Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    620 Central Avenue Northwood, IA 50459

    View on Map
    Claim this Listing
    For Sale
    $225,000

    COMMERCIAL - Other - Northwood, IA

    Lot size:
    0.18 Acres
    Added:
    Oct 13, 2025
    Days on Market:
    198
    Last Refresh:
    Apr 28 at 7:06 pm

    Property Features for 620 Central Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Parking features
    On Street
    Standard status
    Active
    APN
    03-29-486-015
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    NORTHWOOD ORIG PLAT / ORIG TOWN NORTHWOOD BLOCK:67 LOT:16, 17 & 18
    Tax Annual Amount
    1273

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1930
    Building materials
    Brick, Metal Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Jessica Berry

    Listing agent Jessica Berry License #***

    Listing office Realty ONE Group Black Diamond 111 N Mill St, Lake Mills, IA

    Listing date Oct 13, 2025

    MLS# 6332768

    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.

    Overview

    Commercial Property in Prime Location

    This commercial property, located in a prime downtown location in Northwood, Iowa, offers space and visibility. The property consists of two adjoining buildings with over 13,000 square feet of space. It is zoned commercial and faces south towards the Shellrock River. Substantial updates have been made to the property, including electrical, HVAC, and plumbing. The City of Northwood, Iowa, offers new business incentives and opportunities for potential grants and/or loans. The lot size is 0.18 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    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
    Northwood
    County
    Worth
    State
    Iowa
    Longitude
    -93.222831
    Latitude
    43.444358

    Nearby Similar for Sale

    • $149,900

      Northwood Commercial Building For Sale

      Commercial building in Northwood, Iowa, with versatile potential uses.
      719 7Th Street N, Northwood, IA 50459
      View Details
    • $225,000

      Commercial Property in Prime Location

      Commercial property with space, options, and visibility in Northwood, IA.
      616 Central Avenue, Northwood, IA 50459
      View Details
    • $72,000

      Land with Mature Trees

      Land near Northwood, Iowa with abundant wildlife and natural surroundings.
      4403 Killdeer Avenue, Northwood, IA 50459
      View Details
    • Contact for pricing

      Commercial Land Near I-35 Exit

      Commercial land conveniently located near I-35, Diamond Jo Casino.
      Wheelerwood Rd, Northwood, IA
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial property with space, options, and visibility in Northwood, IA.
    Where is this commercial land located?
    The property is located at 620 Central Avenue Northwood, IA.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Over 13,000 sq ft of commercial space in two adjoining buildings; Prime downtown location with high visibility facing the Shellrock River; Zoned commercial, suitable for various business ventures
    (507) 402-3141
    We can help!
    Listing Contact
    Jessica Berry
    Real Estate License ID: ***
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!