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    304 W Clay St Cedar Falls, IA 50613

    Sponsored
    Picture of Wedding venues at W Clay St 304, Cedar Falls, IA
    For Sale
    Pending
    $535,000

    SINGLE_FAMILY - Cedar Falls, IA

    Type:Office
    Lot size:
    0.20 Acres
    Days on Market:
    47
    Last Refresh:
    Jan 27 at 3:06 pm

    Property Features for 304 W Clay St

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Pending
    Zoning
    C
    APN
    891412187001
    Lot size
    0.20 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Electric (Heating), Hot Water(Heating), Forced Air
    Cooling system
    Multi Units

    Building Details

    Year built
    1867
    Flooring type
    Carpet, Tile, Wood
    Building materials
    Frame
    Roof type
    Flat, Composition

    We can help!

    Listing Contact
    Gale Bonsall

    Oakridge Real Estate (319) 277-5005

    Listing agent Gale Bonsall, CRS, G (319) 231-9700

    Listing date Dec 12, 2025

    MLS# 20255895

    Copyright © 2026 Northeast Iowa Regional Board 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.

    Learn more

    Property Insight Report

    Overview

    Iconic Victorian Landmark in Cedar Falls

    This iconic historic landmark in Cedar Falls, a Victorian classic home, offers nearly 7000 square feet. The ballroom/main hall, featuring a stage, spans over 2100 square feet and is suited for weddings, private clubs, and receptions. A large balcony with additional seating overlooks the ballroom area. The full-service kitchen includes walk-in commercial-grade refrigeration and freezer space. Recent capital improvements include two ADA-compliant restrooms in the new addition. Additional rooms throughout the property offer multiple uses. These include a parlor with antique fireplaces, a second-floor board room, a flower room, and a viewing balcony overlooking the ballroom. This multiuse property is situated on a 0.2-acre lot and is ready for a new owner. The property is zoned C and is located in Cedar Falls, Iowa.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cedar Falls Woman's ... Wedding Venue

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Falls
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.447776
    Latitude
    42.535633

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    FAQs

    What type of property is this?
    Wedding venue - Historic multiuse property with ballroom, commercial kitchen, and charming details.
    Where is this wedding venue located?
    The property is located at 304 W Clay St Cedar Falls, IA.
    What is the asking price?
    The asking price for this property is $535,000.
    What are key features of this property?
    This property features: - Iconic, historic landmark property in Cedar Falls.; - Massive 7000 sq ft Victorian home with versatile spaces.; - **2100 sq ft ballroom/main hall with stage and balcony, ideal for events.**
    (319) 231-9700
    Request Owner's contact information
    304 W Clay St Cedar Falls, IA 50613
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    Cedar Falls, IA 50613
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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
    304 W Clay St Cedar Falls, IA 50613
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    We can help!
    Listing Contact
    Gale Bonsall
    (319) 231-9700
    Learn more
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