Fully Leased Office
For Sale
$1,600,000
2727 E 32nd Street, Joplin, MO 64804
Commercial Sale, Joplin, MO
Property Size14,720 SF
Lot Size2.88 Acres
Price / SF$108.70
Days on Market184
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: Sep 3
Last Checked: Sep 11 at 6:06AM
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 office property contains 11 occupied units totaling 14,720 square feet. The building sits on 2.88 acres and includes ceramic flooring, central air conditioning, and central electric heating. On-site parking supports the existing multi-unit configuration.
Located at 2727 E 32nd Street in south Joplin, the property carries C-3PD zoning. Its position within the 64804 postal area places the office asset in Jasper County, Missouri.
Located at 2727 E 32nd Street in south Joplin, the property carries C-3PD zoning. Its position within the 64804 postal area places the office asset in Jasper County, Missouri.
Key Highlights
- 11 occupied office units
- 14,720 square feet of building area
- 2.88‑acre 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
$147,053
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
9.19%
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%
$2,941,060
$2.9M
Cap Rate 7%
$2,100,757
$2.1M
Cap Rate 9%
$1,633,922
$1.6M
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
$265.0K $18.00/SF
− Vacancy
−$19.9K −$1.35/SF
EGI
$245.1K $16.65/SF
− OpEx
−$98.0K −$6.66/SF
NOI
$147.1K $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%
$2,941,060
Cap Rate 7%
$2,100,757
Cap Rate 9%
$1,633,922
Alternative Uses
Best Use
Office B
$2.77M
$2.42M – $3.23M
NOI $193,951 @ 7.0% cap · market cap 12.12%
Second Best
Healthcare Medical
$2.10M
$1.84M – $2.45M
NOI $147,053 @ 7.0% cap · market cap 9.19%
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
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Open Analytics
Current Use
Lease Details
11
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Multi-unit office property with central HVAC, ceramic flooring, and substantial on-site parking.
Where is this office building 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: 11 occupied office units; 14,720 square feet of building area; 2.88‑acre property
