Multi-Tenant Center Near
For Sale
Contact for pricing
3323 E 32nd St, Joplin, MO 64804
7,500 SF multi-tenant center with available spaces.
Property Size7,500 SF
Lot Size2.64 Acres
Price / SF$266.67
Days on Market1761
Property Features for 3323 E 32nd St
General Information
Standard status
Active
Size
7,500 SF
Class
B
Lot size
2.64 Acres
Property subtype
Retail
Zoning
Commercial
Investment Type
Value Add
Building Details
Buildings
1
Units
5
Tenancy
Multi
Listing Agency:
Woodsonia Real Estate Group
Listed By:
Mitch Hohlen · License #20201358
Source:
Crexi
Added: Nov 11, 2021
Changed: Aug 13
Last Checked: Sep 7 at 5:53AM
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 Woodsonia Real Estate Group
Investment Insights
Based on property information with market context.
This 7,500 square foot multi-tenant center offers available spaces ranging from 1,500 to 4,500 square feet. The property is situated on a 2.64 acre lot. It is positioned adjacent to a 90,000 square foot Menard's store, scheduled to open in 2023. The location benefits from traffic counts of 32,000 vehicles per day on Rangeline and 16,000 vehicles per day on 32nd Street.
Key Highlights
- Adjacent to a new 90,000 SF Menard's store opening in 2023
- High traffic location: 32,000 VPD on Rangeline
- Multi‑tenant center with 1,500 - 4,500 SF available
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
$70,762
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
3.54%
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%
$1,415,240
$1.4M
Cap Rate 7%
$1,010,886
$1.0M
Cap Rate 9%
$786,244
$786.2K
Market Conditions
NOI Build-Up for 7,500 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 $14.04/SF
− Vacancy
−$4.2K −$0.56/SF
EGI
$101.1K $13.48/SF
− OpEx
−$30.3K −$4.04/SF
NOI
$70.8K $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%
$1,415,240
Cap Rate 7%
$1,010,886
Cap Rate 9%
$786,244
Alternative Uses
Best Use
Retail
$1.01M
$884.5K – $1.18M
NOI $70,762 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,400 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
29k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Casey's General Store
Shops & Services
20,998 visits/mo
0.4 miles
Dollar General
Shops & Services
8,104 visits/mo
0.4 miles
Demographics for 64804, MO
38,078
Population
16,844
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
91%
High-School Grad
91.4 sq mi
ZIP Area
417
Density / Sq Mi
$62,081
Median Household Income
$34,780
Median Earnings
$886
Median Rent
$171,500
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.
Frequently Asked Questions
What type of property is this?
Shopping center - 7,500 SF multi-tenant center with available spaces.
Where is this shopping center located?
The property is located at 3323 E 32nd St Joplin, MO.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Adjacent to a new 90,000 SF Menard's store opening in 2023; High traffic location: 32,000 VPD on Rangeline; Multi‑tenant center with 1,500 - 4,500 SF available
