Joplin Self-Storage Investment
For Sale
Contact for pricing
Pending
615 N Main St Rd, Joplin, MO 64801
Self-storage facility with high occupancy and revenue growth potential.
Property Size7,410 SF
Days on Market225
Property Features for 615 N Main St Rd
General Information
Standard status
Pending
Size
7,410 SF
Property subtype
Self Storage
Occupancy
97%
Lease Type
Gross
Building Details
Buildings
4
Units
47
Tenancy
Multi
Listing Agency:
NAI Martens
Listed By:
Drew Gannon · License #KS 00242621
(316) 262-0000
Source:
Crexi
Added: Jan 21
Changed: Aug 8
Last Checked: Jul 25 at 6:36AM
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 NAI Martens
Investment Insights
Based on property information with market context.
This self-storage facility presents an opportunity for revenue growth through rent optimization, as many current tenants are below street rates. Additional income potential exists through tenant insurance and ancillary services. The property is a turnkey operation, featuring an existing on-site manager willing to remain. It has a proven history of high occupancy, with approximately 97% of units and square footage currently occupied, and only one unit available. The facility benefits from robust marketing and search engine optimization, appearing on the first page of Google results for "Joplin Missouri Self Storage". Located in Southwest Missouri, the property is near Springfield, MO, and Northwest Arkansas. Joplin features strong demographics, with a 5-mile population exceeding 80,000, a daytime population of approximately 240,000, and a regional trade area serving more than 400,000 residents. The property size is 7,410 square feet.
Key Highlights
- Proven high occupancy history (approximately 97%) with only one unit currently available.
- Opportunity for revenue growth through rent optimization and ancillary income.
- Turnkey operation with existing on‑site manager willing to stay.
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
$30,033
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
8.71%
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%
$600,660
$600.7K
Cap Rate 7%
$429,043
$429.0K
Cap Rate 9%
$333,700
$333.7K
Market Conditions
NOI Build-Up for 7,410 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
$44.5K $6.00/SF
− Vacancy
−$1.6K −$0.21/SF
EGI
$42.9K $5.79/SF
− OpEx
−$12.9K −$1.74/SF
NOI
$30.0K $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%
$600,660
Cap Rate 7%
$429,043
Cap Rate 9%
$333,700
Alternative Uses
Best Use
Self Storage
$909.7K
$796.0K – $1.06M
NOI $63,676 @ 7.0% cap · market cap 18.46%
Second Best
Industrial
$429.0K
$375.4K – $500.6K
NOI $30,033 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,499 @ 7.0% cap · market cap 45.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage facility with high occupancy and revenue growth potential.
Where is this self storage facility located?
The property is located at 615 N Main St Rd Joplin, MO.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Proven high occupancy history (approximately 97%) with only one unit currently available.; Opportunity for revenue growth through rent optimization and ancillary income.; Turnkey operation with existing on‑site manager willing to stay.
