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    2608 Belt Hwy Saint Joseph, MO 64506
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    2608 Belt Hwy Saint Joseph, MO 64506

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    • Office Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Frontline Wholesale / Auto Repair Shop
    • Pro Cellular LLC / Mobile Phone Store / Electronics & Wireless Store

    Property Details for 2608 Belt Hwy

    Property type
    Office Spaces

    Description

    This exceptional 1,200 square foot office space, located at 2608 N Belt Highway in St. Joseph, Missouri, presents a fantastic opportunity for a single tenant. Situated on a 1.01-acre lot, this single-story building boasts a convenient C-3 zoning classification. The property features abundant parking with 29 spaces available for employees and clients. The address is easily accessible from N Belt Highway, offering excellent visibility and convenient access for commuters. The interior comprises a single suite, ideal for a business seeking a self-contained workspace. The property's APN is 06-2.0-03-001-001-036.000. This well-maintained building offers a comfortable and efficient work environment. The space will be available for occupancy beginning December 1st, 2024. Its prime location on the north Belt Highway ensures high visibility and easy access for clients and employees. This is an excellent opportunity to secure a well-located, spacious office in a thriving area of St. Joseph. The property's ample parking ensures convenient parking for all occupants and visitors. Don't miss this chance to establish your business in this desirable location. The zip code is 64506.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Saint Joseph
    County
    Buchanan
    State
    Missouri
    Longitude
    -94.8095
    Latitude
    39.7905

    Comparable in this City

    • Value Estimation
      $520,000
      7,368 SF

      2335 Belt Hwy

      OFFICE (GENERAL) • 7,368 SF
      2335 Belt Hwy, Saint Joseph, MO 64506-5040
      View Details
    • Value Estimation by Request
      7,350 SF

      2401 Belt Hwy

      OFFICE (GENERAL) • 7,350 SF
      2401 Belt Hwy, Saint Joseph, MO 64506-2209
      View Details
    • Value Estimation by Request
      2,424 SF

      2620 Belt Hwy

      OFFICE (GENERAL) • 2,424 SF
      2620 Belt Hwy, Saint Joseph, MO 64506-2003
      View Details
    • Value Estimation by Request
      3,526 SF

      1702 Buckingham St

      OFFICE (GENERAL) • 3,526 SF
      1702 Buckingham St, Saint Joseph, MO 64506-3605
      View Details
    • Value Estimation by Request
      3,890 SF

      1322 36th St

      OFFICE (GENERAL) • 3,890 SF
      1322 36th St, Saint Joseph, MO 64506-2365
      View Details
    • Value Estimation by Request
      1,820 SF

      1025 22nd St

      OFFICE (GENERAL) • 1,820 SF
      1025 22nd St, Saint Joseph, MO 64506-2607
      View Details

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      Medical Office Building For Sale

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    Similar Nearby for Lease

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    Saint Joseph, MO 64506
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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