Building Details

Year built 2026

Flooring type Concrete

Building materials Frame

Roof type Metal

Listing Agency: GATEWAY ACCESS REALTY g***@gmail.com Show Phone

Listed By: Karla Davis Show Phone

Added: Jul 22 Changed: Oct 16 Last Checked: Oct 24 at 2:06AM

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MLS# 202604638

Copyright © 2026 Iowa City 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.

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Investment Insights

Based on property information with market context.

Planned as a 12,000-square-foot commercial condominium building, the flex property is designed for customizable unit sizes and layouts. The plan allows walls to be repositioned to suit individual specifications. Each unit is planned with a 12' x 14' garage door, 16' sidewalls, one restroom, and a natural gas heater. The property is zoned M2.

The site at 112 Greenfield Dr in Tiffin is near I-80 and Ireland Drive/Roberts Ferry Road. The building is to be constructed by Corridor Builders; available materials include a floor plan, site plan, and condominium documents.

Key Highlights

• 12,000 square feet of planned commercial condominium space
• Unit sizes and interior walls can be customized
• Each unit planned with a 12' x 14' garage door and 16' sidewalls

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$71,820

Cap Rate

4.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,436,400 $1.4M

Cap Rate 7%

$1,026,000 $1.0M

Cap Rate 9%

$798,000 $798.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,000 SF

Gross rent

$108.0K $9.00/SF

− Vacancy

−$5.4K −$0.45/SF

EGI

$102.6K $8.55/SF

− OpEx

−$30.8K −$2.56/SF

NOI

$71.8K $5.98/SF

Area

Johnson County, IA

Vacancy

5.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,436,400

Cap Rate 7%

$1,026,000

Cap Rate 9%

$798,000

Alternative Uses

Best Use

Industrial

$1.03M

$897.8K – $1.20M (±1% cap)

NOI $71,820 @ 7.0% cap · market cap 4.13%

Second Best

Flex RnD

$769.1K

$673.0K – $897.3K (±1% cap)

NOI $53,836 @ 7.0% cap · market cap 3.09%

Theoretical Best

Office A

$2.61M

$2.28M – $3.04M (±1% cap)

NOI $182,477 @ 7.0% cap · market cap 10.49%

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

Flex space

Suggested Use

Top Pick Parking Lot & Garage Building Supply Real Estate Agency Home Appliance Store Pet Grooming Service Auto Parts Store

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

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

71

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 52340, IA

4,810

Population

2,400

Households

2

Avg Household Size

33

Median Age

58%

College-Educated

99%

High-School Grad

19.1 sq mi

ZIP Area

252

Density / Sq Mi

$105,517

Median Household Income

$67,275

Median Earnings

$1,336

Median Rent

$317,900

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Planned commercial condominium space offers configurable unit layouts and individual restroom and heating provisions.

Where is this flex space located?

The property is located at 112 Greenfield Dr Tiffin, IA.

What is the asking price?

The asking price for this property is $1,740,000.

What are key features of this property?

This property features: 12,000 square feet of planned commercial condominium space; Unit sizes and interior walls can be customized; Each unit planned with a 12' x 14' garage door and 16' sidewalls