Fully Leased Strip
For Sale
$1,600,000
2727 E 32nd Street, Joplin, MO 64804
COMMERCIAL - Joplin, MO
Property Size14,720 SF
Lot Size2.88 Acres
Price / SF$108.70
Days on Market159
Property Features for 2727 E 32nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
c-3pd
Directions
From the corner of 32nd and Rangeline head west past Arizona Street stop light then onto the Building just past that intersection on the North side
Subdivision
04 - Joplin City - SE
Standard status
Active
Size
14,720 SF
Lot size
2.88 Acres
Taxes and HOA fees
Tax Annual Amount
18745
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Flooring type
Ceramic
Listing Agency:
KELLER WILLIAMS REALTY ELEVATE
(417) 623-9900
Listed By:
Deborah Barlos · License #2001021542
(417) 437-8537
Added: Mar 12
Changed: Aug 4
Last Checked: Aug 17 at 4:06AM
MLS# 261370
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 fully leased strip mall is set up for income-producing occupancy, with 11 occupied units totaling 14,720 square feet. The property sits on 2.88 acres and includes plenty of parking for tenants and visitors.
The facility is zoned C-3PD and features ceramic flooring. Heating is provided via central electric heat, and the building is cooled with central air.
For buyers looking for a retail asset with established occupancy, the combination of occupied unit count, overall size, and on-site parking supports a practical, operations-focused ownership profile.
The facility is zoned C-3PD and features ceramic flooring. Heating is provided via central electric heat, and the building is cooled with central air.
For buyers looking for a retail asset with established occupancy, the combination of occupied unit count, overall size, and on-site parking supports a practical, operations-focused ownership profile.
Key Highlights
- Fully leased strip mall with 11 occupied units
- 14,720 SF retail space
- 2.88 acres
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
$138,881
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
8.68%
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%
$2,777,620
$2.8M
Cap Rate 7%
$1,984,014
$2.0M
Cap Rate 9%
$1,543,122
$1.5M
Market Conditions
NOI Build-Up for 14,720 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
$206.7K $14.04/SF
− Vacancy
−$8.3K −$0.56/SF
EGI
$198.4K $13.48/SF
− OpEx
−$59.5K −$4.04/SF
NOI
$138.9K $9.43/SF
Area
Jasper 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%
$2,777,620
Cap Rate 7%
$1,984,014
Cap Rate 9%
$1,543,122
Alternative Uses
Best Use
Retail
$1.98M
$1.74M – $2.31M
NOI $138,881 @ 7.0% cap · market cap 8.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.44M
$3.89M – $5.18M
NOI $310,886 @ 7.0% cap · market cap 19.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
162k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 74%
Home Improvements & Furnishings 22%
Shops & Services 4%
Sam's Club
Superstores
119,782 visits/mo
0.4 miles
Menards
Home Improvements & Furnishings
35,546 visits/mo
0.4 miles
Phillips 66
Shops & Services
3,410 visits/mo
0.3 miles
Food Mart
Shops & Services
3,152 visits/mo
0.3 miles
Airgas
Home Improvements & Furnishings
437 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
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased south Joplin strip mall with 11 occupied units totaling 14,720 SF on 2.88 acres.
Where is this strip mall located?
The property is located at 2727 E 32nd Street Joplin, MO.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Fully leased strip mall with 11 occupied units; 14,720 SF retail space; 2.88 acres
