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    Property profile & analytics

    2324 Locust St Saint Joseph, MO 64501-3123

    • Warehouses
    • 14,916 SF
    OFF-MARKET
    Last Sale
    Mar 18, 2022
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-1832012
    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

    • Weaver Overhead Door / Garage Door Supplier

    Property Details for 2324 Locust St

    Year built
    1950
    Property size
    14,916 SF
    Zone code
    CITY
    Property type
    Warehouses
    APN
    06-5.0-16-001-004-032.000
    APU
    65016001004032000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $327,000
      Market price range: $266k - $698k

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Joseph
    County
    Buchanan
    State
    Missouri
    Longitude
    -94.832
    Latitude
    39.7613
    CBSA code
    41140
    CBSA name
    ST. JOSEPH, MO-KS 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
    $3,155
    $4,800
    $37,430
    $42,230
    -
    $15,000
    $116,960
    $131,960

    Comparable in this City

    • Value Estimation
      $240,000
      800 SF

      503 Renick St

      WAREHOUSE, STORAGE • 800 SF
      503 Renick St, Saint Joseph, MO 64501-3660
      View Details
    • Value Estimation
      $250,000
      960 SF

      602 Hickory St

      WAREHOUSE, STORAGE • 960 SF
      602 Hickory St, Saint Joseph, MO 64501
      View Details
    • Value Estimation
      $255,000
      1,600 SF

      201 Sylvanie St

      WAREHOUSE, STORAGE • 1,600 SF
      201 Sylvanie St, Saint Joseph, MO 64501
      View Details
    • Value Estimation
      $245,000
      10,416 SF

      2715 6th St

      WAREHOUSE, STORAGE • 10,416 SF
      2715 6th St, Saint Joseph, MO 64501-3722
      View Details
    • Value Estimation
      $245,000
      7,680 SF

      631 6th St

      WAREHOUSE, STORAGE • 7,680 SF
      631 6th St, Saint Joseph, MO 64501-2226
      View Details
    • Value Estimation
      $280,000
      9,450 SF

      116 7th St

      WAREHOUSE, STORAGE • 9,450 SF
      116 7th St, Saint Joseph, MO 64501-2230
      View Details

    Similar Nearby for Sale

    • $134,900

      Downtown St. Joseph Warehouse

      Historic Warehouse, 22,000 sq ft
      701 Olive St, Saint Joseph, MO 64501
      View Details
    • $124,995
      9,583 SF

      Historic St. Joseph Warehouse

      Spacious warehouse, seller financing available
      1005 10Th St, Saint Joseph, MO 64501
      View Details
    • Contact for pricing
      0.18 Acres

      St Joseph Commercial Space Available

      Commercial space suitable for light business, service, or storage.
      2843 Jules St, St Joseph, MO 64501
      View Details
    • $100,000

      Downtown St. Joseph Commercial Lot

      Prime corner lot, utilities included, ready to build!
      523 6Th St, Saint Joseph, MO 64501
      View Details
    • $495,000
      0.33 Acres

      Frederick Ave. Retail Investment

      Prime St. Joseph, MO storefront, 3 parcels.
      1603 Frederick Ave, Saint Joseph, MO 64501
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    • $219,000

      Downtown St. Joseph Restaurant Opportunity

      Prime location, large lot, endless potential.
      1317 Frederick Ave, Saint Joseph, MO 64501
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    Similar Nearby for Lease

    • $27 SF/Yr
      17,920 SF

      St. Joseph Industrial Warehouse

      17,920 SF Warehouse, M-2 Zoning
      2419 6Th St, Saint Joseph, MO 64501
      View Details
    • $37 SF/Yr
      9,850 SF

      Albemarle Street Warehouse Space

      St. Joseph, MO Industrial Warehouse - 9,850 SF
      615 Albemarle St, Saint Joseph, MO 64501
      View Details
    • $1,500 /Mo
      15,246 SF

      Downtown St. Joseph Commercial Building

      16,500 sq ft building perfect for office, event, or loft.
      305 S 8Th St, St Joseph, MO 64501
      View Details
    • $2,860 /Mo
      12,197 SF

      Retail and Warehouse Space Available

      Corner retail and warehouse space for lease in St. Joseph.
      716 S 8Th St, St Joseph, MO 64501
      View Details
    • $3,500 /Mo
      24,394 SF

      St Joseph Commercial Metal Building

      Metal building with fenced yard, suitable for storage or workshop.
      701 S 8Th St, St Joseph, MO 64501
      View Details
    • $3 SF/Yr
      117,176 SF

      St Joseph Commercial Flex Space

      Flex space available for lease in St Joseph, Missouri.
      615 Albemarle St, St Joseph, MO 64501
      View Details
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    2324 Locust St
    Saint Joseph, MO 64501-3123
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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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