C1-PD and positioned for continued medical use, professional offices, counseling services, or other office-oriented commercial ventures.
Key Highlights
- Approximately 7,000 SF medical office building on 0.64‑acre lot
- Main level reception area plus multiple exam or office rooms
- Upstairs living quarters plus a 24 x 47 flexible space
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
218
Businesses Nearby
Well-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 - Approximately 7,000 SF medical office building with reception and multiple rooms, plus upstairs living quarters and central HVAC.
Where is this medical office space located?
The property is located at 2531 E 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 SF medical office building on 0.64‑acre lot; Main level reception area plus multiple exam or office rooms; Upstairs living quarters plus a 24 x 47 flexible space
