Dock-Loading
For Sale
$225,000
Pending
624 S 7th Street, St Joseph, MO 64501
C-3 zoning supports commercial use within a functional warehouse configuration.
Property Size5,000 SF
Days on Market642
Property Features for 624 S 7th Street
General Information
Standard status
Pending
Size
5,000 SF
Property subtype
Commercial/Industrial
Zoning
C-3
Warehouse & Industrial
Clear Height
12 ft
Dock-High Doors
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,861
Building Details
Year Built
1970
Listing Agency:
BHHS Stein & Summers Real Estate
(816) 248-6821
Listed By:
Adam Stein · License #BR00233131
(816) 248-6821
Source:
Exitrealty
Added: Nov 26, 2024
Changed: Aug 29
Last Checked: Aug 29 at 1:58PM
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 BHHS Stein & Summers Real Estate
Investment Insights
Based on property information with market context.
This warehouse property at 624 S 7th Street in St Joseph, Missouri, provides 5,000 square feet of commercial space with two dock doors and a 12-foot clear height. Built in 1970, the building offers a straightforward configuration for warehouse and other commercial applications supported by its C-3 zoning.
The property is positioned for convenient access to major highways and local amenities. Its location combines warehouse functionality with access considerations relevant to commercial users seeking space in St Joseph. The existing dock service, clear height, and documented building size provide a practical physical profile for evaluating the asset.
The property is positioned for convenient access to major highways and local amenities. Its location combines warehouse functionality with access considerations relevant to commercial users seeking space in St Joseph. The existing dock service, clear height, and documented building size provide a practical physical profile for evaluating the asset.
Key Highlights
- 5,000‑square‑foot warehouse building
- Two dock doors for loading access
- 12‑foot warehouse clear height
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
$20,370
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
9.05%
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%
$407,400
$407.4K
Cap Rate 7%
$291,000
$291.0K
Cap Rate 9%
$226,333
$226.3K
Market Conditions
NOI Build-Up for 5,000 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
$25.2K $5.04/SF
− Vacancy
−$1.2K −$0.25/SF
EGI
$24.0K $4.79/SF
− OpEx
−$3.6K −$0.72/SF
NOI
$20.4K $4.07/SF
Area
Buchanan County, MO
Vacancy
4.90%
Lease Rate
$5.04 /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%
$407,400
Cap Rate 7%
$291,000
Cap Rate 9%
$226,333
Alternative Uses
Best Use
Warehouse
$291.0K
$254.6K – $339.5K
NOI $20,370 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,600 @ 7.0% cap · market cap 46.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
2
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 64501, MO
11,020
Population
5,598
Households
2
Avg Household Size
36
Median Age
18%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
2,978
Density / Sq Mi
$41,615
Median Household Income
$29,276
Median Earnings
$823
Median Rent
$97,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- CubeSmart Self Storage — 402 S 5th St, St Joseph, MO 64501
Frequently Asked Questions
What type of property is this?
Warehouse - C-3 zoning supports commercial use within a functional warehouse configuration.
Where is this warehouse located?
The property is located at 624 S 7th Street St Joseph, MO.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 5,000‑square‑foot warehouse building; Two dock doors for loading access; 12‑foot warehouse clear height
