2914 32Nd StJoplin, MO 64804

Property Details for 2914 32Nd St

Year built

1985

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

5.45 AC

Property size (Sq ft)

22,153 SF

Property type

Retail space

APN

05-6.0-24-001-001-002.000

APU

56024001001002000

Description

This exceptional investment opportunity presents a 34,630 square foot shopping center situated on a highly visible 5.45-acre lot at the intersection of 32nd Street and Rangeline Road in Joplin, Missouri. The property boasts three existing buildings totaling 34,630 square feet of retail space, currently at 51% occupancy, with a gross lease structure and 31 individual units. Building A comprises 21,430 square feet, Building B encompasses 8,000 square feet, and Building C offers 5,200 square feet. Additionally, a vacant one-acre lot provides significant potential for future development or expansion. Built in 1985, this single-story property offers excellent access and frontage on both 32nd Street and Rangeline Road, a high-traffic area. The asking price is $4,950,000, translating to $142.94 per square foot. The seller is open to subdividing parcels, offering flexibility for various development scenarios. This multi-tenant retail center presents a compelling opportunity for investors and developers seeking a prime location in a busy Joplin commercial corridor. The property is zoned for retail use and offers significant upside potential. This is a rare opportunity to acquire a well-located, established shopping center with the added benefit of developable land.

• CAP approach

  CAP return

  Valuation

  6%

  $2,838,743

  6.5%

  $2,620,378

  7%

  $2,433,208

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,993,202

  Geo Method

  $3,993,202

• Alternative Use

  Use

  Valuation

  Residential

  $2,210,387

  Hospitality

  $2,024,703

  Educational

  $1,684,529

  Medical

  $1,742,462

  Retail

  $2,620,378

Location Insight

City

Joplin

County

Newton

State

Missouri

Latitude

37.054

Longitude

-94.4798

CBSA code

27900

CBSA name

JOPLIN, MO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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