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    501 S Locust St Glenwood, IA 51534

    Sponsored
    For Sale
    $750,000

    COMMERCIAL - GLENWOOD, IA

    Property size:
    1,250 SF
    Days on Market:
    73
    Last Refresh:
    Feb 4 at 3:06 pm

    Property Features for 501 S Locust St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    056510000000000
    Size
    1,250 SF

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Central Air, Ductless

    Building Details

    Year built
    2001
    Building materials
    Frame
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Emily Swinford
    Emily Swinford

    Better Homes & Gardens Real Estate The Good Life Group (402) 932-5989

    Listing agent Emily Swinford License #S63048000

    Listing date Nov 24, 2025

    MLS# 25-2474

    Copyright © 2026 Southwest Iowa 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.

    Learn more

    Property Insight Report

    Overview

    Turn-Key Coffee & Ice Cream Shop

    This established, locally owned business, a community favorite for over 10 years, offers a turn-key coffee and ice cream shop operation. Situated on highly visible Locust Street, the property occupies a corner lot with a full drive-through, private parking, and outdoor picnic seating. A major 2022 addition nearly doubled the square footage to 1250 square feet and includes a walk-in refrigerator and freezer, upgraded 3-phase electrical, and the additional square footage and infrastructure needed to expand into food service if desired. All equipment is in place. The property is located in Glenwood, Iowa, in Mills County. The existing business is known for its strong brand, loyal customer base, and service. The property is zoned commercial, presenting an opportunity to continue the successful concept or grow it into something even bigger. With real estate included, updated systems, and room to expand, this is an exceptional opportunity to take over a proven business and start serving the community on day one.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Harvest Moon Coffee ... Cafe & Coffee Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    Gathering Place 2.0, Harvest Moon Coffee & Specialty, The Light House Cafe and Coffee Olde Towne Bellevue, Gathering Place, The Round Table Tea Bar

    Location Insight

    • Map
    • Local Demand
    City
    Glenwood
    County
    Mills
    State
    Iowa
    Longitude
    -95.744506
    Latitude
    41.051715

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    FAQs

    What type of property is this?
    Coffee shop - Established coffee and ice cream shop with real estate included.
    Where is this coffee shop located?
    The property is located at 501 S Locust St Glenwood, IA.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - Established turn-key coffee & ice cream shop with a strong brand, loyal customer base, and proven track record of over 10 years.; - Prime corner lot location on highly visible Locust Street with a full drive-through, private parking, and outdoor picnic seating.; - Real estate included in the sale, offering immediate ownership and control.
    (712) 520-4237
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    501 S Locust St Glenwood, IA 51534
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    Glenwood, IA 51534
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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
    501 S Locust St Glenwood, IA 51534
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    We can help!
    Listing Contact
    Emily Swinford
    Emily Swinford
    Real Estate License ID: S63048000
    (712) 520-4237
    Learn more
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