Renovated Flex Building with
For Sale
Contact for pricing
110 NE SECOND ST, Stuart, IA 50250
Commercially zoned property combines climate-controlled workspace with rear warehouse access.
Property Size3,200 SF
Price / SF$101.56
Days on Market9
Property Features for 110 NE SECOND ST
General Information
Standard status
Active
Size
3,200 SF
Class
B
Property subtype
Office, Industrial, Retail
Zoning
Commercial
Additional Details
Warehouse Space
1,600 SF
Building Details
Year Built
1997
Year Renovated
2019
Buildings
1
Stories
1
Units
1
Building Size
3,200 SF
Listing Agency:
WB Realty Company
(515) 468-3470
Listed By:
Matt Guns · License #IA B62293000
Source:
Crexi
Added: Aug 3
Changed: Aug 10
Last Checked: Aug 10 at 9:26AM
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 WB Realty Company
Investment Insights
Based on property information with market context.
This 3,200-square-foot flex building was constructed in 1997 and renovated in 2019. The front portion provides approximately 1,600 square feet of climate-controlled showroom and workshop space, arranged with an open work area, private office, kitchenette, and restroom. The rear offers an additional 1,600 square feet of warehouse space with two 9-foot overhead roll-up doors.
Located on NE 2nd Street in Stuart’s downtown business district, the property sits among boutiques, restaurants, coffee shops, and local retailers. Commercial zoning supports the building’s existing combination of finished workspace and storage, with a layout suited to retail, service, artisan, light manufacturing, or other flex-oriented operations.
Located on NE 2nd Street in Stuart’s downtown business district, the property sits among boutiques, restaurants, coffee shops, and local retailers. Commercial zoning supports the building’s existing combination of finished workspace and storage, with a layout suited to retail, service, artisan, light manufacturing, or other flex-oriented operations.
Key Highlights
- 3,200‑square‑foot commercial building on NE 2nd Street in downtown Stuart
- Approximately 1,600 square feet of climate‑controlled showroom and workshop space
- Rear 1,600‑square‑foot warehouse area with two 9‑foot overhead roll‑up doors
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
$13,121
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
4.04%
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%
$262,420
$262.4K
Cap Rate 7%
$187,443
$187.4K
Cap Rate 9%
$145,789
$145.8K
Market Conditions
NOI Build-Up for 3,200 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
$20.4K $6.36/SF
− Vacancy
−$1.6K −$0.50/SF
EGI
$18.7K $5.86/SF
− OpEx
−$5.6K −$1.76/SF
NOI
$13.1K $4.10/SF
Area
Guthrie County, IA
Vacancy
7.90%
Lease Rate
$6.36 /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%
$262,420
Cap Rate 7%
$187,443
Cap Rate 9%
$145,789
Alternative Uses
Best Use
Flex RnD
$3.08M
$2.70M – $3.59M
NOI $215,629 @ 7.0% cap · market cap 66.35%
Second Best
Warehouse
$2.58M
$2.25M – $3.01M
NOI $180,369 @ 7.0% cap · market cap 55.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 50250, IA
2,415
Population
1,163
Households
2.1
Avg Household Size
41
Median Age
19%
College-Educated
90%
High-School Grad
108.6 sq mi
ZIP Area
22
Density / Sq Mi
$75,750
Median Household Income
$43,433
Median Earnings
$700
Median Rent
$202,700
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?
Flex space - Commercially zoned property combines climate-controlled workspace with rear warehouse access.
Where is this flex space located?
The property is located at 110 NE SECOND ST Stuart, IA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 3,200‑square‑foot commercial building on NE 2nd Street in downtown Stuart; Approximately 1,600 square feet of climate‑controlled showroom and workshop space; Rear 1,600‑square‑foot warehouse area with two 9‑foot overhead roll‑up doors
