Renovated Office Building with Lower
For Sale
$250,000
101 E 10th ST, Monticello, IA 52310
Commercial zoning, multiple entrances, and an accessible lower level support flexible office configurations.
Property Size3,666 SF
Lot Size0.50 Acres
Price / SF$68.19
Days on Market109
Property Features for 101 E 10th ST
General Information
Standard status
Active
Size
3,666 SF
Total Parking Spaces
20
Lot size
0.50 Acres
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$3,124
Amenities
heated sidewalk
generator
built-in signage
automated chairlift
Wood
150x150
0.5
Highway
Building Details
Year Built
1978
Buildings
1
Listing Agency:
Urban Acres Real Estate Corridor
(319) 270-6253
Listed By:
Tatiana McClinton
(319) 270-6253
Source:
Pinnaclerealtyia
Added: May 14
Changed: Aug 29
Last Checked: Aug 29 at 1:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Urban Acres Real Estate Corridor
Investment Insights
Based on property information with market context.
This renovated office building provides 3,666 SF across an open main level and a finished lower level. The main floor includes approximately 2,000+ SF and plumbing for two restrooms, while the lower level adds 1,500+ finished SF and an existing restroom. Three entrances serve the building, including an east-side entry with an automated chairlift connecting to the lower level.
The property occupies a 0.5-acre corner lot with approximately 20 parking spaces and built-in signage at the corner. Its position along a well-traveled corridor with steady local traffic provides visibility for office, medical, and service-based uses. Additional features include a generator and a heated sidewalk at the southwest entrance.
The property occupies a 0.5-acre corner lot with approximately 20 parking spaces and built-in signage at the corner. Its position along a well-traveled corridor with steady local traffic provides visibility for office, medical, and service-based uses. Additional features include a generator and a heated sidewalk at the southwest entrance.
Key Highlights
- 3,666 SF property with approximately 2,000+ SF on the main level and 1,500+ finished SF downstairs
- 0.5‑acre corner lot with approximately 20 parking spaces
- Main level is open and plumbed for two restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,606
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$352,120
$352.1K
Cap Rate 7%
$251,514
$251.5K
Cap Rate 9%
$195,622
$195.6K
Market Conditions
NOI Build-Up for 3,666 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.8K $8.40/SF
− Vacancy
−$7.3K −$2.00/SF
EGI
$23.5K $6.40/SF
− OpEx
−$5.9K −$1.60/SF
NOI
$17.6K $4.80/SF
Area
Jones County, IA
Vacancy
23.77%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$352,120
Cap Rate 7%
$251,514
Cap Rate 9%
$195,622
Alternative Uses
Best Use
Healthcare Medical
$390.3K
$341.5K – $455.3K
NOI $27,319 @ 7.0% cap · market cap 10.93%
Second Best
Office B
$251.5K
$220.1K – $293.4K
NOI $17,606 @ 7.0% cap · market cap 7.04%
Theoretical Best
Specialty Retail
$530.6K
$464.3K – $619.0K
NOI $37,141 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 52310, IA
6,417
Population
2,937
Households
2.2
Avg Household Size
45
Median Age
21%
College-Educated
96%
High-School Grad
145.4 sq mi
ZIP Area
44
Density / Sq Mi
$76,946
Median Household Income
$49,063
Median Earnings
$664
Median Rent
$192,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Commercial zoning, multiple entrances, and an accessible lower level support flexible office configurations.
Where is this office building located?
The property is located at 101 E 10th ST Monticello, IA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 3,666 SF property with approximately 2,000+ SF on the main level and 1,500+ finished SF downstairs; 0.5‑acre corner lot with approximately 20 parking spaces; Main level is open and plumbed for two restrooms
