Renovated Flex
For Sale
$325,000
110 NE 2nd Street, Stuart, IA 50250
CommercialSale, Stuart, IA
Property Size3,200 SF
Lot Size0.16 Acres
Price / SF$101.56
Days on Market21
Property Features for 110 NE 2nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Com
Elementary school district
West Central Valley
Middle school district
West Central Valley
High school district
West Central Valley
Directions
From I-80 take the Stuart exit and head N on S Division St. Head E on NE 2nd St. Property is on the S side of the road.
Subdivision
Stuart
Standard status
Active
APN
0001358700
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
LOT 6, 7 & E 25' LOT 13 BLK 18
Tax Annual Amount
1428
Legal Description
LOT 6, 7 & E 25' LOT 13 BLK 18
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1997
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
WB Realty Company
(515) 966-5478
Listed By:
Matthew Guns
(515) 554-4543
Added: Aug 3
Changed: Aug 19
Last Checked: Aug 23 at 2:06AM
MLS# 746560
Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. 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 flex property at 110 NE 2nd Street combines finished workspace with warehouse capacity. The front includes approximately 1,600 square feet of climate-controlled showroom and workshop area, along with an open work area, private office, kitchenette, and restroom. A separate rear 1,600-square-foot warehouse provides two 9-foot overhead roll-up doors for moving inventory, equipment, and deliveries.
Constructed in 1997 and extensively renovated in 2019, the building has metal siding, a metal roof, natural gas forced-air heat, central air, public water, and public sewer. Its Stuart location places the property on NE 2nd Street within the downtown business district, near boutiques, restaurants, coffee shops, and local retailers. The site contains 0.16 acres and is zoned Com.
Constructed in 1997 and extensively renovated in 2019, the building has metal siding, a metal roof, natural gas forced-air heat, central air, public water, and public sewer. Its Stuart location places the property on NE 2nd Street within the downtown business district, near boutiques, restaurants, coffee shops, and local retailers. The site contains 0.16 acres and is zoned Com.
Key Highlights
- 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
- Open work area, private office, kitchenette, and restroom in the front space
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
Property Profile
Current Use
Lease Details
Yes
Paved road access
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 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 - Climate-controlled showroom and workshop areas connect to rear warehouse space with delivery access.
Where is this flex space located?
The property is located at 110 NE 2nd Street 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: 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; Open work area, private office, kitchenette, and restroom in the front space
