Climate Controlled Warehouse with
For Sale
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3414 S 22nd Street, St Joseph, MO 64503
32,000 SF climate controlled warehouse with 15,000 SF retail.
Property Size32,000 SF
Price / SF$42.97
Days on Market413
Property Features for 3414 S 22nd Street
General Information
Standard status
Active
Size
32,000 SF
Property subtype
Retail
Zoning
C-3
Building Details
Year Built
1960
Stories
1
Listing Agency:
BHHS Stein & Summers
(816) 390-7478
Listed By:
RAY SISSON · License #CA
Source:
Crexi
Added: Jun 26, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Stein & Summers
Investment Insights
Based on property information with market context.
The property features 32,000 square feet of space suitable for a climate-controlled warehouse or mini-warehouse storage. An additional 15,000 square feet is available for retail use. The property includes a large parking lot and benefits from a new roof installed in 2009. The HVAC system has been updated with nine new units. The electrical system is equipped with 3-phase power.
Key Highlights
- 32,000 SF climate controlled warehouse/mini‑warehouse space
- Large parking lot
- Additional 15,000 SF retail space
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
$107,364
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
7.81%
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%
$2,147,280
$2.1M
Cap Rate 7%
$1,533,771
$1.5M
Cap Rate 9%
$1,192,933
$1.2M
Market Conditions
NOI Build-Up for 32,000 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
$161.3K $5.04/SF
− Vacancy
−$7.9K −$0.25/SF
EGI
$153.4K $4.79/SF
− OpEx
−$46.0K −$1.44/SF
NOI
$107.4K $3.36/SF
Area
Buchanan County, MO
Vacancy
4.90%
Lease Rate
$5.04 /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%
$2,147,280
Cap Rate 7%
$1,533,771
Cap Rate 9%
$1,192,933
Alternative Uses
Best Use
Retail
$4.31M
$3.77M – $5.03M
NOI $301,916 @ 7.0% cap · market cap 21.96%
Second Best
Warehouse
$1.86M
$1.63M – $2.17M
NOI $130,371 @ 7.0% cap · market cap 9.48%
Theoretical Best
Office A
$9.65M
$8.45M – $11.26M
NOI $675,840 @ 7.0% cap · market cap 49.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 64503, MO
12,127
Population
5,774
Households
2.1
Avg Household Size
39
Median Age
16%
College-Educated
89%
High-School Grad
14.5 sq mi
ZIP Area
836
Density / Sq Mi
$53,351
Median Household Income
$35,439
Median Earnings
$926
Median Rent
$133,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 32,000 SF climate controlled warehouse with 15,000 SF retail.
Where is this warehouse located?
The property is located at 3414 S 22nd Street St Joseph, MO.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 32,000 SF climate controlled warehouse/mini‑warehouse space; Large parking lot; Additional 15,000 SF retail space
