109 MAIN ST N, Wheatland, IA 52777

Building Details

Year Built 1980 More

Construction brick More

Listing Agency: Keller Williams Legacy Group Show Phone

Listed By: Michelle Sproul-Bennett Show Phone

Source: Pinnaclerealtyia

Added: Sep 22 Changed: Nov 9 Last Checked: Nov 8 at 4:25AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 1,600-square-foot office building was constructed in 1980 with all-brick exterior construction. The interior includes private offices, a reception area, conference space, storage, carpeted areas, display windows, two bathrooms, and abundant natural light. The layout provides a practical setting for an office user seeking defined work areas and customer-facing space.

The property is located at 109 Main Street N in Wheatland, Iowa, with the local schools positioned at the end of the street. The site carries commercial zoning, and the building’s street-facing display windows support visibility for an office or service-oriented operation.

Key Highlights

• 1,600‑square‑foot office building constructed in 1980
• All‑brick building with natural light throughout
• Private offices, reception area, and conference space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,479

Cap Rate

5.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$209,580 $209.6K

Cap Rate 7%

$149,700 $149.7K

Cap Rate 9%

$116,433 $116.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,600 SF

Gross rent

$18.4K $11.52/SF

− Vacancy

−$4.5K −$2.79/SF

EGI

$14.0K $8.73/SF

− OpEx

−$3.5K −$2.18/SF

NOI

$10.5K $6.55/SF

Area

Clinton County, IA

Vacancy

24.20%

Lease Rate

$11.52 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$209,580

Cap Rate 7%

$149,700

Cap Rate 9%

$116,433

Alternative Uses

Best Use

Office B

$149.7K

$131.0K – $174.7K (±1% cap)

NOI $10,479 @ 7.0% cap · market cap 5.99%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$235.3K

$205.9K – $274.5K (±1% cap)

NOI $16,470 @ 7.0% cap · market cap 9.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Grocery & Convenience Store Storage Facility Big Box & Wholesale Store Cafe & Coffee Shop Florist Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

75

Businesses Nearby

Explore this area Business Placement

Demographics for 52777, IA

1,322

Population

618

Households

2.1

Avg Household Size

42

Median Age

14%

College-Educated

94%

High-School Grad

55.8 sq mi

ZIP Area

24

Density / Sq Mi

$47,250

Median Household Income

$33,510

Median Earnings

$788

Median Rent

$142,600

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Office building - Small commercial office property with private rooms, meeting space, display windows, and two bathrooms.

Where is this office building located?

The property is located at 109 MAIN ST N Wheatland, IA.

What is the asking price?

The asking price for this property is $175,000.

What are key features of this property?

This property features: 1,600‑square‑foot office building constructed in 1980; All‑brick building with natural light throughout; Private offices, reception area, and conference space