Mixed-Use Building with Rooftop
For Sale
$2,200,000
702 S Wall Avenue, Joplin, MO 64801
COMMERCIAL - Joplin, MO
Property Size17,940 SF
Lot Size0.60 Acres
Price / SF$122.63
Days on Market473
Property Features for 702 S Wall Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Directions
From 7th and Main, west on 7th to property at SWC 7th and Wall Ave. Parking on west side of building, entrance on Pearl Ave.
Subdivision
03 - Joplin City - SW
Standard status
Active
APN
31-001411-0000
Size
17,940 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Annual Amount
10381
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1920
Number of units
14
Flooring type
Concrete, Vinyl
Roof type
Rubber
Listing Agency:
GLENN GIBSON COMMERCIAL REAL ESTATE
(417) 825-8213
Listed By:
Luke Gibson · License #2015033987
(417) 359-6868
Added: Apr 21, 2025
Changed: Aug 4
Last Checked: Aug 6 at 8:06PM
MLS# 252107
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.
This mixed-use building offers a combination of residential and commercial space, with 12 apartment units and two ground-level commercial spaces suited for retail or office use. The apartments are described as modern and designed with open floor plans and large windows that bring in natural light. Building amenities include private off-street parking for tenants and customers, as well as a shared rooftop deck with panoramic views.
Located at 702 S Wall Avenue in Joplin, Missouri, the property is positioned in the downtown core. The remarks indicate close proximity to the Cornell Complex and nearby downtown destinations, creating a walkable environment for residents and commercial tenants.
For buyers and operators, this configuration supports a mixed-income ownership model, with income potential tied to both apartment rentals and street-level commercial tenants. The ground-floor layout is intended to serve retail or service-oriented users, while the apartment component provides on-site residential demand. The on-site parking and rooftop deck can also help make the property more attractive to both tenants and customers in a downtown setting.
Located at 702 S Wall Avenue in Joplin, Missouri, the property is positioned in the downtown core. The remarks indicate close proximity to the Cornell Complex and nearby downtown destinations, creating a walkable environment for residents and commercial tenants.
For buyers and operators, this configuration supports a mixed-income ownership model, with income potential tied to both apartment rentals and street-level commercial tenants. The ground-floor layout is intended to serve retail or service-oriented users, while the apartment component provides on-site residential demand. The on-site parking and rooftop deck can also help make the property more attractive to both tenants and customers in a downtown setting.
Key Highlights
- Mixed‑use property with 12 apartments plus 2 ground‑level commercial spaces
- Forced air heating and central air cooling
- Rooftop deck with shared access
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
$169,262
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
7.69%
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%
$3,385,240
$3.4M
Cap Rate 7%
$2,418,029
$2.4M
Cap Rate 9%
$1,880,689
$1.9M
Market Conditions
NOI Build-Up for 17,940 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
$251.9K $14.04/SF
− Vacancy
−$10.1K −$0.56/SF
EGI
$241.8K $13.48/SF
− OpEx
−$72.5K −$4.04/SF
NOI
$169.3K $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%
$3,385,240
Cap Rate 7%
$2,418,029
Cap Rate 9%
$1,880,689
Alternative Uses
Best Use
Retail
$2.42M
$2.12M – $2.82M
NOI $169,262 @ 7.0% cap · market cap 7.69%
Second Best
Mixed Use
$2.30M
$2.01M – $2.68M
NOI $160,922 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$5.41M
$4.74M – $6.31M
NOI $378,893 @ 7.0% cap · market cap 17.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,223
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown Joplin mixed-use building with 12 apartments, ground-floor retail/office space, off-street parking, and shared rooftop deck.
Where is this mixed-use property located?
The property is located at 702 S Wall Avenue Joplin, MO.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Mixed‑use property with 12 apartments plus 2 ground‑level commercial spaces; Forced air heating and central air cooling; Rooftop deck with shared access
