Brick Medical Office
New
For Sale
$500,000
3121 McClelland Boulevard, Joplin, MO 64804
Commercial Sale, Joplin, MO
Property Size3,600 SF
Lot Size1.20 Acres
Price / SF$138.89
Days on Market3
Property Features for 3121 McClelland Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
32nd & McClelland, north to bldg on east side
Subdivision
03 - Joplin City - SW
Standard status
Active
Size
3,600 SF
Lot size
1.20 Acres
Taxes and HOA fees
Tax Annual Amount
4973
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Building Details
Number of units
1
Flooring type
Concrete
Roof type
Built-Up
Listing Agency:
PRO 100 Inc., REALTORS
(417) 782-0800
Listed By:
HUNTER REAL ESTATE, Kevin Hunter · License #1999016642
(417) 629-8200
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 4 at 1:06AM
MLS# 264941
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 3,600-square-foot medical office property occupies 1.2 acres at 3121 McClelland Boulevard in Joplin, Missouri. The building has masonry construction with a full brick veneer, concrete flooring, a built-up roof, central air conditioning, and central natural-gas heating. Its prior dental-office use provides an existing medical-office context, while the property is positioned for renovation.
The site is located in Joplin, within Jasper County, and carries a 64804 ZIP code. The combination of a medical-office building, substantial land area, and existing mechanical systems provides a straightforward base for evaluating future office configuration and improvements.
The site is located in Joplin, within Jasper County, and carries a 64804 ZIP code. The combination of a medical-office building, substantial land area, and existing mechanical systems provides a straightforward base for evaluating future office configuration and improvements.
Key Highlights
- 3,600‑square‑foot medical office building on 1.2 acres
- Masonry construction with full brick veneer
- Prior dental‑office use; property is ready for renovation
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
$35,964
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
7.19%
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%
$719,280
$719.3K
Cap Rate 7%
$513,771
$513.8K
Cap Rate 9%
$399,600
$399.6K
Market Conditions
NOI Build-Up for 3,600 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
$64.8K $18.00/SF
− Vacancy
−$4.9K −$1.35/SF
EGI
$59.9K $16.65/SF
− OpEx
−$24.0K −$6.66/SF
NOI
$36.0K $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%
$719,280
Cap Rate 7%
$513,771
Cap Rate 9%
$399,600
Alternative Uses
Best Use
Office B
$677.6K
$592.9K – $790.6K
NOI $47,434 @ 7.0% cap · market cap 9.49%
Second Best
Healthcare Medical
$513.8K
$449.6K – $599.4K
NOI $35,964 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$1.09M
$950.4K – $1.27M
NOI $76,032 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding medical office property with central HVAC and a prior dental-office layout ready for renovation.
Where is this medical office space located?
The property is located at 3121 McClelland Boulevard Joplin, MO.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 3,600‑square‑foot medical office building on 1.2 acres; Masonry construction with full brick veneer; Prior dental‑office use; property is ready for renovation
