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    Property profile & analytics

    205 Main St Joplin, MO 64801

    • Warehouses
    • 5,775 SF
    • 0.28 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-1402566
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 205 Main St

    Year built
    1940
    Lot size
    0.28 lot acres
    Property size
    5,775 SF
    Property type
    Warehouses
    APN
    19-2.0-3-10-32-16.0
    APU
    192031032160

    Description

    This exceptional redevelopment opportunity presents a unique chance to revitalize the historic Joplin Union Depot, a 22,640-square-foot mixed-use building situated on 3.6 acres in downtown Joplin, Missouri. Originally opened in 1911 and designed by renowned Kansas City architect Louis Curtiss, this reinforced concrete structure boasts a rich history, having served as a vital transportation hub for the Kansas City Southern, Missouri-Kansas-Texas, and Santa Fe Railroads. The building, vacant since 1969, is listed on the National Historic Register (1973) and is eligible for State and/or Federal Historic tax credits, offering significant financial incentives for the right developer. The expansive interior features a two-story waiting room, a Rose Room Restaurant, a Union Depot Coffee Shop, restrooms, ticket booths, offices, a newsstand, separate smoking and retiring rooms, a baggage and freight area, a second-floor greenhouse and fish tank, and a basement heating plant. This prime location at 205 N Main St, Joplin, MO 64801, presents a compelling investment opportunity to restore a significant piece of Joplin's heritage and create a vibrant, modern space. The property's size and historical significance offer immense potential for a variety of adaptive reuse projects. The Missouri Department of Natural Resources, State Historic Preservation Office, currently owns the property and seeks a developer committed to its rehabilitation. This is a rare chance to acquire a landmark building with substantial historical value and significant redevelopment potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $210,000
      Market price range: $154k - $455k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $215,000
      Current use
      RETAIL STORES
      $320,000
      Change: +49% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Joplin
    County
    Jasper
    State
    Missouri
    Longitude
    -94.5128
    Latitude
    37.0918
    CBSA code
    27900
    CBSA name
    JOPLIN, MO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,441
    $11,520
    $17,460
    $28,980
    -
    $36,000
    $54,570
    $90,570

    Comparable in this City

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      1120 Byers Ave

      WAREHOUSE, STORAGE • 5,220 SF
      1120 Byers Ave, Joplin, MO 64801-4312
      View Details
    • Value Estimation
      $245,000
      3,113 SF

      614 Kentucky 310th Commercial

      WAREHOUSE, STORAGE • 3,113 SF
      614 Kentucky 310th Commercial, Joplin, MO 64801
      View Details
    • Value Estimation
      $260,000
      816 SF

      1202 Jasper St

      WAREHOUSE, STORAGE • 816 SF
      1202 Jasper St, Joplin, MO 64801
      View Details
    • Value Estimation
      $275,000
      5,040 SF

      1402 Missouri Ave

      WAREHOUSE, STORAGE • 5,040 SF
      1402 Missouri Ave, Joplin, MO 64801-4963
      View Details
    • Value Estimation
      $245,000
      3,840 SF

      4030 7th St

      WAREHOUSE, STORAGE • 3,840 SF
      4030 7th St, Joplin, MO 64801-9185
      View Details
    • Value Estimation
      $265,000
      2,000 SF

      1700 B St

      WAREHOUSE, STORAGE • 2,000 SF
      1700 B St, Joplin, MO 64801-3108
      View Details

    Similar Nearby for Sale

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      Downtown Joplin Commercial Investment Opportunity

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      Versatile Mixed-Use Commercial Property

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    • $873,562
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      Adaptable Commercial Property in Joplin

      Versatile commercial space suitable for retail, office, and warehouse use.
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    • $265,000
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      Joplin Industrial Facility For Sale

      9,350+ sq ft industrial facility in downtown Joplin.
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      Joplin Commercial Property with Warehouse

      East 7th commercial property with shop/warehouse and office space.
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    Similar Nearby for Lease

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    • $9,500 /Mo
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      Renovated Commercial Property with Smart Features

      Fully renovated commercial property with modern technology, comfort, and versatility.
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    • $6 SF/Yr
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      Joplin Warehouse/Office Space

      5,031 sq ft, high-traffic location
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    • $3,000 /Mo
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      Renovated Commercial Space with Smart Features

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    • $1,250 /Mo
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      Joplin Commercial Space For Rent

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    • $1,600 /Mo
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      Downtown Joplin Office Space Available

      Renovated office space with modern amenities in downtown Joplin.
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      View Details
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    205 Main St
    Joplin, MO 64801
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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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