Renovated Mixed-Use
New
For Sale
$389,900
512 S Joplin Avenue, Joplin, MO 64801
Commercial Sale, Joplin, MO
Property Size3,000 SF
Lot Size0.05 Acres
Price / SF$129.97
Days on Market3
Property Features for 512 S Joplin Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Directions
Downtown Joplin, Joplin St, west side between 5th and 6th St.
Subdivision
01 - Joplin City - NW
Standard status
Active
Size
3,000 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
1768
Utilities
Heating system
Electric (Heating), Central, Forced Air
Cooling system
Central Air
Building Details
Year built
1910
Flooring type
Hardwood, Concrete
Roof type
Built-Up
Listing Agency:
KELLER WILLIAMS REALTY ELEVATE
(417) 623-9900
Listed By:
Jonathan Leach Team · License #2010021598
(417) 850-5010
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 13 at 6:06AM
MLS# 265179
Copyright © 2026 Ozark Gateway Association of Realtors. 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.
Built in 1910, this 3,000-square-foot mixed-use commercial building occupies a 0.05-acre site in Downtown Joplin. The current arrangement places an event venue on the main level with office space above, creating a two-level configuration for combined commercial uses. Renovated interiors retain exposed stone walls, original wood flooring, and tin ceilings, while concrete flooring is also present. The building includes two bathrooms, central air conditioning, and electric forced-air heating.
The property is located at 512 S Joplin Avenue in Joplin, Missouri, within the 64801 postal area. Its commercial history includes Grand Union Tea Company, Sar-Tol Drug Store, and Whitaker Printing. The existing layout and character support the event venue and office configuration currently in place, with the source information also identifying restaurant, hospitality, creative workspace, professional office, retail, and combined-use concepts as possible directions.
The property is located at 512 S Joplin Avenue in Joplin, Missouri, within the 64801 postal area. Its commercial history includes Grand Union Tea Company, Sar-Tol Drug Store, and Whitaker Printing. The existing layout and character support the event venue and office configuration currently in place, with the source information also identifying restaurant, hospitality, creative workspace, professional office, retail, and combined-use concepts as possible directions.
Key Highlights
- 3,000‑square‑foot mixed‑use building on a 0.05‑acre site
- Built in 1910 with renovated commercial interiors
- Main‑level event venue with office space upstairs
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
$28,305
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
7.26%
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%
$566,100
$566.1K
Cap Rate 7%
$404,357
$404.4K
Cap Rate 9%
$314,500
$314.5K
Market Conditions
NOI Build-Up for 3,000 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
$42.1K $14.04/SF
− Vacancy
−$1.7K −$0.56/SF
EGI
$40.4K $13.48/SF
− OpEx
−$12.1K −$4.04/SF
NOI
$28.3K $9.43/SF
Area
Jasper County, MO
Vacancy
4.00%
Lease Rate
$14.04 /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%
$566,100
Cap Rate 7%
$404,357
Cap Rate 9%
$314,500
Alternative Uses
Best Use
Retail
$404.4K
$353.8K – $471.8K
NOI $28,305 @ 7.0% cap · market cap 7.26%
Second Best
Mixed Use
$384.4K
$336.4K – $448.5K
NOI $26,910 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$905.1K
$792.0K – $1.06M
NOI $63,360 @ 7.0% cap · market cap 16.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,381
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Home Improvements & Furnishings 14%
Electronics 3%
Arvest Bank
Shops & Services
4,446 visits/mo
0.1 miles
Dollar General
Shops & Services
3,979 visits/mo
0.5 miles
Dollar General
Shops & Services
3,776 visits/mo
0.4 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
2,018 visits/mo
0.1 miles
Metro by T-Mobile
Electronics
438 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic commercial property with event space, upper-level offices, and preserved architectural details.
Where is this mixed-use property located?
The property is located at 512 S Joplin Avenue Joplin, MO.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 3,000‑square‑foot mixed‑use building on a 0.05‑acre site; Built in 1910 with renovated commercial interiors; Main‑level event venue with office space upstairs
