Two-Story Storefront
For Sale
$730,000
11 S Federal, Mason City, IA 50401
COMMERCIAL/INDUSTRIAL, 2 Story, MASON CITY, IA
Property Size3,520 SF
Price / SF$207.39
Days on Market684
Property Features for 11 S Federal
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Southeast
Standard status
Active
Size
3,520 SF
Taxes and HOA fees
Tax Year
2023
Tax Description
L 4 SUB L 3 BLK 16 PAUL FELTS PLAT
Tax Annual Amount
3790
Legal Description
L 4 SUB L 3 BLK 16 PAUL FELTS PLAT
Utilities
Cooling system
Central Air
Building Details
Year built
1928
Floors in Building
2
Building materials
Block, Brick Veneer
Architectural style
Other
Listing Agency:
HILDEBRAND REAL ESTATE
(641) 423-5055
Listed By:
TIMOTHY LATHAM · License #S44162
(641) 425-0363
Added: Oct 30, 2024
Changed: Aug 19
Last Checked: Sep 13 at 7:06AM
MLS# 240775
Copyright © 2026 Greater Mason City Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial package comprises six parcels totaling a listed 3,520 square feet and includes storefronts positioned on the plaza, with apartments above some spaces. Two additional stores open toward the mall entrance and have long-term tenants. The improvements date to 1928 and feature block and brick veneer construction with central air conditioning.
The property is located at 11 S Federal in Mason City, within a plaza setting that includes the only Frank Lloyd Wright Hotel in the world, restaurants, entertainment, and several small businesses. New roofs are reported for 9 S Federal, 11 S Federal, and 10 1st SE. The included MLS numbers are 240773, 240774, 240775, 240776, and 240777.
The property is located at 11 S Federal in Mason City, within a plaza setting that includes the only Frank Lloyd Wright Hotel in the world, restaurants, entertainment, and several small businesses. New roofs are reported for 9 S Federal, 11 S Federal, and 10 1st SE. The included MLS numbers are 240773, 240774, 240775, 240776, and 240777.
Key Highlights
- Six‑parcel commercial package at 11 S Federal, Mason City, IA 50401
- Listed property size of 3,520 Square Feet
- Plaza‑facing storefronts with apartments above some spaces
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
$27,203
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
3.73%
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%
$544,060
$544.1K
Cap Rate 7%
$388,614
$388.6K
Cap Rate 9%
$302,256
$302.3K
Market Conditions
NOI Build-Up for 3,520 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
$42.2K $12.00/SF
− Vacancy
−$3.4K −$0.96/SF
EGI
$38.9K $11.04/SF
− OpEx
−$11.7K −$3.31/SF
NOI
$27.2K $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 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%
$544,060
Cap Rate 7%
$388,614
Cap Rate 9%
$302,256
Alternative Uses
Best Use
Retail
$388.6K
$340.0K – $453.4K
NOI $27,203 @ 7.0% cap · market cap 3.73%
Second Best
Mixed Use
$339.4K
$297.0K – $396.0K
NOI $23,760 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$883.6K
$773.2K – $1.03M
NOI $61,853 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Six-parcel commercial package with plaza-facing storefronts, additional mall-entry retail, and some apartments above.
Where is this storefront property located?
The property is located at 11 S Federal Mason City, IA.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Six‑parcel commercial package at 11 S Federal, Mason City, IA 50401; Listed property size of 3,520 Square Feet; Plaza‑facing storefronts with apartments above some spaces
