Build-to-Suit Industrial
For Sale
$1,860,000
108 Greenfield Dr, Tiffin, IA 52340
New commercial condo flex/warehouse building to be built with customizable layouts and 12'x14' garage doors per unit.
Property Size12,000 SF
Price / SF$155
Days on Market54
Property Features for 108 Greenfield Dr
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Commercial
Zoning
M2
Additional Details
Highway Access
Yes
Clear Height
16 ft
Amenities
ConcreteSlabGrade
none/condo
Paved
Building Details
Year Built
2026
Listing Agency:
GLD Commercial Real Estate Advisors
(319) 393-0900
Listed By:
Emmaleigh Buck
(319) 899-2536
Source:
Pinnaclerealtyia
Added: Jul 22
Changed: Sep 12
Last Checked: Sep 13 at 6:14AM
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 GLD Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This offering is a new construction commercial condo building designed as flex/industrial space, with a total of 12,000 square feet. The floor plan is available and can be customized, including the ability to change unit walls and unit sizes to fit tenant or owner requirements. Each unit will include a restroom, gas heaters, 12'x14' garage doors, and 16' sidewalls.
The property is located off I-80 and Ireland Drive/Roberts Ferry Road in Tiffin, Iowa. Plans and documentation, including a floor plan, site plan, and condo docs, are available in the associated materials, and photos reflect similar properties.
Construction is planned by Corridor Builders, and additional items such as CAM are listed as TBD. Contact the listing agents for more information on the customization options and the available documents.
The property is located off I-80 and Ireland Drive/Roberts Ferry Road in Tiffin, Iowa. Plans and documentation, including a floor plan, site plan, and condo docs, are available in the associated materials, and photos reflect similar properties.
Construction is planned by Corridor Builders, and additional items such as CAM are listed as TBD. Contact the listing agents for more information on the customization options and the available documents.
Key Highlights
- To‑be‑built commercial condo flex/warehouse building with customizable floor plans
- 12,000 SF total building size; layouts can be customized, including walls and unit sizes
- Each unit includes a 12' x 14' garage door and 1 restroom per unit
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
$93,514
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
5.03%
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%
$1,870,280
$1.9M
Cap Rate 7%
$1,335,914
$1.3M
Cap Rate 9%
$1,039,044
$1.0M
Market Conditions
NOI Build-Up for 12,000 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
$115.2K $9.60/SF
− Vacancy
−$5.2K −$0.43/SF
EGI
$110.0K $9.17/SF
− OpEx
−$16.5K −$1.38/SF
NOI
$93.5K $7.79/SF
Area
Johnson County, IA
Vacancy
4.50%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$1,870,280
Cap Rate 7%
$1,335,914
Cap Rate 9%
$1,039,044
Alternative Uses
Best Use
Warehouse
$1.34M
$1.17M – $1.56M
NOI $93,514 @ 7.0% cap · market cap 5.03%
Second Best
Industrial
$1.03M
$897.8K – $1.20M
NOI $71,820 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$2.61M
$2.28M – $3.04M
NOI $182,477 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52340, IA
4,810
Population
2,400
Households
2
Avg Household Size
33
Median Age
58%
College-Educated
99%
High-School Grad
19.1 sq mi
ZIP Area
252
Density / Sq Mi
$105,517
Median Household Income
$67,275
Median Earnings
$1,336
Median Rent
$317,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - New commercial condo flex/warehouse building to be built with customizable layouts and 12'x14' garage doors per unit.
Where is this flex space located?
The property is located at 108 Greenfield Dr Tiffin, IA.
What is the asking price?
The asking price for this property is $1,860,000.
What are key features of this property?
This property features: To‑be‑built commercial condo flex/warehouse building with customizable floor plans; 12,000 SF total building size; layouts can be customized, including walls and unit sizes; Each unit includes a 12' x 14' garage door and 1 restroom per unit
