Insulated Industrial
For Sale
$905,000
2700 Stonegate Court, Hiawatha, IA 52233
Commercial, Hiawatha, IA
Property Size8,448 SF
Lot Size1.06 Acres
Price / SF$107.13
Days on Market183
Property Features for 2700 Stonegate Court
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Ind
Directions
Corner of Robins Rd and Stonegate Ct
Subdivision
Hiawatha/Robins
Standard status
Active
APN
11282-76004-00000
Size
8,448 SF
Lot size
1.06 Acres
Taxes and HOA fees
Tax Description
Stonegate 4th
Tax Annual Amount
23096
Legal Description
Stonegate 4th
Building Details
Year built
2008
Flooring type
Concrete, Carpet
Roof type
Shingle
Listing Agency:
Realty87 · Coldwell Banker Real Estate
(319) 378-8760
Listed By:
Laurdyn DeNeve-Meyer
(319) 367-8760
Added: Mar 1
Changed: Aug 19
Last Checked: Aug 31 at 12:06PM
MLS# 2601384
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.
Investment Insights
Based on property information with market context.
Built in 2008, this 8,448-square-foot industrial warehouse occupies 1.06 acres and is currently arranged in three bays, with the option to reconfigure the interior into two. The concrete building includes a heavily insulated shop with approximately 22-foot ceilings, three 14-by-14/16 insulated overhead doors, one 7-by-14 insulated overhead door, and five service entry doors. Additional features include a floor drain, air compressor hose stations, 110 and 220 AMP electrical service, vinyl windows, and concrete and carpet flooring.
Two office areas are positioned across both levels, complemented by an attached kitchenette and three bathrooms, including two handicap-accessible bathrooms. Paved parking and storage areas extend across the front, side, and rear of the property. The facility is located near Cedar Rapids, Hiawatha, and Robins, with access to Boyson Road and Center Point Road.
Two office areas are positioned across both levels, complemented by an attached kitchenette and three bathrooms, including two handicap-accessible bathrooms. Paved parking and storage areas extend across the front, side, and rear of the property. The facility is located near Cedar Rapids, Hiawatha, and Robins, with access to Boyson Road and Center Point Road.
Key Highlights
- 8,448 SF industrial warehouse on 1.06 acres
- Currently divided into 3 bays; can be converted to 2
- Approximately 22' ceilings with 3 14x14/16 insulated overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,833
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$996,660
$996.7K
Cap Rate 7%
$711,900
$711.9K
Cap Rate 9%
$553,700
$553.7K
Market Conditions
NOI Build-Up for 8,448 SF
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.
Gross rent
$62.2K $7.36/SF
− Vacancy
−$3.6K −$0.42/SF
EGI
$58.6K $6.94/SF
− OpEx
−$8.8K −$1.04/SF
NOI
$49.8K $5.90/SF
Area
Linn County, IA
Vacancy
5.71%
Lease Rate
$7.36 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$996,660
Cap Rate 7%
$711,900
Cap Rate 9%
$553,700
Alternative Uses
Best Use
Warehouse
$711.9K
$622.9K – $830.6K
NOI $49,833 @ 7.0% cap · market cap 5.51%
Second Best
Industrial
$586.3K
$513.0K – $684.0K
NOI $41,039 @ 7.0% cap · market cap 4.53%
Theoretical Best
Self Storage
$1.42M
$1.24M – $1.66M
NOI $99,526 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 52233, IA
7,091
Population
3,123
Households
2.3
Avg Household Size
39
Median Age
31%
College-Educated
97%
High-School Grad
3.9 sq mi
ZIP Area
1,818
Density / Sq Mi
$66,497
Median Household Income
$44,111
Median Earnings
$846
Median Rent
$200,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Quick N Easy Self Storage — 1450 Robins Rd, Hiawatha, IA 52233
Frequently Asked Questions
What type of property is this?
Warehouse - Concrete commercial facility with flexible bay layout, offices, kitchenette, multiple service doors, and paved areas for parking and storage.
Where is this warehouse located?
The property is located at 2700 Stonegate Court Hiawatha, IA.
What is the asking price?
The asking price for this property is $905,000.
What are key features of this property?
This property features: 8,448 SF industrial warehouse on 1.06 acres; Currently divided into 3 bays; can be converted to 2; Approximately 22' ceilings with 3 14x14/16 insulated overhead doors
