Historic Office Units with Natural
111 N 2nd Ave, Winterset, IA 50273
For Sale
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Office property in a historic building with flexible interior features and a central hallway layout.
Property Size4,092 SF
Price / SF$0.18
Days on Market83
Property Features for 111 N 2nd Ave
General Information
Standard status
Size
Property subtype
Amenities
central hallway
natural light
rest rooms
storage
Building Details
Year Built
Buildings
Listing Agency:
Summerset Realty
Listed By:
Rachel Eller · License IA S66781000
(515) 468-5635
Source:
Centraliowahomesearch
Added: Aug 21
Changed: Nov 1
Last Checked: Nov 10 at 12:14PM
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 Summerset Realty
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Investment Insights
Based on property information with market context.
The 4,092-square-foot office property occupies a building constructed in 1886 and listed on the National Register of Historic Places. Interior features include a central hallway, abundant natural light, two restrooms, and substantial storage. The building has accommodated beauty salons and private offices, supporting a range of office-oriented configurations.
Located at 111 N 2nd Ave in Winterset, the property sits directly across from the post office. Its historic character, existing circulation, and practical interior amenities provide a defined setting for office or service-oriented business use.
Located at 111 N 2nd Ave in Winterset, the property sits directly across from the post office. Its historic character, existing circulation, and practical interior amenities provide a defined setting for office or service-oriented business use.
Key Highlights
- 4,092‑square‑foot office property in a building constructed in 1886
- Listed on the National Register of Historic Places
- Located across from the post office at 111 N 2nd Ave
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,632
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,052,640
$1.1M
Cap Rate 7%
$751,886
$751.9K
Cap Rate 9%
$584,800
$584.8K
Market Conditions
NOI Build-Up for 4,092 SF
Gross rent
$81.0K $19.80/SF
− Vacancy
−$5.8K −$1.43/SF
EGI
$75.2K $18.37/SF
− OpEx
−$22.6K −$5.51/SF
NOI
$52.6K $12.86/SF
Area
Madison County, IA
Vacancy
7.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,052,640
Cap Rate 7%
$751,886
Cap Rate 9%
$584,800
Alternative Uses
Best Use
Office B
$770.2K
$674.0K – $898.6K
NOI $53,916 @ 7.0% cap
Second Best
Retail
$751.9K
$657.9K – $877.2K
NOI $52,632 @ 7.0% cap
Theoretical Best
Office A
$1.01M
$881.8K – $1.18M
NOI $70,545 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
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Business Placement
Demographics for 50273, IA
8,570
Population
3,927
Households
2.2
Avg Household Size
41
Median Age
25%
College-Educated
96%
High-School Grad
195.2 sq mi
ZIP Area
44
Density / Sq Mi
$80,018
Median Household Income
$48,149
Median Earnings
$948
Median Rent
$216,100
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Office property in a historic building with flexible interior features and a central hallway layout.
Where is this office unit located?
The property is located at 111 N 2nd Ave Winterset, IA.
What are key features of this property?
This property features: 4,092‑square‑foot office property in a building constructed in 1886; Listed on the National Register of Historic Places; Located across from the post office at 111 N 2nd Ave
