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    Decorah Commercial Space For Rent Title is generated by Realmo AI

    1111 Montgomery Street, Decorah, IA 52101

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    For Lease
    $1.00 SF/Yr

    COMMERCIAL - Decorah, IA

    Type:Office
    Lot size:
    2.88 Acres
    Added:
    Nov 26, 2024
    Days on Market:
    535
    Last Refresh:
    May 15 at 3:06 pm

    Property Features for 1111 Montgomery Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    C-1
    Standard status
    Active
    APN
    112225301300
    Lot size
    2.88 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    Brief: UNIT #2 L 1-12 BLK 2 CARLSONS 3RD ADDN 22-98-8
    Tax Annual Amount
    21970

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Zoned, Natural Gas, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1974
    Flooring type
    Carpet
    Roof type
    Metal

    We can help!

    Listing Contact
    Joan Rollins
    Joan Rollins

    Listing agent Joan Rollins License #B39150

    Listing office AJ Realty, Inc. PO Box 290, IA

    Listing date Nov 26, 2024

    MLS# 20245219

    Copyright © 2026 Northeast Iowa Regional Board 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.

    HighLights

    • Over 13,500 sq ft of multi‑use space suitable for office or retail.
    • Move‑in‑ready finished office area with conference room, break room, and restrooms.
    • Excellent Decorah location with convenient access off Highway 9 West and Montgomery Street.
    • 75,000 sq ft of shared parking.
    • High‑traffic area with great visibility.
    • "Build to suit" option available for customized business needs.

    Overview

    This commercial rental space offers over 13,500 square feet suitable for office or retail use. The property features a finished office area, conference room, break room, and restrooms. The landlord is willing to build to suit tenant business needs. Conveniently located off Highway 9 West on Montgomery Street, the property is in a high-traffic area with good visibility. It is situated next to Kwik Star and close to WinnMed Clinic, Hospital & Pharmacy. The property shares a building with Stone Ridge Community Church and provides access to 75,000 square feet of shared parking. The lot size is 2.88 acres. A 5-year lease is preferred. Lease rates are based on tenant build-out specifications.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Stone Ridge Community ... Church Global Collections & Call ... Bpo Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Decorah
    County
    Winneshiek
    State
    Iowa
    Longitude
    -91.771083
    Latitude
    43.291805

    FAQs

    What type of property is this?
    Office units - Multi-use commercial space in high-traffic Decorah location.
    Where is this office units located?
    The property is located at 1111 Montgomery Street Decorah, IA.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: Over 13,500 sq ft of multi‑use space suitable for office or retail.; Move‑in‑ready finished office area **with conference room, break room, and restrooms.**; Excellent Decorah location with convenient access off Highway 9 West and Montgomery Street.
    (563) 380-5364
    We can help!
    Listing Contact
    Joan Rollins
    Joan Rollins
    Real Estate License ID: B39150
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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