Multi-Tenant Office
For Sale
$950,000
101 S Delaware, Mason City, IA 50401
Office and retail configuration with a 2019 roof and central air serving two southern units.
Property Size8,375 SF
Price / SF$113.43
Days on Market48
Property Features for 101 S Delaware
General Information
Standard status
Active
Size
8,375 SF
Property subtype
Commercial
Building Details
Year Built
1917
Buildings
1
Tenancy
Multi
Listing Agency:
HILDEBRAND REAL ESTATE
Listed By:
Timothy Latham · License #118
(641) 425-0363
Source:
Janefischer
Added: Aug 28
Changed: Sep 13
Last Checked: Oct 12 at 5:11PM
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 HILDEBRAND REAL ESTATE
Investment Insights
Based on property information with market context.
This 8,375-square-foot, multi-tenant commercial building dates to 1917 and combines office and retail space. The roof was completed in 2019, while the two southern units have new central air conditioning, providing updated components within the older structure.
The property is in downtown Mason City at 101 S Delaware, across from Southbridge Mall and the new Home2 Suites by Hilton hotel opening soon. Its established multi-unit layout supports a combination of office and retail occupancy within the building.
The property is in downtown Mason City at 101 S Delaware, across from Southbridge Mall and the new Home2 Suites by Hilton hotel opening soon. Its established multi-unit layout supports a combination of office and retail occupancy within the building.
Key Highlights
- 8,375‑square‑foot multi‑tenant office and retail building
- 1917 construction with a roof completed in 2019
- New central air in the 2 southern units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,722
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,294,440
$1.3M
Cap Rate 7%
$924,600
$924.6K
Cap Rate 9%
$719,133
$719.1K
Market Conditions
NOI Build-Up for 8,375 SF
Gross rent
$100.5K $12.00/SF
− Vacancy
−$8.0K −$0.96/SF
EGI
$92.5K $11.04/SF
− OpEx
−$27.7K −$3.31/SF
NOI
$64.7K $7.73/SF
Area
Cerro Gordo County, IA
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,294,440
Cap Rate 7%
$924,600
Cap Rate 9%
$719,133
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.80M
NOI $107,970 @ 7.0% cap · market cap 11.37%
Second Best
Retail
$924.6K
$809.0K – $1.08M
NOI $64,722 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $147,164 @ 7.0% cap · market cap 15.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 50401, IA
28,981
Population
14,746
Households
2
Avg Household Size
43
Median Age
22%
College-Educated
94%
High-School Grad
148.2 sq mi
ZIP Area
196
Density / Sq Mi
$63,807
Median Household Income
$38,929
Median Earnings
$868
Median Rent
$134,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Office and retail configuration with a 2019 roof and central air serving two southern units.
Where is this office building located?
The property is located at 101 S Delaware Mason City, IA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 8,375‑square‑foot multi‑tenant office and retail building; 1917 construction with a roof completed in 2019; New central air in the 2 southern units
