Building Details

Year Built 1875

Listing Agency: Keller Williams Realty GDM m**@kwdsm.com Show Phone

Listed By: Darson Grantham · License #S68402000 Show Phone

Source: Prometrorealty

Added: Oct 9 Changed: Nov 1 Last Checked: Nov 1 at 3:03PM

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Investment Insights

Based on property information with market context.

This 6,204-square-foot mixed-use property combines a ground-floor commercial area with an upstairs residence. The storefront level has large display windows, hardwood flooring, skylights, and multiple private suites. Residential features include a spacious kitchen with an island and stainless appliances, exposed brick, tall windows, a primary suite with a walk-in closet and soaking tub, a laundry room, and a private balcony. A partially finished basement provides additional space.

Built in 1875, the brick building is located on the square in downtown Newton, Iowa.

Key Highlights

• 6,204 square feet across commercial and residential space
• Ground‑floor commercial area has display windows, skylights, hardwood floors, and multiple private suites
• Upstairs residence includes an island kitchen, stainless appliances, exposed brick, and tall windows

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$63,151

Cap Rate

9.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,263,020 $1.3M

Cap Rate 7%

$902,157 $902.2K

Cap Rate 9%

$701,678 $701.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,204 SF

Gross rent

$117.6K $18.96/SF

− Vacancy

−$16.6K −$2.67/SF

EGI

$101.0K $16.29/SF

− OpEx

−$37.9K −$6.11/SF

NOI

$63.2K $10.18/SF

Area

Jasper County, IA

Vacancy

14.10%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,263,020

Cap Rate 7%

$902,157

Cap Rate 9%

$701,678

Alternative Uses

Best Use

Retail

$1.14M

$997.5K – $1.33M (±1% cap)

NOI $79,796 @ 7.0% cap · market cap 11.40%

Second Best

Mixed Use

$902.2K

$789.4K – $1.05M (±1% cap)

NOI $63,151 @ 7.0% cap · market cap 9.02%

Theoretical Best

Flex RnD

$5.97M

$5.23M – $6.97M (±1% cap)

NOI $418,051 @ 7.0% cap · market cap 59.72%

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

Storefront properties

Suggested Use

Top Pick Dental Office Law Firm Big Box & Wholesale Store Restaurant Gym & Fitness Center HVAC Service

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

852

Businesses Nearby

Explore this area Business Placement

Demographics for 50208, IA

20,918

Population

8,919

Households

2.3

Avg Household Size

42

Median Age

17%

College-Educated

91%

High-School Grad

158.5 sq mi

ZIP Area

132

Density / Sq Mi

$61,064

Median Household Income

$37,490

Median Earnings

$830

Median Rent

$161,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial space with display windows and private suites sits below a separate upstairs residence.

Where is this mixed-use property located?

The property is located at 112 N 2nd Avenue W Newton, IA.

What is the asking price?

The asking price for this property is $700,000.

What are key features of this property?

This property features: 6,204 square feet across commercial and residential space; Ground‑floor commercial area has display windows, skylights, hardwood floors, and multiple private suites; Upstairs residence includes an island kitchen, stainless appliances, exposed brick, and tall windows