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    Warehouse Condo with Office Space Title is generated by Realmo AI

    1650 Commercial Dr, Walford, IA 52351

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    For Sale
    $230,000

    COMMERCIAL - Walford, IA

    Property size:
    2,400 SF
    Lot size:
    0.68 Acres
    Price / SF:
    $95/SF
    Added:
    Mar 3, 2026
    Days on Market:
    79
    Last Refresh:
    May 21 at 3:06 pm

    Property Features for 1650 Commercial Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Comm
    Standard status
    Active
    APN
    203020202201002
    Size
    2,400 SF
    Lot size
    0.68 Acres

    Taxes and HOA fees

    Tax Description
    GRANT BLUFF COMMERCIAL CONDO BLDG #2 UNIT 203
    Tax Annual Amount
    3582

    Building Details

    Year built
    2022
    Flooring type
    Concrete
    Building materials
    Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Trev Adair
    Trev Adair

    Listing agent Trev Adair License #322502720

    Listing office Pinnacle Realty LLC 1110 Dina Ct Suite A, Cedar Rapids, IA

    Listing date Mar 3, 2026

    MLS# 2601437

    Copyright © 2026 Cedar Rapids 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

    • Functional warehouse space ideal for contractors, storage, light industrial, or small business.
    • Mezzanine level with air‑conditioned office provides a private workspace.
    • Includes a restroom.
    • Equipped with a gas heater for year‑round operation.
    • Built in 2022, indicating modern construction.
    • Suitable for owner‑occupants or investors.

    Overview

    This well-maintained warehouse condo in Walford, Iowa, offers a functional and flexible layout suitable for contractors, storage, light industrial use, or small business operations. The property features open warehouse space on the main level, along with a restroom. A mezzanine level provides an air-conditioned office, creating a private workspace separate from the warehouse floor. The warehouse area is equipped with a gas heater for year-round operation. Situated on a 0.68-acre lot, the property encompasses a total of 2400 square feet. This commercial real estate is an excellent opportunity for an owner-occupant or investor seeking efficient warehouse space with built-in office functionality. The zoning is Comm.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Building Supply Storage Facility Furniture & Home Goods Electronics & Wireless Store Grocery & Convenience Store Pet Store Pet Store & Service

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

    Similar Places Nearby

    • Four Counties Storage — 1655 Commercial Dr, Walford, IA 52351

    Location Insight

    • Map
    • Local Demand
    City
    Walford
    County
    Benton
    State
    Iowa
    Longitude
    -91.8249928
    Latitude
    41.8881417

    FAQs

    What type of property is this?
    Warehouse - Functional warehouse condo with mezzanine office in Walford, Iowa.
    Where is this warehouse located?
    The property is located at 1650 Commercial Dr Walford, IA.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: Functional warehouse space ideal for contractors, storage, light industrial, or small business.; Mezzanine level with air‑conditioned office provides a private workspace.; Includes a restroom.
    (319) 350-9476
    We can help!
    Listing Contact
    Trev Adair
    Trev Adair
    Real Estate License ID: 322502720
    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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