Industrial Warehouse in
For Sale
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3502 Red Iron Dr, Joplin, MO 64801
Clear span warehouse with high ceilings and highway access.
Property Size7,700 SF
Price / SF$90.77
Days on Market178
Property Features for 3502 Red Iron Dr
General Information
Standard status
Active
Size
7,700 SF
Property subtype
Industrial
Building Details
Year Built
2005
Stories
1
Listing Agency:
Buttram Commercial Real Estate, LLC
(417) 782-4010
Listed By:
Alan Buttram · License #MO 1999078649
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 8 at 2:50PM
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 Buttram Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This clear span facility, originally constructed in 2005, was initially a gymnasium before being converted to an industrial warehouse. The building features a 20 ft. ceiling height, reaching 23 ft. in the center. It includes three overhead doors, six large exhaust fans, and 3-phase electric power. The property provides paved customer parking and incorporates office space, two restrooms, a storage room, and a tool and parts room. The facility is located in the Joplin/Webb City Industrial Park, offering convenient highway access. The property size is 7700 square feet.
Key Highlights
- 20 ft. Ceiling Height (23 ft. in center) - Provides unusual flexibility for various uses
- Located in Joplin/Webb City Industrial Park - Offers great highway access
- 3 Overhead Doors - Facilitates efficient loading and unloading
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
$37,896
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
5.42%
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%
$757,920
$757.9K
Cap Rate 7%
$541,371
$541.4K
Cap Rate 9%
$421,067
$421.1K
Market Conditions
NOI Build-Up for 7,700 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
$46.2K $6.00/SF
− Vacancy
−$1.6K −$0.21/SF
EGI
$44.6K $5.79/SF
− OpEx
−$6.7K −$0.87/SF
NOI
$37.9K $4.92/SF
Area
Jasper County, MO
Vacancy
3.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
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%
$757,920
Cap Rate 7%
$541,371
Cap Rate 9%
$421,067
Alternative Uses
Best Use
Warehouse
$541.4K
$473.7K – $631.6K
NOI $37,896 @ 7.0% cap · market cap 5.42%
Second Best
Industrial
$445.8K
$390.1K – $520.1K
NOI $31,208 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,624 @ 7.0% cap · market cap 23.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64801, MO
35,234
Population
17,460
Households
2
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
57.5 sq mi
ZIP Area
613
Density / Sq Mi
$51,360
Median Household Income
$31,103
Median Earnings
$884
Median Rent
$176,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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- Refresco Beverages — 3502 Enterprise Ave, Joplin, MO 64801
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- Lawver Storage — 2549 S Hall St, Webb City, MO 64870
- Don's Cold Storage And Logistics — 2320 S Hall St, Webb City, MO 64870
- Scout Products LLC — 805 E Fountain Rd, Webb City, MO 64870
Frequently Asked Questions
What type of property is this?
Warehouse - Clear span warehouse with high ceilings and highway access.
Where is this warehouse located?
The property is located at 3502 Red Iron Dr Joplin, MO.
What is the asking price?
The asking price for this property is $698,900.
What are key features of this property?
This property features: 20 ft. Ceiling Height (23 ft. in center) - Provides unusual flexibility for various uses; Located in Joplin/Webb City Industrial Park - Offers great highway access; 3 Overhead Doors - Facilitates efficient loading and unloading
