Building Details

Year Built 1891

Buildings 1

Stories 3

Units 9

Tenancy Multi

Listing Agency: Glenn Gibson Commercial Real Estate

Listed By: Luke Gibson · License #MO 2006022522 Show Phone

Source: Crexi

Added: Apr 10 Changed: Oct 13 Last Checked: Oct 14 at 10:33PM

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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

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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.

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 / Yr

$60,548

Cap Rate

6.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,210,960 $1.2M

Cap Rate 7%

$864,971 $865.0K

Cap Rate 9%

$672,756 $672.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,750 SF

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 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 (±1% cap)

NOI $88,938 @ 7.0% cap · market cap 9.61%

Second Best

Mixed Use

$865.0K

$756.9K – $1.01M (±1% cap)

NOI $60,548 @ 7.0% cap · market cap 6.55%

Theoretical Best

Office A

$2.04M

$1.78M – $2.38M (±1% cap)

NOI $142,560 @ 7.0% cap · market cap 15.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Dental Office Parking Lot & Garage Grocery & Convenience Store Storage Facility Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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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