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    Property profile & analytics

    3501 Leonard Rd Saint Joseph, MO 64503-1756

    • Industrial properties
    • 137,080 SF
    • 8.73 lot acres
    OFF-MARKET
    Value Estimations
    $3,720,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-1611182
    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

    • Gray Manufacturing / Industrial Manufacturer / Production Facility

    Property Details for 3501 Leonard Rd

    Year built
    1960
    Lot size
    8.73 lot acres
    Property size
    137,080 SF
    Property type
    Industrial properties
    APN
    06-7.0-25-002-000-003.000
    APU
    67025002000003000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,257,000
      Market price range: $861k - $5.06M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,050,000
      Current use
      WAREHOUSE, STORAGE
      $4,855,000
      Change: +59% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Joseph
    County
    Buchanan
    State
    Missouri
    Longitude
    -94.7859
    Latitude
    39.7328
    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
    2020
    $70,441
    $23,940
    $956,060
    $980,000
    -
    $74,800
    $2,987,680
    $3,062,480

    Comparable in this City

    • Value Estimation
      $535,000
      34,600 SF

      4811 Easton Rd

      INDUSTRIAL (GENERAL) • 34,600 SF
      4811 Easton Rd, Saint Joseph, MO 64503-4715
      View Details
    • Value Estimation
      $1,030,000
      105,896 SF

      4515 Easton Rd

      INDUSTRIAL (GENERAL) • 105,896 SF
      4515 Easton Rd, Saint Joseph, MO 64503-1759
      View Details
    • Value Estimation by Request
      3,608 SF

      922 9th St

      INDUSTRIAL (GENERAL) • 3,608 SF
      922 9th St, Saint Joseph, MO 64503
      View Details
    • Value Estimation
      $845,000
      40,650 SF

      3220 Leonard Rd

      INDUSTRIAL (GENERAL) • 40,650 SF
      3220 Leonard Rd, Saint Joseph, MO 64503-1737
      View Details
    • Value Estimation by Request
      680 SF

      2811 11th St Rd

      INDUSTRIAL (GENERAL) • 680 SF
      2811 11th St Rd, Saint Joseph, MO 64503-3461
      View Details
    • Value Estimation by Request
      13,600 SF

      3314 Leonard Rd

      INDUSTRIAL (GENERAL) • 13,600 SF
      3314 Leonard Rd, Saint Joseph, MO 64503-1739
      View Details

    Similar Nearby for Sale

    • $1,375,000
      32,000 SF

      Warehouse and Retail Space Available

      32,000 SF warehouse plus 15,000 SF retail space.
      3414 S 22Nd St, St Joseph, MO 64503
      View Details
    • Contact for pricing

      Climate Controlled Warehouse with Retail

      32,000 SF climate controlled warehouse with 15,000 SF retail.
      3414 S 22Nd St, St Joseph, MO 64503
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    • Contact for pricing
      0.09 Acres

      Residential Lot in St Joseph

      City lot in residential zone, ready for new construction.
      2832 S 19Th St, St Joseph, MO 64503
      View Details
    • $209,900
      2,353 SF

      Office Building For Sale/Lease

      Office building with private offices and common areas available.
      2414 S Leonard Rd, St Joseph, MO 64503
      View Details
    • Contact for pricing
      0.14 Acres

      Corner City Lot in St. Joseph

      Residential lot with potential in St. Joseph, Missouri.
      2429 S 15Th St, St Joseph, MO 64503
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Outparcel in St. Joseph

      0.98-acre outparcel in Walmart shadow center, St. Joseph, MO.
      3302 S Belt Hwy, Saint Joseph, MO 64503
      View Details
    • $12 SF/Yr
      79,715 SF

      Office Space on South Belt

      1596 SF office space in St Joseph, Missouri.
      2911 S Belt Hwy, St Joseph, MO 64503
      View Details
    • $25 SF/Yr
      79,715 SF

      Executive Suites on Belt Highway

      Executive suites available for lease on the Belt Highway.
      2911 S Belt Hwy, St Joseph, MO 64503
      View Details
    • $13 SF/Yr
      79,715 SF

      Retail Space on South Belt

      Retail suite in strip center with ample parking.
      2911 B Belt Hwy, St Joseph, MO 64503
      View Details
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    3501 Leonard Rd
    Saint Joseph, MO 64503-1756
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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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