Commercial Building in Downtown
For Sale
$249,900
716 S Pennsylvania Avenue, Joplin, MO 64801
COMMERCIAL - Joplin, MO
Property Size4,620 SF
Price / SF$54.09
Days on Market133
Property Features for 716 S Pennsylvania Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Directions
7th and main, E. 2 blocks to Pennsylvania.
Subdivision
04 - Joplin City - SE
Standard status
Active
Size
4,620 SF
Taxes and HOA fees
Tax Annual Amount
1503
Utilities
Heating system
Ceiling, Forced Air
Amenities
Overhead doors
Metal roof
Newer windows
Building Details
Year built
1950
Number of units
2
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Joplin Area Real Estate, LLC
(417) 499-7164
Listed By:
Matt Stokes · License #2006039513
(417) 439-1448
Added: Apr 13
Changed: Aug 4
Last Checked: Aug 23 at 4:06PM
MLS# 261921
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 commercial building is located in downtown Joplin and offers high visibility. The property, previously used as a machine shop with a newer auto shop addition, features two separate areas. It includes a total of 5 overhead doors, a metal roof, and newer windows. One of the larger areas is currently leased for $1000 per month. The building has a size of 4620 square feet and is located at 716 S Pennsylvania Avenue, Joplin, MO 64801.
Key Highlights
- Downtown Joplin commercial building with high‑visibility frontage and 2 separate areas
- Previously used as a machine shop and later a newer added auto shop
- Metal roof and newer windows
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
$18,725
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
7.49%
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%
$374,500
$374.5K
Cap Rate 7%
$267,500
$267.5K
Cap Rate 9%
$208,056
$208.1K
Market Conditions
NOI Build-Up for 4,620 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
$27.7K $6.00/SF
− Vacancy
−$970 −$0.21/SF
EGI
$26.7K $5.79/SF
− OpEx
−$8.0K −$1.74/SF
NOI
$18.7K $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%
$374,500
Cap Rate 7%
$267,500
Cap Rate 9%
$208,056
Alternative Uses
Best Use
Retail
$622.7K
$544.9K – $726.5K
NOI $43,589 @ 7.0% cap · market cap 17.44%
Second Best
Industrial
$267.5K
$234.1K – $312.1K
NOI $18,725 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,574 @ 7.0% cap · market cap 39.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,547
Businesses Nearby
6k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Home Improvements & Furnishings 31%
Arvest Bank
Shops & Services
4,446 visits/mo
0.2 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
2,018 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Allied Oil & Supply, Inc. — 1301 Virginia Ave, Joplin, MO 64801
- H&H Performance and Repair — 1409 S Illinois Ave, Joplin, MO 64801
- Comer's Muffler Center — 901 E 15th St, Joplin, MO 64804
- Chris Coats Towing — 1230 S Joplin Ave, Joplin, MO 64801
- Lewis Auto Painting — 1048 S Wall Ave, Joplin, MO 64801
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial building with high visibility, multiple overhead doors, and rental income.
Where is this auto shop located?
The property is located at 716 S Pennsylvania Avenue Joplin, MO.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Downtown Joplin commercial building with high‑visibility frontage and 2 separate areas; Previously used as a machine shop and later a newer added auto shop; Metal roof and newer windows
