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    527 Broad Street Story City, IA 50248

    View on Map
    For Sale
    $339,000

    MULTI_FAMILY - Story City, IA

    Property size:
    3,586 SF
    Lot size:
    0.09 Acres
    Added:
    Nov 18, 2025
    Days on Market:
    134
    Last Refresh:
    Apr 1 at 9:06 am

    Property Features for 527 Broad Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Comm
    Exterior features
    Brick
    Basement
    Full
    Standard status
    Active
    APN
    01-12-315-205
    Size
    3,586 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    1919

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    6
    Flooring type
    Tile, Vinyl, Carpet

    We can help!

    Listing Contact
    Real Estate Team, Jennings

    Listing agent Real Estate Team, Jennings License #S39814

    Listing office RE/MAX REAL ESTATE CENTER 1606 SO. DUFF, AMES, IA

    Listing date Nov 18, 2025

    MLS# 68957

    Copyright © 2026 Central Iowa Board of Realtors, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Building in Story City

    This well-maintained commercial and multi-family building in Story City offers an investment opportunity with a mix of commercial and residential income. The property includes three leased commercial units: a yoga studio, a business with offices, and a pizza restaurant. The second story houses four apartments, including three one-bedroom units and one two-bedroom unit. Coin laundry is available on the second story for tenants. The property features updated electrical and some updated plumbing. Separate utility meters are in place, excluding water. Several tenants in this building are long-term tenants. The roof has been recently replaced and comes with a transferable warranty. All four apartments benefit from updated and modern HVAC equipment. Both water heaters have been replaced within the last year. Three of the apartments have been renovated by the current owner, while one retains its original condition. Two of the commercial units have also been updated under current ownership, while the third remains original. The property is situated on a 0.09-acre lot and the building size is 3586 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Simply Mindful Nutrition ... Gym & Fitness Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Story City
    County
    Story
    State
    Iowa
    Longitude
    -93.596201
    Latitude
    42.187312

    Nearby Similar for Sale

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      Versatile Industrial Warehouse in Story City

      45,516 SF industrial warehouse on 2.83 acres for sale.
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      View Details
    • $409,000
      1,863 SF

      Acreage in Roland-Story School District

      1.82 acre property with 4-bedroom home and heated shop.
      50469 110th Street, Story City, IA 50248
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    • $210,000
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      Commercial Building in Story City

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    FAQs

    What type of property is this?
    Mixed-use property - Commercial and residential income property in Story City, Iowa.
    Where is this mixed-use property located?
    The property is located at 527 Broad Street Story City, IA.
    What is the asking price?
    The asking price for this property is $339,000.
    What are key features of this property?
    This property features: Mix of commercial and residential income streams provides diversified revenue.; Updated HVAC equipment in all four apartments ensures tenant comfort and lower utility costs.; New roof with transferable warranty provides peace of mind.
    2324663
    We can help!
    Listing Contact
    Real Estate Team, Jennings
    Real Estate License ID: S39814
    Learn More
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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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