Flex Space with Overhead
For Sale
$169,775
3045 Capital Way, Cedar Falls, IA 50613
Commercial Sale, Cedar Falls, IA
Property Size1,485 SF
Lot Size3.00 Acres
Price / SF$114.33
Days on Market219
Property Features for 3045 Capital Way
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
m-1
Directions
West off Hudson Rd to Viking Rd curve South to Production DR to Capital way
Standard status
Active
APN
891434277000
Lot size
3.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WEST VIKING RD IND PARK PHASE I LOT 6
Legal Description
WEST VIKING RD IND PARK PHASE I LOT 6
Building Details
Year built
2025
Listing Agency:
Structure Real Estate
(319) 260-2016
Listed By:
Brian Wingert · License #B60468000
(319) 404-4884
Added: Jan 30
Changed: Aug 19
Last Checked: Sep 6 at 9:06AM
MLS# 20260400
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.
Investment Insights
Based on property information with market context.
This under-construction flex space is planned within a condo-style commercial building and offers 1,485 square feet in a 33-by-45-foot configuration. The unit includes 16-foot ceilings, a 12-foot-wide by 14-foot-tall overhead door, and a separate walk-in entrance. Insulated walls, a heating and cooling unit, and a finished bathroom are included.
The property is located in the industrial park at 3045 Capital Way in Cedar Falls, Iowa. M-1 zoning supports its industrial setting, while separate electric and water meters provide dedicated utility service. The three-acre property is scheduled for completion in 2025 and is positioned for storage, small business, or other commercial suite configurations supported by the planned improvements.
The property is located in the industrial park at 3045 Capital Way in Cedar Falls, Iowa. M-1 zoning supports its industrial setting, while separate electric and water meters provide dedicated utility service. The three-acre property is scheduled for completion in 2025 and is positioned for storage, small business, or other commercial suite configurations supported by the planned improvements.
Key Highlights
- 1,485 SF unit within a condo‑style commercial building
- 33‑by‑45‑foot space with 16‑foot ceilings
- 12‑foot‑wide by 14‑foot‑tall overhead door
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
$6,662
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
3.92%
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%
$133,240
$133.2K
Cap Rate 7%
$95,171
$95.2K
Cap Rate 9%
$74,022
$74.0K
Market Conditions
NOI Build-Up for 1,485 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
$10.9K $7.32/SF
− Vacancy
−$621 −$0.42/SF
EGI
$10.2K $6.90/SF
− OpEx
−$3.6K −$2.42/SF
NOI
$6.7K $4.49/SF
Area
Black Hawk County, IA
Vacancy
5.71%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
35.00%
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%
$133,240
Cap Rate 7%
$95,171
Cap Rate 9%
$74,022
Alternative Uses
Best Use
Warehouse
$1.50M
$1.31M – $1.75M
NOI $105,116 @ 7.0% cap · market cap 61.91%
Second Best
Industrial
$1.24M
$1.08M – $1.44M
NOI $86,566 @ 7.0% cap · market cap 50.99%
Theoretical Best
Mixed Use
$1.86M
$1.63M – $2.17M
NOI $130,309 @ 7.0% cap · market cap 76.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Under-construction commercial unit with flexible suite potential, dedicated utility metering, climate control, and a finished bathroom.
Where is this flex space located?
The property is located at 3045 Capital Way Cedar Falls, IA.
What is the asking price?
The asking price for this property is $169,775.
What are key features of this property?
This property features: 1,485 SF unit within a condo‑style commercial building; 33‑by‑45‑foot space with 16‑foot ceilings; 12‑foot‑wide by 14‑foot‑tall overhead door
