Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Joplin/Webb City Industrial Property Title is generated by Realmo AI

    3502 Red Iron Drive, Joplin, MO 64801

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $875,000

    Commercial property for sale or lease in industrial area.

    Type:IND, IND-BP, SPEC
    Added:
    Jul 10, 2024
    Days on Market:
    684
    Last Refresh:
    Apr 3 at 5:03 am

    Property Features for 3502 Red Iron Drive

    General Information

    Standard status
    Active
    Property subtype
    IND, IND-BP, SPEC

    Building Details

    Year Built
    2005

    We can help!

    Listing Contact
    Gil Stevens

    Listing agent Gil Stevens License #1999021533

    Listing office Keller Williams Realty Elevate

    Listing date Jul 10, 2024

    Source Realnex

    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 Keller Williams Realty Elevate

    HighLights

    • Located in Joplin/Webb City Business Industrial Area
    • Property is available for sale or lease
    • Built in 2005

    Overview

    Located in the Joplin/Webb City Business Industrial Area, this commercial property is available for sale or lease.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Joplin
    County
    Jasper
    State
    Missouri
    Longitude
    -94.4610536
    Latitude
    37.1212153

    Nearby Similar for Sale

    • $700,000
      6,540 SF

      Prime Medical Suite in Joplin

      Turnkey medical office in Joplin's healthcare district.
      1703 W 30th Street, Joplin, MO 64804
      View Details
    • $333,000
      3,360 SF

      Retail/Office Building on 0.62 Acres

      3,360 SF retail/office building with excellent visibility and frontage.
      5467 N Main Street Road, Joplin, MO 64801
      View Details
    • $695,000
      10,800 SF

      Versatile Commercial Building in Joplin

      10,800 SF commercial building suitable for various business uses.
      402 E 7th Street, Joplin, MO 64801
      View Details
    • $488,000
      7,318 SF

      Versatile Commercial Building Near I-44

      Adaptable commercial property near medical corridor and Interstate 44.
      5734 S Main Street, Joplin, MO 64801
      View Details
    • $395,000
      5,670 SF

      Joplin Commercial Building For Sale

      Stand-alone building suitable for industrial or commercial uses.
      600 E Broadway Street, Joplin, MO 64801
      View Details
    • $349,900
      5,500 SF

      Historic Restaurant, Bar, and Lounge

      Landmark commercial property with restaurant, bar, and lounge.
      102 Broadlawn Boulevard, Joplin, MO 64804
      View Details
    • $488,000
      7,318 SF

      Versatile Commercial Property Near I-44

      Adaptable commercial building near the Joplin medical corridor and I-44.
      5734 S Main Street, Joplin, MO 64801
      View Details
    • $1,699,000
      15,000 SF

      Versatile Commercial Building on Route 66

      Adaptable commercial building with high visibility and multiple usable areas.
      204 E 7th Street, Joplin, MO 64801
      View Details
    • $799,000
      7,000 SF

      Versatile Commercial Building in Joplin

      7,000 sq ft commercial building suitable for medical or office.
      2531 E 32nd Street, Joplin, MO 64804
      View Details
    • $1,400,000
      3,600 SF

      Commercial Buildings on Rangeline

      Turnkey commercial property with office, shop, and storage buildings.
      3203 N Rangeline Road, Joplin, MO 64801
      View Details
    • $354,000
      5,200 SF

      Well-Maintained Commercial Building in Joplin

      Spacious showroom, offices, and parking in West Joplin.
      2926 Junge Boulevard, Joplin, MO 64801
      View Details
    • $873,562
      12,318 SF

      Adaptable Commercial Property in Joplin

      Substantial commercial property with retail, office, and warehouse potential.
      711 S Patterson Avenue, Joplin, MO 64801
      View Details

    FAQs

    What type of property is this?
    Specialty property - Commercial property for sale or lease in industrial area.
    Where is this specialty property located?
    The property is located at 3502 Red Iron Drive Joplin, MO.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: Located in Joplin/Webb City Business Industrial Area; Property is available for sale or lease; Built in 2005
    We can help!
    Listing Contact
    Gil Stevens
    Real Estate License ID: 1999021533
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3502 Red Iron Drive, Joplin, MO 64801
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!