1005 Garfield AveSaint Joseph, MO 64503

Property Details for 1005 Garfield Ave

Year built

1930

Lot size

1.34 AC

Property size (Sq ft)

9,776 SF

Zone code

CITY

Property type

Retail space

APN

06-4.0-20-001-002-063.000

APU

64020001002063000

Description

This exceptional investment opportunity presents a substantial 1.34-acre M-3 zoned property in St. Joseph, Missouri, at 1005 Garfield Avenue, zip code 64503. The property, built in 1930, is a two-story warehouse currently operating as a profitable auto repair shop with a tenant (requiring three months' notice to vacate). The main building features a large office area and several additional upstairs spaces offering versatile usage potential. A significant highlight is the inclusion of an apartment situated above the office. The property also boasts a rear loading dock area (roof requiring repair or demolition), a fenced-in rear lot (requiring some fence repair), and ample indoor and outdoor space. The auto repair garage includes lifts that may remain or be removed at the buyer's discretion. Remnants of the property's previous use as Garfield Lumber remain on-site and can be removed or retained by the new owner. This property offers significant potential for various commercial uses, given its size, zoning, and existing infrastructure. The asking price is $250,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,693,762

  6.5%

  $2,486,550

  7%

  $2,308,939

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,762,179

  Geo Method

  $1,762,179

• Alternative Use

  Use

  Valuation

  Residential

  $2,097,498

  Hospitality

  $1,921,297

  Educational

  $1,598,496

  Medical

  $1,653,471

  Retail

  $2,486,550

Location Insight

City

Saint Joseph

County

Buchanan

State

Missouri

Latitude

39.7427

Longitude

-94.8476

CBSA code

41140

CBSA name

ST. JOSEPH, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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