Flex Space with Seven Overhead
For Sale
$695,000
402 E 7th Street, Joplin, MO 64801
SINGLE_FAMILY - Joplin, MO
Property Size10,800 SF
Lot Size0.55 Acres
Price / SF$64.35
Days on Market180
Property Features for 402 E 7th Street
General Information
Property type
Residential
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Lot features
Sidewalk(s)
View
City
Directions
from 7th st and Main st in Joplin, go 4 blocks th East to 7th and Kentucky to building on SE corner
Standard status
Active
APN
19-1.0-11-20-9-1.0
Lot size
0.55 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Jop Misc Lots 1 2 & 3 & Lots 23 & 24 & Vac Alley
Tax Annual Amount
3020
Legal Description
Jop Misc Lots 1 2 & 3 & Lots 23 & 24 & Vac Alley
Utilities
Utilities
Water Available
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Electric
Amenities
overhead doors
exterior lighting
Building Details
Year built
1965
Roof type
Flat, Rubber
Listing Agency:
PRO 100 Inc., REALTORS
(417) 782-0800
Listed By:
James I. Hunter, IV · License #201110009040
(417) 850-5355
Added: Feb 16
Changed: Aug 5
Last Checked: Aug 15 at 6:06PM
MLS# 60315510
Copyright © 2026 Southern Missouri Regional MLS, LLC (SOMO). 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.
Flex space building totaling 10,800 square feet, formerly an auto dealership and previously supporting automotive sales, auto repair, tire service, and retail operations. The layout includes a spacious showroom, multiple offices, and a large work area, plus two bathrooms. Vehicle and equipment access is provided by seven overhead doors.
The property sits on a 0.5533-acre site at 402 E 7th Street in central Joplin. Positioned along a busy thoroughfare with an estimated 5,000–10,000 vehicles per day, it offers strong visibility and convenient access. Recent updates include a new roof, new exterior paint, and a new HVAC unit. Additional features include an existing sign pole, ample parking, and exterior lighting. Heating is forced air with natural gas, and cooling is electric central air. The roof is described as flat rubber, and water service is available. Built in 1965.
The property sits on a 0.5533-acre site at 402 E 7th Street in central Joplin. Positioned along a busy thoroughfare with an estimated 5,000–10,000 vehicles per day, it offers strong visibility and convenient access. Recent updates include a new roof, new exterior paint, and a new HVAC unit. Additional features include an existing sign pole, ample parking, and exterior lighting. Heating is forced air with natural gas, and cooling is electric central air. The roof is described as flat rubber, and water service is available. Built in 1965.
Key Highlights
- 10,800 SF flex space building with showroom, offices, and large work area
- Seven overhead doors for vehicle or equipment access
- 0.5533‑acre site on a high‑visibility central Joplin thoroughfare (estimated 5,000–10,000 vehicles per day)
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
$43,772
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
6.30%
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%
$875,440
$875.4K
Cap Rate 7%
$625,314
$625.3K
Cap Rate 9%
$486,356
$486.4K
Market Conditions
NOI Build-Up for 10,800 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 $6.00/SF
− Vacancy
−$2.3K −$0.21/SF
EGI
$62.5K $5.79/SF
− OpEx
−$18.8K −$1.74/SF
NOI
$43.8K $4.05/SF
Area
Jasper County, MO
Vacancy
3.50%
Lease Rate
$6.00 /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%
$875,440
Cap Rate 7%
$625,314
Cap Rate 9%
$486,356
Alternative Uses
Best Use
Retail
$1.46M
$1.27M – $1.70M
NOI $101,897 @ 7.0% cap · market cap 14.66%
Second Best
Industrial
$625.3K
$547.2K – $729.5K
NOI $43,772 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $228,096 @ 7.0% cap · market cap 32.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Drive-in doors
10,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
Under-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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Frequently Asked Questions
What type of property is this?
Flex space - Flex space building with seven overhead doors, showroom and work area, and updated roof, paint, and HVAC.
Where is this flex space located?
The property is located at 402 E 7th Street Joplin, MO.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 10,800 SF flex space building with showroom, offices, and large work area; Seven overhead doors for vehicle or equipment access; 0.5533‑acre site on a high‑visibility central Joplin thoroughfare (estimated 5,000–10,000 vehicles per day)
