Clear-Span Flex
For Sale
$698,900
3502 Red Iron Drive, Webb City, MO 64870
Adaptable industrial space with tall ceilings, overhead doors, office support, and paved customer parking.
Property Size7,700 SF
Price / SF$90.77
Days on Market191
Property Features for 3502 Red Iron Drive
General Information
Standard status
Active
Size
7,700 SF
Property subtype
General Commercial
Warehouse & Industrial
Clear Height
23 ft
Clear Span
Yes
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Amenities
Concrete
3
Metal
IRR
Building Details
Year Built
2005
Listing Agency:
BUTTRAM COMMERCIAL REAL ESTATE LLC
(417) 850-0240
Listed By:
Alan Buttram · License #1999078649
(417) 850-0240
Source:
Xome
Added: Feb 20
Changed: Aug 30
Last Checked: Aug 30 at 3:39PM
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 7,700-square-foot flex facility offers a clear-span interior suited to industrial and warehouse operations. The building was constructed in 2005 and later adapted from gymnasium use to an industrial warehouse configuration. Ceiling clearance reaches 20 feet, with 23 feet at the center, and the property includes three overhead doors, six large exhaust fans, and 3-phase electric service.
Interior support areas include office space, two restrooms, a storage room, and a dedicated tool and parts room. Concrete construction elements, metal exterior materials, paved customer parking, and access to the Joplin/Webb City Industrial Park further define the property. Highway access is also noted, supporting connectivity for commercial operations.
Interior support areas include office space, two restrooms, a storage room, and a dedicated tool and parts room. Concrete construction elements, metal exterior materials, paved customer parking, and access to the Joplin/Webb City Industrial Park further define the property. Highway access is also noted, supporting connectivity for commercial operations.
Key Highlights
- 7,700‑square‑foot clear‑span flex facility
- 20‑foot ceiling height with 23 feet at the center
- Three overhead doors and 3‑phase electric service
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
Lease Details
23 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 64870, MO
16,566
Population
6,796
Households
2.4
Avg Household Size
35
Median Age
30%
College-Educated
92%
High-School Grad
33.6 sq mi
ZIP Area
493
Density / Sq Mi
$64,619
Median Household Income
$39,267
Median Earnings
$942
Median Rent
$166,000
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?
Flex space - Adaptable industrial space with tall ceilings, overhead doors, office support, and paved customer parking.
Where is this flex space located?
The property is located at 3502 Red Iron Drive Webb City, 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: 7,700‑square‑foot clear‑span flex facility; 20‑foot ceiling height with 23 feet at the center; Three overhead doors and 3‑phase electric service
