12,000 SF Build-to-Spec
For Sale
$1,680,000
116 Greenfield Drive, Tiffin, IA 52340
New commercial condo warehouse with customizable floor plans and 12' x 14' garage doors per unit.
Property Size12,000 SF
Price / SF$140
Days on Market33
Property Features for 116 Greenfield Drive
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Commercial
Zoning
M2
Additional Details
Highway Access
Yes
Clear Height
16 ft
Amenities
Concrete
Yes
No
Building,See Remarks
Public
condo
Building Details
Year Built
2026
Listing Agency:
GLD COMMERCIAL
(319) 538-7671
Listed By:
Star Horak
(319) 538-7671
Source:
Pinnaclerealtyia
Added: Jul 22
Changed: Aug 23
Last Checked: Aug 23 at 2:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of GLD COMMERCIAL
Investment Insights
Based on property information with market context.
New construction commercial condo building to be built to tenant or buyer specifications. The project is designed with an available floor plan and the ability to customize unit layouts, including walls and unit sizes. Each unit is planned to include a restroom, gas heaters, and 12' x 14' garage doors.
The property is located off I-80 and Ireland Drive/Roberts Ferry Road in Tiffin. Site and condo documentation, including floor plan and site plan, is available in the associated docs.
Planned building features include 16' sidewalls per unit. Final CAM details are TBD, and the project will be built by Corridor Builders, with photos shown from similar properties.
The property is located off I-80 and Ireland Drive/Roberts Ferry Road in Tiffin. Site and condo documentation, including floor plan and site plan, is available in the associated docs.
Planned building features include 16' sidewalls per unit. Final CAM details are TBD, and the project will be built by Corridor Builders, with photos shown from similar properties.
Key Highlights
- New construction commercial condo building (to be built) totaling 12,000 SF
- Customizable floor plans; walls and unit sizes can be changed to fit your needs
- Each unit includes 12' x 14' garage doors and 16' sidewalls
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$93,514
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
—
—
no second resolved use
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.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
63
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- QUALITY CARE STORAGE COMPANY — Tiffin, IA 52240
- MegaStorage Tiffin — 300 Greenfield Dr, Tiffin, IA 52340
- Moove In Self Storage — 103 Village Dr, Tiffin, IA 52340
Frequently Asked Questions
What type of property is this?
Warehouse - New commercial condo warehouse with customizable floor plans and 12' x 14' garage doors per unit.
Where is this warehouse located?
The property is located at 116 Greenfield Drive 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: New construction commercial condo building (to be built) totaling 12,000 SF; Customizable floor plans; walls and unit sizes can be changed to fit your needs; Each unit includes 12' x 14' garage doors and 16' sidewalls
