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    Downtown Commercial Building with Apartments Title is generated by Realmo AI

    511 Walker Street, Woodbine, IA 51579

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    For Sale
    $279,000

    COMMERCIAL - Other - Woodbine, IA

    Property size:
    2,160 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $129/SF
    Added:
    Sep 11, 2025
    Days on Market:
    258
    Last Refresh:
    May 26 at 6:06 pm

    Property Features for 511 Walker Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Appliances
    Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer
    Standard status
    Active
    APN
    620002549300000
    Size
    2,160 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    LOT 17 BLK 38 LOT 17 BLK 38
    Tax Annual Amount
    4694

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1990
    Number of units
    2
    Flooring type
    Vinyl, Carpet
    Building materials
    Block, Frame, Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Patricia Reisz
    Patricia Reisz

    Listing agent Patricia Reisz License #***

    Listing office Realty One Group Sterling - Woodbine IA

    Listing date Sep 11, 2025

    MLS# 6331731

    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

    • Multiple Revenue Streams: Commercial space plus two leased apartments provide immediate and diversified income.
    • Prime Location: Situated in downtown Woodbine, a thriving and progressive community with a historic main street.
    • Updated Apartments: Two 2BR/1BA apartments updated in 2013, each with laundry areas and currently leased.
    • Versatile Commercial Space: 2,160 sq. ft. main level suitable for retail, medical, professional services, or other business ventures.
    • Recent Updates: Includes awning (2025), concrete work (2024), new back door/window (2018), and HVAC system (2013).
    • Convenient Access: Located less than an hour from Omaha and Council Bluffs, offering small‑town charm with metro access.

    Overview

    This brick commercial building in downtown Woodbine offers multiple revenue streams with a main-level commercial space and two updated apartments upstairs. The main level, with 2,160 square feet, was previously a dental office and is suitable for retail, medical, professional services, or other business opportunities. The upper level, also 2,160 square feet, features two 2-bedroom, 1-bath apartments, both updated in 2013 with laundry areas and currently leased, providing steady income. Other updates include an awning planned for 2025, concrete at the back door and alley in 2024, and a new back door and window in 2018. The HVAC system was updated in 2013. Located less than an hour from Omaha and Council Bluffs, Woodbine is a progressive community with a historic main street, local development, and a growing population. The property is zoned for business and commercial use and sits on a 0.06-acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Broadway Dental Dental Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Woodbine
    County
    Harrison
    State
    Iowa
    Longitude
    -95.702383
    Latitude
    41.737454

    Nearby Similar for Sale

    • $95,000

      Downtown Woodbine Commercial Opportunity

      Commercial building in historic Woodbine, Iowa with high ceilings.
      63 5Th Street, Woodbine, IA 51579
      View Details
    • $95,000

      Downtown Woodbine Commercial Space

      Historic building in thriving downtown Woodbine, Iowa.
      63 5Th Street, Woodbine, IA 51579
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercial space with two updated apartments in thriving Woodbine.
    Where is this mixed-use property located?
    The property is located at 511 Walker Street Woodbine, IA.
    What is the asking price?
    The asking price for this property is $279,000.
    What are key features of this property?
    This property features: Multiple Revenue Streams: Commercial space plus two leased apartments provide immediate and diversified income.; Prime Location: Situated in downtown Woodbine, a thriving and progressive community with a historic main street.; Updated Apartments: Two 2BR/1BA apartments updated in 2013, each with laundry areas and currently leased.
    (712) 592-0223
    We can help!
    Listing Contact
    Patricia Reisz
    Patricia Reisz
    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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