Flex Industrial Facility with
For Sale
$2,228,000
1100 31st Ave, Council Bluffs, IA 51501
Vacant at closing with office, production, warehouse, and fenced outdoor storage areas.
Property Size18,574 SF
Days on Market119
Property Features for 1100 31st Ave
General Information
Standard status
Active
Size
18,574 SF
Property subtype
Industrial
Building Details
Building Size
18,574 SF
Year Built
1981
Listing Agency:
Lee & Associates | Omaha
Listed By:
Daniel Dutton
(402) 677-1247
Source:
Lee-associates
Added: May 7
Changed: Aug 30
Last Checked: Aug 30 at 10:28PM
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 Lee & Associates | Omaha
Investment Insights
Based on property information with market context.
This flex industrial property includes an 18,574-square-foot facility on 2.63 acres, combining warehouse, production, and office areas. Approximately 3,000 square feet is dedicated to office space, while the building provides 14 to 16 foot clear heights, two dock-high doors, two drive-in doors, and two 1-ton cranes. A wet sprinkler system and 3-phase 800-amp power support industrial operations. The property is zoned I-2 and will be vacant at closing.
The site includes more than 10,000 square feet of fenced outdoor storage, a separate truck entrance, and semi access. Located at 1100 31st Ave in Council Bluffs, the facility offers a combination of enclosed industrial space and secured exterior storage within a 2.63-acre site.
The site includes more than 10,000 square feet of fenced outdoor storage, a separate truck entrance, and semi access. Located at 1100 31st Ave in Council Bluffs, the facility offers a combination of enclosed industrial space and secured exterior storage within a 2.63-acre site.
Key Highlights
- 18,574 SF industrial and production facility on 2.63 acres
- Zoned I‑2 with approximately 3,000 SF of office space
- Two 1‑ton cranes included in the sale
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
$102,192
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
4.59%
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%
$2,043,840
$2.0M
Cap Rate 7%
$1,459,886
$1.5M
Cap Rate 9%
$1,135,467
$1.1M
Market Conditions
NOI Build-Up for 18,574 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
$129.3K $6.96/SF
− Vacancy
−$9.0K −$0.49/SF
EGI
$120.2K $6.47/SF
− OpEx
−$18.0K −$0.97/SF
NOI
$102.2K $5.50/SF
Area
Pottawattamie County, IA
Vacancy
7.00%
Lease Rate
$6.96 /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%
$2,043,840
Cap Rate 7%
$1,459,886
Cap Rate 9%
$1,135,467
Alternative Uses
Best Use
Warehouse
$1.46M
$1.28M – $1.70M
NOI $102,192 @ 7.0% cap · market cap 4.59%
Second Best
Industrial
$1.20M
$1.05M – $1.40M
NOI $84,158 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$3.55M
$3.10M – $4.14M
NOI $248,308 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 51501, IA
34,906
Population
15,217
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
86%
High-School Grad
23.9 sq mi
ZIP Area
1,461
Density / Sq Mi
$59,314
Median Household Income
$40,229
Median Earnings
$997
Median Rent
$140,400
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 - Vacant at closing with office, production, warehouse, and fenced outdoor storage areas.
Where is this flex space located?
The property is located at 1100 31st Ave Council Bluffs, IA.
What is the asking price?
The asking price for this property is $2,228,000.
What are key features of this property?
This property features: 18,574 SF industrial and production facility on 2.63 acres; Zoned I‑2 with approximately 3,000 SF of office space; Two 1‑ton cranes included in the sale
