Retail Space with Three
For Sale
$4,950,000
2914 E 32nd Street, Joplin, MO 64804
COMMERCIAL - Joplin, MO
Property Size35,000 SF
Lot Size5.45 Acres
Price / SF$141.43
Days on Market776
Property Features for 2914 E 32nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-3
Directions
Southwest corner of 32nd and Range Line. Southside Shopping Center.
Subdivision
04 - Joplin City - SE
Standard status
Active
APN
73-15738-0
Size
35,000 SF
Lot size
5.45 Acres
Taxes and HOA fees
Tax Annual Amount
27578
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Building Details
Year built
1985
Flooring type
Concrete, Carpet, Vinyl
Roof type
Metal
Listing Agency:
GLENN GIBSON COMMERCIAL REAL ESTATE
(417) 825-8213
Listed By:
Luke Gibson · License #2015033987
(417) 359-6868
Added: Jul 3, 2024
Changed: Aug 4
Last Checked: Aug 17 at 8:06AM
MLS# 243296
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 retail space listing offers a multi-building setup on approximately 5.45 acres, zoned C-3. The property includes three retail buildings plus an additional vacant parcel of approximately one acre, for flexible redevelopment and repositioning. Building A (100) includes approximately 21,430 square feet and is currently approximately 46% occupied. Building B (200) includes approximately 8,000 square feet and is currently approximately 12% occupied. Building C (Track 3) includes approximately 5,200 square feet.
The property has frontage and access on both Range Line Road and 32nd Street, supporting multiple points of entry for current operations and future plans. The listing also notes approximately 1.8 acres of vacant land included, with full approved plans for SpringHill Suites by Marriott(R). Flooring includes concrete, carpet, and vinyl, with central natural gas heating and central air cooling, and a metal roof.
Built in 1985, the combined site presents a configuration that can be evaluated as-is for existing improvements or potentially restructured through subdivision, as the owner will consider subdividing parcels.
The property has frontage and access on both Range Line Road and 32nd Street, supporting multiple points of entry for current operations and future plans. The listing also notes approximately 1.8 acres of vacant land included, with full approved plans for SpringHill Suites by Marriott(R). Flooring includes concrete, carpet, and vinyl, with central natural gas heating and central air cooling, and a metal roof.
Built in 1985, the combined site presents a configuration that can be evaluated as-is for existing improvements or potentially restructured through subdivision, as the owner will consider subdividing parcels.
Key Highlights
- Approximately 5.45‑acre C‑3 retail site with frontage and access on Range Line Road and 32nd Street
- Building A (100): approximately 21,430 SF and approximately 46% occupied
- Building B (200): approximately 8,000 SF and approximately 12% occupied
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
$330,221
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
6.67%
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%
$6,604,420
$6.6M
Cap Rate 7%
$4,717,443
$4.7M
Cap Rate 9%
$3,669,122
$3.7M
Market Conditions
NOI Build-Up for 35,000 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
$491.4K $14.04/SF
− Vacancy
−$19.7K −$0.56/SF
EGI
$471.7K $13.48/SF
− OpEx
−$141.5K −$4.04/SF
NOI
$330.2K $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%
$6,604,420
Cap Rate 7%
$4,717,443
Cap Rate 9%
$3,669,122
Alternative Uses
Best Use
Retail
$4.72M
$4.13M – $5.50M
NOI $330,221 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.56M
$9.24M – $12.32M
NOI $739,200 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
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?
Retail space - C-3 zoned retail complex on 5.45 acres with frontage and access on Range Line Road and 32nd Street.
Where is this retail space located?
The property is located at 2914 E 32nd Street Joplin, MO.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Approximately 5.45‑acre C‑3 retail site with frontage and access on Range Line Road and 32nd Street; Building A (100): approximately 21,430 SF and approximately 46% occupied; Building B (200): approximately 8,000 SF and approximately 12% occupied
