Building Details

Year built 2003

Flooring type Concrete, Carpet

Building materials Pole

Roof type Metal

Listing Agency: GRAF REAL ESTATE, ERA POWERED · ERA Real Estate i***@ghst.com Show Phone

Listed By: Doug Junge Show Phone

Added: Jun 1 Changed: Oct 27 Last Checked: Oct 30 at 1:06PM

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MLS# 2603834

Copyright © 2026 Cedar Rapids Area Association 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.

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This office property at 1110 Hawkeye Drive includes 4,332 square feet arranged with a receptionist station, 3 offices, a kitchenette, a unisex bathroom, and a utility and storage area. The building was constructed in 2003 and uses pole construction with a metal roof. Interior finishes include concrete and carpet flooring.

The property is located in Hiawatha, Iowa, in Linn County, and is zoned COM. The office area is connected to a shop and warehouse area, providing an additional component to the overall property configuration.

Key Highlights

• 4,332 square feet of office space
• 3 private offices and a receptionist station
• Kitchenette, unisex bathroom, and utility/storage area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,687

Cap Rate

6.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$413,740 $413.7K

Cap Rate 7%

$295,529 $295.5K

Cap Rate 9%

$229,856 $229.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,332 SF

Gross rent

$36.4K $8.40/SF

− Vacancy

−$8.8K −$2.03/SF

EGI

$27.6K $6.37/SF

− OpEx

−$6.9K −$1.59/SF

NOI

$20.7K $4.78/SF

Area

Linn County, IA

Vacancy

24.20%

Lease Rate

$8.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$413,740

Cap Rate 7%

$295,529

Cap Rate 9%

$229,856

Alternative Uses

Best Use

Office B

$295.5K

$258.6K – $344.8K (±1% cap)

NOI $20,687 @ 7.0% cap · market cap 6.90%

Second Best

—

—

no second resolved use

Theoretical Best

Self Storage

$729.1K

$637.9K – $850.6K (±1% cap)

NOI $51,035 @ 7.0% cap · market cap 17.01%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office Units

Suggested Use

Top Pick Restaurant Law Firm Pharmacy Nail Salon HVAC Service Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

589

Businesses Nearby

Explore this area Business Placement

Demographics for 52233, IA

7,091

Population

3,123

Households

2.3

Avg Household Size

39

Median Age

31%

College-Educated

97%

High-School Grad

3.9 sq mi

ZIP Area

1,818

Density / Sq Mi

$66,497

Median Household Income

$44,111

Median Earnings

$846

Median Rent

$200,500

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Contact for pricing

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Frequently Asked Questions

What type of property is this?

Office unit - Configured with private offices, a kitchenette, restroom, and utility-storage space.

Where is this office unit located?

The property is located at 1110 Hawkeye Drive Hiawatha, IA.

What is the asking price?

The asking price for this property is $300,000.

What are key features of this property?

This property features: 4,332 square feet of office space; 3 private offices and a receptionist station; Kitchenette, unisex bathroom, and utility/storage area