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    2605 St. Joseph Ave Saint Joseph, MO 64505
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    2605 St. Joseph Ave Saint Joseph, MO 64505

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    • Lifestyle centers
    • 7,200 SF
    • 0.40 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 2605 St. Joseph Ave

    Year built
    1960
    Lot size
    0.40 lot acres
    Property size
    7,200 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 7,200 square foot commercial property, located at 2605 St. Joseph Avenue in Saint Joseph, Missouri, presents a unique investment opportunity. The building, constructed in 1960, sits on a 0.4-acre lot and boasts a flexible layout suitable for retail, office, or industrial uses. Currently vacant, this space offers significant potential for a variety of businesses. The main floor comprises 7,000 square feet, complemented by a 200 square foot mezzanine. Key features include large plate glass windows, high ceilings, and ample display space, ideal for showcasing products or services. The property's prime corner location at the intersection of St. Joseph Avenue and Fifth Avenue ensures high visibility and accessibility. The building is not situated in a floodway or flood zone, providing peace of mind. Furthermore, there's an option to purchase adjacent property, expanding future development possibilities. Priced at $350,000, with a price per square foot of $48.61, this property represents a compelling value in the Saint Joseph market. This owner/user opportunity is ready for immediate occupancy.

    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
    -94.8492
    Latitude
    39.7871

    Comparable in this City

    • Value Estimation by Request
      8,500 SF

      1515 St Joseph Ave

      Lifestyle centers • 8,500 SF
      1515 St Joseph Ave, Saint Joseph, MO 64505
      View Details
    • Value Estimation by Request

      2114 St Joseph Ave

      Individual retail properties
      2114 St Joseph Ave, Saint Joseph, MO 64505
      View Details
    • Value Estimation by Request
      25,652 SF

      1515 St Joseph Ave

      Retail properties & Spaces • 25,652 SF
      1515 St Joseph Ave, Saint Joseph, MO 64505
      View Details
    • Value Estimation by Request
      0.23 Acres

      2005 Saint Joseph Ave Ave

      Individual retail properties • 0.23 Acres
      2005 Saint Joseph Ave Ave, Saint Joseph, MO 64505
      View Details
    • Value Estimation by Request
      0.08 Acres

      2112 St Joseph Ave

      Retail properties & Spaces • 0.08 Acres
      2112 St Joseph Ave, Saint Joseph, MO 64505
      View Details
    • Value Estimation by Request
      979 SF

      1804 Hilltop Dr

      NURSERY, GREENHOUSE, FLORIST • 979 SF
      1804 Hilltop Dr, Country Club, MO 64505-1001
      View Details

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    Similar Nearby for Lease

    • $12 SF/Yr
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      St. Joseph Avenue Commercial Space

      8500 SF commercial space suitable for various businesses.
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    Saint Joseph, MO 64505
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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.

    More about this property
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