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    108 W Hammond Street Red Oak, IA 51566

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    For Sale
    $320,000

    COMMERCIAL - Other - Red Oak, IA

    Property size:
    3,200 SF
    Lot size:
    0.18 Acres
    Added:
    Jan 15, 2026
    Days on Market:
    90
    Last Refresh:
    Apr 15 at 10:06 pm

    Property Features for 108 W Hammond Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Standard status
    Active
    APN
    600628159026000
    Size
    3,200 SF
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    ORIG PLAT LT 5 & LT 6 (EX W 20') BLK 25
    Tax Annual Amount
    4178

    Utilities

    Heating system
    Radiant
    Water source
    Public

    Building Details

    Year built
    2018
    Number of units
    1
    Building materials
    Metal Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Timothy Fridolph

    Listing agent Timothy Fridolph

    Listing office Rubey Realty 1000 N Broadway Ste 1, Red Oak, IA

    Listing date Jan 15, 2026

    MLS# 6334866

    Copyright © 2026 NoCoast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Modern Commercial Building in Red Oak

    Built in 2018, this commercial building offers 3,200 square feet of clean, modern, and highly functional space. It is ideal for contractors, trades, light industrial use, storage, or owner-user operations. Zoned Commercial, the property is designed with durability, efficiency, and long-term flexibility in mind. The clear-span steel-frame structure features 15-foot sidewalls and a reinforced grade-beam foundation system with 2-foot on-center grade beams that are 5 feet in-ground. A 6-inch insulated concrete slab with radiant in-floor heat provides structural integrity and efficient, even heating. Access and functionality are enhanced by two 16-foot by 12-foot insulated overhead doors with commercial operators, three walk doors, and on-site parking. The fully insulated interior is supported by 200-amp electrical service and is plumbed for three bathrooms (one completed), along with a shower in the utility room. Exterior features include metal siding, 8-inch gutters and downspouts routed to the street, and a 90-mph wind rating. Located in Red Oak, Iowa, this well-maintained property on 0.18 acres offers a combination of modern construction, infrastructure, and commercial zoning, making it suitable for an owner-user or investor seeking a low-maintenance, adaptable commercial asset.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Hy-Vee Catering — 1605 N Broadway St, Red Oak, IA 51566

    Location Insight

    • Map
    • Local Demand
    City
    Red Oak
    County
    Montgomery
    State
    Iowa
    Longitude
    -95.232403
    Latitude
    41.010409

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    FAQs

    What type of property is this?
    Flex space - Modern, adaptable commercial building built in 2018, ideal for various uses.
    Where is this flex space located?
    The property is located at 108 W Hammond Street Red Oak, IA.
    What is the asking price?
    The asking price for this property is $320,000.
    What are key features of this property?
    This property features: Modern 3,200 SF commercial building built in 2018, suitable for various uses.; Durable, efficient design with clear‑span steel‑frame and 6" insulated concrete slab with radiant in‑floor heat.; Excellent access with (2) 16' * 12' insulated overhead doors with commercial operators.
    (712) 370-2141
    We can help!
    Listing Contact
    Timothy Fridolph
    Learn More
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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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