Build-to-Suit Flex
For Sale
$1,680,000
116 Greenfield Dr, Tiffin, IA 52340
Commercial Sale, Tiffin, IA
Property Size12,000 SF
Lot Size0.28 Acres
Price / SF$140
Days on Market94
Property Features for 116 Greenfield Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
M2
Directions
Ireland Drive/Roberts Ferry Road to Greenfield Drive
Subdivision
NW Quadrant
Standard status
Active
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2024
Utilities
Utilities
Phone Available
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: Oct 16
Last Checked: Oct 23 at 5:06AM
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.
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Investment Insights
Based on property information with market context.
Planned for construction, this flex-space condominium will offer 12,000 square feet in total, with unit sizes and walls subject to customization. The proposed configuration includes 12' x 14' garage doors, 16' sidewalls, one restroom per unit, natural-gas heaters, and concrete flooring. Frame construction and a metal roof are specified, with completion planned for 2026. M2 zoning applies.
The property is at 116 Greenfield Dr in Tiffin, near I-80 and Ireland Drive/Roberts Ferry Road. Phone service is available. The offering is for a commercial condominium building; the stated area is for the entire building.
The property is at 116 Greenfield Dr in Tiffin, near I-80 and Ireland Drive/Roberts Ferry Road. Phone service is available. The offering is for a commercial condominium building; the stated area is for the entire building.
Key Highlights
- 12,000‑square‑foot planned flex‑space building with customizable unit sizes and walls
- Each unit is planned with a 12' x 14' garage door and one restroom
- 16' sidewalls and natural‑gas heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,514
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,870,280
$1.9M
Cap Rate 7%
$1,335,914
$1.3M
Cap Rate 9%
$1,039,044
$1.0M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$115.2K $9.60/SF
− Vacancy
−$5.2K −$0.43/SF
EGI
$110.0K $9.17/SF
− OpEx
−$16.5K −$1.38/SF
NOI
$93.5K $7.79/SF
Area
Johnson County, IA
Vacancy
4.50%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,870,280
Cap Rate 7%
$1,335,914
Cap Rate 9%
$1,039,044
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Prospective occupants can customize unit dimensions and interior layout in a planned commercial condominium.
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: 12,000‑square‑foot planned flex‑space building with customizable unit sizes and walls; Each unit is planned with a 12' x 14' garage door and one restroom; 16' sidewalls and natural‑gas heaters
