Medical Center on Large
For Sale
$399,000
Pending
3111 N Belt Highway, St Joseph, MO 64506
Commercial Sale, St Joseph, MO
Property Size2,496 SF
Lot Size0.70 Acres
Days on Market261
Property Features for 3111 N Belt Highway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C-3
Parking features
Parking Lot
Directions
From I-29, exist at Frederick Ave. West on Frederick Ave to Belt Hwy. North on Belt Hwy to property on east side of street between Gene Field & Cook Rd.
Subdivision
1132 - Buchanan Co NW-N=Co Line;S=I-36;E=I-29;W=M
Standard status
Pending
APN
03-8.0-34-004-000-026.000
Lot size
0.70 Acres
Taxes and HOA fees
Tax Annual Amount
6608
Utilities
Utilities
Water Available
Building Details
Year built
1967
Floors in Building
1
Listing Agency:
BHHS Stein & Summers Real Estate · Berkshire Hathaway HomeServices
(816) 232-2000
Listed By:
RAY SISSON · License #1999020688
(816) 390-7478
Added: Jan 8
Changed: Sep 5
Last Checked: Sep 26 at 11:06PM
MLS# 2595421
Copyright © 2026 Heartland Multiple Listing Service. 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.
The property includes a 2,496-square-foot veterinary clinic building constructed in 1967. The site provides a parking lot and 0.7 acres of land, with water available and C-3 zoning.
Located at 3111 N Belt Highway in St. Joseph, the building sits in front of Genesis Health Club along the Belt Highway. The property combines an existing healthcare-oriented facility with a sizable commercial site and established parking area.
Located at 3111 N Belt Highway in St. Joseph, the building sits in front of Genesis Health Club along the Belt Highway. The property combines an existing healthcare-oriented facility with a sizable commercial site and established parking area.
Key Highlights
- 2,496‑square‑foot veterinary clinic building
- 0.7‑acre site with parking lot
- C‑3 zoning
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
$34,505
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
8.65%
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%
$690,100
$690.1K
Cap Rate 7%
$492,929
$492.9K
Cap Rate 9%
$383,389
$383.4K
Market Conditions
NOI Build-Up for 2,496 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
$57.5K $23.04/SF
− Vacancy
−$11.5K −$4.61/SF
EGI
$46.0K $18.43/SF
− OpEx
−$11.5K −$4.61/SF
NOI
$34.5K $13.82/SF
Area
Buchanan County, MO
Vacancy
20.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$690,100
Cap Rate 7%
$492,929
Cap Rate 9%
$383,389
Alternative Uses
Best Use
Office B
$492.9K
$431.3K – $575.1K
NOI $34,505 @ 7.0% cap · market cap 8.65%
Second Best
Healthcare Medical
$434.6K
$380.3K – $507.0K
NOI $30,421 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$753.1K
$659.0K – $878.6K
NOI $52,716 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office 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?
Medical center - Veterinary clinic building with parking and C-3 zoning.
Where is this medical center located?
The property is located at 3111 N Belt Highway St Joseph, MO.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,496‑square‑foot veterinary clinic building; 0.7‑acre site with parking lot; C‑3 zoning
