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    991 222nd Drive Ogden, IA 50212

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    For Sale
    $465,000

    COMMERCIAL - Ogden, IA

    Property size:
    252,212 SF
    Lot size:
    5.79 Acres
    Added:
    Apr 4, 2025
    Days on Market:
    373
    Last Refresh:
    Apr 11 at 9:06 am

    Property Features for 991 222nd Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    Size
    252,212 SF
    Lot size
    5.79 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2510

    Utilities

    Sewer type
    Septic Tank, Public Sewer
    Heating system
    Propane (Heating), Natural Gas

    Building Details

    Year built
    1978
    Floors in Building
    1
    Building materials
    Steel Frame

    We can help!

    Listing Contact
    Brandon Bergquist

    Listing agent Brandon Bergquist License #S70210000

    Listing office Peoples Company 12119 Stratford Sr Suite B, Ankeny, IA

    Listing date Apr 4, 2025

    MLS# 66999

    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

    Established Greenhouse Business Opportunity

    This commercial greenhouse property, known as Hilltop Greenhouse, presents an opportunity to own and operate a thriving business in Boone County, Iowa. Located near Ogden, the property offers convenient access to US Highway 30 and surrounding communities. The facilities include metal frame poly greenhouse structures providing approximately 64,000 square feet of space suitable for plant cultivation, retail sales, and operational efficiency. The expansive 5.79-acre property includes ample parking, outdoor display areas, and room for expansion or diversification. Essential greenhouse equipment is included. The business specializes in annuals, perennials, succulents, vegetables, and herbs, with opportunities to expand product lines, introduce events, or offer landscaping services. The property has a trusted name with a strong wholesale and retail customer base. Utility providers include the City of Ogden for water, Black Hills Energy for natural gas, Quick Oil Perry, Iowa for liquid propane, Mildland Power for electricity, and Ogden Telephone for phone and fiber optic services. Sewage is managed through a private septic system. Two heating sources are installed, one sourced from natural gas and the second sourced from liquid propane. Propane tanks are leased. A recorded easement is in place for a natural gas line that runs through the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hill Top Greenhouses ... Garden Center

    Suggested Use

    Hotel & Motel Department Store Storage Facility Garden Center Bed & Breakfast

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

    Similar Places Nearby

    • Hill Top Greenhouses Ltd — 991 222nd Dr, Ogden, IA 50212

    Location Insight

    • Map
    • Local Demand
    City
    Ogden
    County
    Boone
    State
    Iowa
    Longitude
    -93.9708254
    Latitude
    42.0304024

    Nearby Similar for Sale

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    • $89,000
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      Ogden Professional Office Space

      Move-in ready office space in a prime Ogden location.
      214 W Walnut Street, Ogden, IA 50212
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    FAQs

    What type of property is this?
    Nursery and garden center - Turn-key greenhouse business with a strong customer base.
    Where is this nursery and garden center located?
    The property is located at 991 222nd Drive Ogden, IA.
    What is the asking price?
    The asking price for this property is $465,000.
    What are key features of this property?
    This property features: Turn‑key greenhouse business with established reputation and customer base built over 50 years.; **64,000 sq ft of metal frame poly greenhouse structures** suitable for cultivation, retail, and operations.; 5.79 acres m/l of land with parking, display areas, and expansion potential.
    (515) 222-1347
    We can help!
    Listing Contact
    Brandon Bergquist
    Real Estate License ID: S70210000
    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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