Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Tiffin Commercial Condos For Sale Title is generated by Realmo AI

    128 Greenfield Dr, Tiffin, IA 52340

    View on Map
    Claim this Listing
    For Sale
    $209,900

    Commercial - Tiffin, IA

    Property size:
    1,560 SF
    Price / SF:
    $134/SF
    Added:
    Apr 2, 2026
    Days on Market:
    51
    Last Refresh:
    May 22 at 11:06 am

    Property Features for 128 Greenfield Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    M2
    Standard status
    Active
    APN
    0633458019
    Size
    1,560 SF

    Taxes and HOA fees

    Tax Annual Amount
    944.4

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    2023
    Flooring type
    Concrete
    Building materials
    Frame
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Karla Davis
    Karla Davis

    Listing agent Karla Davis

    Listing office GATEWAY ACCESS REALTY 1295 JORDAN ST, SUITE #1, North Liberty, IA

    Listing date Apr 2, 2026

    MLS# 202602198 Listing URL

    Copyright © 2026 Iowa City Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Immediate possession available
    • Drive‑through access with two 12'x14' garage doors
    • Located off I‑80 and Ireland Drive/Roberts Ferry Road in Tiffin
    • New construction (Year Built: 2023)
    • 1,560 sq. ft. unit
    • 16' sidewalls

    Overview

    New commercial condos are available for sale in Tiffin, Iowa, situated off I-80 and Ireland Drive/Roberts Ferry Road, offering immediate possession. Each unit provides 1,560 square feet of space and features drive-through access facilitated by two 12'x14' garage doors. The units have 16' sidewalls and include one restroom each. Gas heaters are installed for climate control. The CAM fee is $102 per month.

    Financial Insights

    Value Estimation Calculated for Warehouse

    Conservative
    $135.1K
    NOI $12,157 @ 9.00% cap · cautious / downside scenario
    Moderate
    $173.7K
    NOI $12,157 @ 7.00% cap · market / base-case scenario
    Aggressive
    $243.1K
    NOI $12,157 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Warehouse

    Component $ $/SF
    Gross rent $15.0k $9.60
    − Vacancy −$674 −$0.43
    EGI $14.3k $9.17
    − OpEx −$2.1k −$1.38
    NOI $12.2k $7.79
    1,560 SF · lease $9.60/SF/yr · vacancy 4.50% · expense 15.00%

    Alternative Use Scenarios

    Best Use
    Warehouse
    $173.7K
    $152.0K – $202.6K (±1% cap)
    NOI $12,157 @ 7.0% cap · market cap 5.79%
    Second Best
    Industrial
    $133.4K
    $116.7K – $155.6K (±1% cap)
    NOI $9,337 @ 7.0% cap · market cap 4.45%
    Theoretical Best
    Office A
    $338.9K
    $296.5K – $395.4K (±1% cap)
    NOI $23,722 @ 7.0% cap · market cap 11.30%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Hotel & Motel Auto Parts Store Auto Repair Shop Gym & Fitness Center Department Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Tiffin
    County
    Johnson
    State
    Iowa
    Longitude
    -91.663858
    Latitude
    41.689884

    Nearby Similar for Sale

    • $349,900

      Tiffin Commercial Condos For Sale

      New commercial condos with drive-through access in Tiffin, Iowa.
      128 Greenfield Dr, Tiffin, IA 52340
      View Details
    • $419,900

      Tiffin Commercial Condos For Sale

      New commercial condos with drive-through access in Tiffin, Iowa.
      128 Greenfield Dr, Tiffin, IA 52340
      View Details
    • $195,000

      Commercial Condos For Sale Tiffin

      New commercial condos for sale off I-80 in Tiffin.
      132 Greenfield Dr, Tiffin, IA 52340
      View Details
    • $195,000

      Tiffin Commercial Condos For Sale

      New commercial condos for sale in Tiffin, Iowa.
      132 Greenfield Dr, Tiffin, IA 52340
      View Details
    • $325,000

      Tiffin Flex Space Investment

      Commercial flex space near I-80, leased until 2027.
      200 Greenfield Dr, Tiffin, IA 52340
      View Details
    • $195,000

      Tiffin Flex Space For Sale

      Commercial flex space near I-80, leased through January 2027.
      200 Greenfield Dr, Tiffin, IA 52340
      View Details
    • Contact for pricing

      New Construction Commercial/Industrial Bay

      New construction bay suitable for business, storage, or personal use.
      150 Greenfield Dr Unit A, Tiffin, IA 52340
      View Details

    FAQs

    What type of property is this?
    Flex space - New commercial condos with drive-through access in Tiffin, Iowa.
    Where is this flex space located?
    The property is located at 128 Greenfield Dr Tiffin, IA.
    What is the asking price?
    The asking price for this property is $209,900.
    What are key features of this property?
    This property features: Immediate possession available; Drive‑through access with two 12'x14' garage doors; Located off I‑80 and Ireland Drive/Roberts Ferry Road in Tiffin
    (319) 981-0890
    We can help!
    Listing Contact
    Karla Davis
    Karla Davis
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    128 Greenfield Dr, Tiffin, IA 52340
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!