Commercial Real Estate Market in St Joseph, MO
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
286 active listings and 2,380 off-market properties in St Joseph, MO. Commercial property asks $232/SF to buy and $15.47/SF/Yr to lease.
Market Trends
Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in St Joseph, MO runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in St Joseph, MO runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in St Joseph, MO runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in St Joseph, MO runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Tools
Lease vs Buy Breakeven
At $15.47/SF/Yr lease vs $232/SF buy → buying wins if held > 3.7 years.
At a 6.7% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Frequently Asked Questions
What is the average price per square foot for commercial property in St Joseph?
Commercial property in St Joseph, MO asks an average of $232 per square foot.
How much does it cost to lease commercial space in St Joseph?
Asking lease rates in St Joseph, MO average $15.47 per square foot per year.
Is it cheaper to lease or buy commercial space in St Joseph?
Buying beats leasing in St Joseph, MO if the property is held longer than 3.7 years, comparing $15.47/SF/Yr asking rent with $232/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's St Joseph market data come from?
Realmo compiles St Joseph, MO figures from 228 active sale listings, 58 active lease listings, 2,380 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 228 active for-sale and 58 active for-lease listings in St Joseph, MO. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
