C-1 Storefront
For Sale
$384,900
2702 Ashland Avenue, St Joseph, MO 64506
Established retail property with paved on-site parking in a commercial corridor.
Property Size2,667 SF
Days on Market181
Property Features for 2702 Ashland Avenue
General Information
Standard status
Active
Size
2,667 SF
Zoning
C-1
Taxes and HOA fees
Annual Taxes
$4,617
Amenities
Parking Lot, Paved
Building Details
Building Size
2,667 SF
Year Built
1952
Stories
1
Listing Agency:
BHHS Stein & Summers
(816) 232-2000
Listed By:
Adam Stein · License #BR00233131
(816) 232-2000
Source:
Evrealestate
Added: Mar 2
Changed: Aug 29
Last Checked: Aug 29 at 2:43PM
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 BHHS Stein & Summers
Investment Insights
Based on property information with market context.
This storefront property was built in 1952 and includes a paved parking lot. The asset is zoned C-1, supporting its classification as a commercial retail property.
Access is provided from the Belt Highway via Gene Field Road and Ashland Avenue. The property is located at 2702 Ashland Avenue in St. Joseph, Missouri, within Buchanan County.
Access is provided from the Belt Highway via Gene Field Road and Ashland Avenue. The property is located at 2702 Ashland Avenue in St. Joseph, Missouri, within Buchanan County.
Key Highlights
- C‑1 zoning
- 1952 construction
- Paved parking lot
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
$25,163
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
6.54%
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%
$503,260
$503.3K
Cap Rate 7%
$359,471
$359.5K
Cap Rate 9%
$279,589
$279.6K
Market Conditions
NOI Build-Up for 2,667 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
$37.4K $14.04/SF
− Vacancy
−$1.5K −$0.56/SF
EGI
$35.9K $13.48/SF
− OpEx
−$10.8K −$4.04/SF
NOI
$25.2K $9.43/SF
Area
Buchanan County, MO
Vacancy
4.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$503,260
Cap Rate 7%
$359,471
Cap Rate 9%
$279,589
Alternative Uses
Best Use
Retail
$359.5K
$314.5K – $419.4K
NOI $25,163 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$804.7K
$704.1K – $938.8K
NOI $56,327 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64506, MO
22,828
Population
9,820
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
2,283
Density / Sq Mi
$61,713
Median Household Income
$38,832
Median Earnings
$908
Median Rent
$220,500
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?
Storefront property - Established retail property with paved on-site parking in a commercial corridor.
Where is this storefront property located?
The property is located at 2702 Ashland Avenue St Joseph, MO.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: C‑1 zoning; 1952 construction; Paved parking lot
