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    1219 Avenue H Fort Madison, IA 52627

    View on Map
    For Sale
    Under Contract
    $210,000

    COMMERCIAL - Other - Fort Madison, IA

    Lot size:
    0.48 Acres
    Added:
    Feb 19, 2026
    Days on Market:
    47
    Last Refresh:
    Apr 7 at 11:06 pm

    Property Features for 1219 Avenue H

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Window features
    Insulated Windows
    Accessibility
    Accessible Approach with Ramp
    Appliances
    Electric Water Heater
    Standard status
    Active Under Contract
    APN
    024715044260170
    Lot size
    0.48 Acres

    Taxes and HOA fees

    Tax Year
    2021
    Tax Description
    #61 1219 AVE H LOT 76 #62 1215 AVE H LOT 77 #63 1211 AVE H LOT 78
    Tax Annual Amount
    5177

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1950
    Number of units
    2
    Flooring type
    Carpet, Tile
    Building materials
    Block, Frame
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Corey Fraise
    Corey Fraise

    Listing agent Corey Fraise License #***

    Listing office Fraise Auction & Real Estate 2311 Avenue L Ste 1, Fort Madison, IA

    Listing date Feb 19, 2026

    MLS# 6335720

    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

    Remodeled Commercial Building on Highway

    This multi-purpose commercial building is located in Fort Madison, Iowa, and offers visibility on Highway 61. The property is zoned commercial and situated on three city lots, totaling 0.48 acres. Remodeled since 2021, the building features interior and mechanical updates, including a new HVAC system and water heater, updated electrical and plumbing, new floor coverings, and a functional layout. The building is configured with professional office space, including three offices, a reception and waiting area, a conference room, a kitchen with laundry, and a bathroom. There is also a separate retail/showroom area with its own bathroom and warehouse/storage space. Exterior improvements include a new roof, a new asphalt parking lot, and a freshly painted exterior. The building features two separate entrances and could be divided for multi-tenant income potential. The property is suitable for office, retail, service, or investment use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Madison
    County
    Lee
    State
    Iowa
    Longitude
    -91.37
    Latitude
    40.6441

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    FAQs

    What type of property is this?
    Mixed-use property - Multi-purpose commercial building with high visibility and versatile layout.
    Where is this mixed-use property located?
    The property is located at 1219 Avenue H Fort Madison, IA.
    What is the asking price?
    The asking price for this property is $210,000.
    What are key features of this property?
    This property features: High visibility location on Hwy. 61 with commercial zoning and signage.; Extensive remodeling since 2021 including new HVAC, water heater, electrical, plumbing, and floor coverings.; Versatile layout suitable for office, retail, service, or investment use with multi‑tenant income potential.
    (319) 470-0115
    We can help!
    Listing Contact
    Corey Fraise
    Corey Fraise
    Real Estate License ID: ***
    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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