3323 32Nd StJoplin, MO 64804

Property Details for 3323 32Nd St

Year built

2001

Lot size

2.63 AC

Property size (Sq ft)

7,688 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

20-4.0-18-0-0-47.0

APU

20401800470

Description

This exceptional value-add opportunity presents a 7,500 square foot multi-tenant shopping center in Joplin, Missouri. Located at 3323 E 32nd St, this Class B property sits on a 2.64-acre lot (APN 20401800000047000) and is zoned for commercial use. Currently, the center has five units with a 40% occupancy rate, presenting a significant redevelopment opportunity for an investor. The property boasts high visibility, situated adjacent to a new 90,000 square foot Menard's store opening in 2023, and benefits from excellent traffic counts, with 32,000 vehicles per day on Rangeline and 16,000 vehicles per day on 32nd Street. Individual unit sizes range from 1,500 to 4,500 square feet, offering flexibility for various retail uses. The asking price is $2,000,000, translating to $266.67 per square foot. This property is ideal for an owner-occupied user seeking to establish a presence in a high-traffic area or an investor looking to capitalize on the redevelopment potential and strong location. The property's strategic location and proximity to a major retailer make it a compelling investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $985,160

  6.5%

  $909,379

  7%

  $844,423

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,385,805

  Geo Method

  $1,385,805

• Alternative Use

  Use

  Valuation

  Residential

  $767,095

  Hospitality

  $702,655

  Educational

  $584,601

  Medical

  $604,706

  Retail

  $909,379

Location Insight

City

Joplin

County

Jasper

State

Missouri

Latitude

37.0556

Longitude

-94.4723

CBSA code

27900

CBSA name

JOPLIN, MO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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