Renovated Mixed-Use
For Sale
Contact for pricing
826 S Main St, Joplin, MO 64801
Downtown property combines nine apartments with a separately accessed commercial space under C-2 zoning.
Property Size6,750 SF
Price / SF$137.04
Days on Market143
Property Features for 826 S Main St
General Information
Standard status
Active
Size
6,750 SF
Property subtype
Mixed Use, Multifamily, Office
Zoning
C-2
Units
Multifamily Units
9
Office Units
1
Additional Details
Floor
Ground
Building Details
Year Built
1891
Buildings
1
Stories
3
Units
9
Tenancy
Multi
Listing Agency:
Glenn Gibson Commercial Real Estate
(417) 359-6868
Listed By:
Luke Gibson · License #MO 2006022522
Source:
Crexi
Added: Apr 10
Changed: Aug 29
Last Checked: Aug 29 at 8:48PM
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 Glenn Gibson Commercial Real Estate
Investment Insights
Based on property information with market context.
This renovated mixed-use property contains 6,750 square feet in a downtown Joplin building. The upper floors include nine market-rate apartments with hardwood flooring, high ceilings, and efficient layouts. Residents access the second and third levels through a private entrance separate from the commercial area.
The ground floor is configured as an independent commercial space with its own entrance and 1.5 bathrooms. The space can accommodate office, retail, or owner-occupied business use as supported by the existing layout. The property is positioned in downtown Joplin near shopping, restaurants, and other downtown amenities.
The ground floor is configured as an independent commercial space with its own entrance and 1.5 bathrooms. The space can accommodate office, retail, or owner-occupied business use as supported by the existing layout. The property is positioned in downtown Joplin near shopping, restaurants, and other downtown amenities.
Key Highlights
- 6,750‑square‑foot mixed‑use building in downtown Joplin
- Nine market‑rate apartments on the second and third floors
- Separate private entrance serves the residential levels
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
$60,548
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
6.55%
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%
$1,210,960
$1.2M
Cap Rate 7%
$864,971
$865.0K
Cap Rate 9%
$672,756
$672.8K
Market Conditions
NOI Build-Up for 6,750 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
$105.3K $15.60/SF
− Vacancy
−$8.4K −$1.25/SF
EGI
$96.9K $14.35/SF
− OpEx
−$36.3K −$5.38/SF
NOI
$60.5K $8.97/SF
Area
Jasper County, MO
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,210,960
Cap Rate 7%
$864,971
Cap Rate 9%
$672,756
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $88,938 @ 7.0% cap · market cap 9.61%
Second Best
Mixed Use
$865.0K
$756.9K – $1.01M
NOI $60,548 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,560 @ 7.0% cap · market cap 15.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
9
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,480
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown property combines nine apartments with a separately accessed commercial space under C-2 zoning.
Where is this mixed-use property located?
The property is located at 826 S Main St Joplin, MO.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 6,750‑square‑foot mixed‑use building in downtown Joplin; Nine market‑rate apartments on the second and third floors; Separate private entrance serves the residential levels
