To-Be-Built Commercial Condo
116 Greenfield Dr Tiffin, IA 52340
New
For Sale
$1,680,000
COMMERCIAL - Tiffin, IA
Property Size12,000 SF
Lot Size0.28 Acres
Price / SF$140
Days on Market3
Property Features for 116 Greenfield Dr
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Property condition
- Under Construction
- Zoning
- M2
- Standard status
- Active
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Year
- 2024
Utilities
- Heating system
- Natural Gas
Building Details
- Year built
- 2026
- Flooring type
- Concrete
- Building materials
- Frame
- Roof type
- Metal
Listing Agency:
GATEWAY ACCESS REALTY
(319) 665-4300
Listed By:
Karla Davis
(319) 981-0890
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 24 at 1:06PM
MLS# 202604639
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.
Investment Insights
Based on property information with market context.
This to-be-built commercial condo warehouse will total 12,000 square feet and can be constructed to tenant or buyer specifications. A floor plan is available, with the ability to customize walls and unit sizes. Each unit is planned to include one restroom, gas heaters, and 12’x14’ garage doors. The building is being designed with 16’ sidewalls, and photos shown are of similar properties.
The property is located at 116 Greenfield Dr in Tiffin, Iowa, with access described as being off I-80 and Ireland Drive/Roberts Ferry Road. Site planning, condo documentation, and a unit floor plan are referenced in the associated documents, and condo documents are available upon request.
Corridor Builders is listed as the builder, and CAM is noted as TBD. For details on the contemplated condo layout and customization options, contact the listing agents.
The property is located at 116 Greenfield Dr in Tiffin, Iowa, with access described as being off I-80 and Ireland Drive/Roberts Ferry Road. Site planning, condo documentation, and a unit floor plan are referenced in the associated documents, and condo documents are available upon request.
Corridor Builders is listed as the builder, and CAM is noted as TBD. For details on the contemplated condo layout and customization options, contact the listing agents.
Key Highlights
- Commercial condo building to be built by Corridor Builders (2026 construction).
- Total size: 12,000 SF with a floor plan available to customize layout and unit sizes.
- Each unit includes a 12' x 14' garage door and one restroom per unit.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $115.2k | $9.60 |
| − Vacancy | −$5.2k | −$0.43 |
| EGI | $110.0k | $9.17 |
| − OpEx | −$16.5k | −$1.38 |
| NOI | $93.5k | $7.79 |
12,000 SF · lease $9.60/SF/yr · vacancy 4.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.34M
$1.17M – $1.56M
NOI $93,514 @ 7.0% cap · market cap 5.57%
Second Best
Industrial
$1.03M
$897.8K – $1.20M
NOI $71,820 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$2.61M
$2.28M – $3.04M
NOI $182,477 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
FAQs
What type of property is this?
Flex space - To-be-built M2 zoned warehouse condos with 12'x14' garage doors, 16' sidewalls, and gas heaters.
Where is this flex space located?
The property is located at 116 Greenfield Dr Tiffin, IA.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: Commercial condo building to be built by Corridor Builders (2026 construction).; Total size: 12,000 SF with a floor plan available to customize layout and unit sizes.; Each unit includes a 12' x 14' garage door and one restroom per unit.
