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    Property profile & analytics

    2915 24th St Joplin, MO 64804-3227

    • Turn key restaurants
    • 5,027 SF
    • 0.92 lot acres
    OFF-MARKET
    Value Estimations
    $280,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-1309773
    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

    • RibCrib BBQ / Barbecue Restaurant

    Property Details for 2915 24th St

    Year built
    2004
    Lot size
    0.92 lot acres
    Property size
    5,027 SF
    Property type
    Turn key restaurants
    APN
    19-6.0-13-10-13-16.0
    APU
    1960131013160

    Description

    This exceptional investment opportunity presents a fee-simple, single-tenant net-leased restaurant property in Joplin, Missouri. The 5,027 square foot building, situated on a 0.92-acre lot at 2915 E 24th St, enjoys a prime location near the intersection of E 24th Street and S Range Line Road, providing excellent visibility and access to Interstate 44. The property has been continuously occupied by RibCrib, store #35 of approximately 60 locations, since its construction in 2004. A recent lease extension through July 31, 2033, secures a remaining lease term of approximately 8.7 years, with fixed 2.0% annual rent increases. The absolute NNN lease structure minimizes landlord responsibilities, offering a passive income stream. The property boasts 78 parking spaces and underwent renovations in 2024. The asking price is $1,457,142, representing a 7.00% cap rate and a price per square foot of $289.86. The property features a corporate guarantee and a one (1) five-year lease option. This investment offers a strong, recession-resistant tenant with a proven track record in a high-traffic retail area, providing a secure and profitable opportunity. The property's Net Operating Income (NOI) is $102,000. The Jasper County property (APN: 19-6.0-13-10-13-16.0) offers a compelling combination of stability, growth potential, and passive income generation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $320,000
      Market price range: $265k - $542k

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

    Location Insight

    • Map
    • Local Demand
    City
    Joplin
    County
    Jasper
    State
    Missouri
    Longitude
    -94.4798
    Latitude
    37.0631
    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
    $7,942
    $27,220
    $149,810
    $177,030
    -
    $85,070
    $468,150
    $553,220

    Comparable in this City

    • Value Estimation
      $275,000
      1,044 SF

      Joplin, MO 64804

      RESTAURANT • 1,044 SF
      Joplin, MO 64804
      View Details
    • Value Estimation
      $310,000
      2,940 SF

      1935 Range Line Rd

      RESTAURANT • 2,940 SF
      1935 Range Line Rd, Joplin, MO 64804-3238
      View Details
    • Value Estimation
      $315,000
      3,155 SF

      1901 Range Line Rd

      RESTAURANT • 3,155 SF
      1901 Range Line Rd, Joplin, MO 64804-3238
      View Details
    • Value Estimation
      $245,000
      4,054 SF

      2020 32nd St

      RESTAURANT • 4,054 SF
      2020 32nd St, Joplin, MO 64804-4201
      View Details
    • Value Estimation
      $275,000
      2,960 SF

      1220 15th St

      RESTAURANT • 2,960 SF
      1220 15th St, Joplin, MO 64804-0811
      View Details
    • Value Estimation
      $245,000
      3,278 SF

      Joplin, MO 64804

      RESTAURANT • 3,278 SF
      Joplin, MO 64804
      View Details

    Similar Nearby for Sale

    • $550,000
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      Versatile Commercial Property in Joplin

      5,040 SF property in high-traffic location, ideal for investors.
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      Joplin BBQ Restaurant - Turnkey Sale

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      Joplin BBQ Restaurant Opportunity

      Profitable, renowned BBQ restaurant for sale in Joplin, Missouri.
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    Similar Nearby for Lease

    • $25 SF/Yr
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      View Details
    • $16 SF/Yr
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      Commercial Space in Joplin, Missouri

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    • $1,500 /Mo
      1,475 SF

      Office/Retail Space in Joplin, MO

      Recently built-out office/retail space with convenient parking and included furniture.
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    • $1,800 /Mo
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      Professional Office Space For Rent

      Class A office space with modern finishes and efficient layout.
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    • New
      $3,900 /Mo
      Pending

      Joplin Commercial Space For Rent

      11,000 SF retail/office space with parking and high traffic.
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      View Details
    • $1,441 /Mo
      1,441 SF

      Joplin Office Space For Rent

      Corner office space in Joplin's Medical District, customizable and visible.
      1531 W 32Nd St, Joplin, MO 64804
      View Details
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    2915 24th St
    Joplin, MO 64804-3227
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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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