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    Versatile Commercial Building Near Highway Title is generated by Realmo AI

    2062 653rd Avenue, Albia, IA 52531

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    Claim this Listing
    For Sale
    $575,000

    COMMERCIAL - Albia, IA

    Property size:
    6,032 SF
    Lot size:
    1.21 Acres
    Price / SF:
    $95/SF
    Added:
    Feb 16, 2026
    Days on Market:
    99
    Last Refresh:
    May 26 at 4:06 am

    Property Features for 2062 653rd Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Industrial
    Appliances
    Range, Microwave, Exhaust Fan, Dishwasher, Refrigerator, Washer, Dryer, Electric Water Heater
    Standard status
    Active
    APN
    080827041000000
    Size
    6,032 SF
    Lot size
    1.21 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Parcel G in NW 1/4 SW 1/4, Section 27, T72N, R17W, Monroe County, Iowa. Exact legal to come from abstract.
    Tax Annual Amount
    5028

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Forced Air
    Cooling system
    Ductless
    Water source
    Public

    Building Details

    Year built
    2022
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Metal Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Ryan Ammons
    Ryan Ammons

    Listing agent Ryan Ammons License #***

    Listing office Hawkeye Farm Mgmt & Real Estat 1010 S Clinton, Albia, IA

    Listing date Feb 16, 2026

    MLS# 6335657

    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.

    HighLights

    • 6,032 sq ft steel building built in 2022, featuring 1,392 sq ft of finished living/office space.
    • Prime location south of Albia with paved road frontage and easy Highway 5 access.
    • 4,640 sq ft insulated shop space with concrete floors, electric heat, and 16‑foot sidewalls.
    • Two large overhead doors provide excellent access and clearance.
    • Versatile layout ideal for automotive repair, dealership, or equipment storage.
    • 1.21‑acre lot includes a gravel area for parking or expansion.

    Overview

    Located just south of Albia, outside city limits, this commercial property offers strong access and flexibility for various uses. Constructed in 2021, the steel building measures 58' x 104' x 16' and sits on 1.21 acres with paved road frontage, approximately 180 feet from Highway 5. The building totals 6,032 square feet under roof, including 1,392 square feet of finished living or office space (24' x 58'). This area features a kitchen, living area, bathroom, and one bedroom or private office. The remaining 4,640 square feet comprises insulated shop space with full concrete floors, electric heat, and 16-foot sidewalls. Two large overhead doors provide access and clearance. The gravel lot allows for additional parking, equipment storage, or expansion. This property is suited for automotive repair, dealership operations, contractor headquarters, equipment storage, or general commercial use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    Albia
    County
    Monroe
    State
    Iowa
    Longitude
    -92.796903
    Latitude
    40.986471

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      Commercial Building Near Highway 5

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    FAQs

    What type of property is this?
    Flex space - 6,032 SF building on 1.21 acres near Highway 5.
    Where is this flex space located?
    The property is located at 2062 653rd Avenue Albia, IA.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: 6,032 sq ft steel building built in 2022, featuring 1,392 sq ft of finished living/office space.; Prime location south of Albia with paved road frontage and easy Highway 5 access.; 4,640 sq ft insulated shop space with concrete floors, electric heat, and 16‑foot sidewalls.
    (641) 777-2955
    We can help!
    Listing Contact
    Ryan Ammons
    Ryan Ammons
    Real Estate License ID: ***
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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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