Medical Office Property with Exam
For Sale
$1,600,000
119 Avenue O W, Fort Dodge, IA 50501
Configured for healthcare, dental, specialty clinic, wellness, professional, and service-oriented operations.
Property Size11,250 SF
Price / SF$142.22
Days on Market93
Property Features for 119 Avenue O W
General Information
Standard status
Active
Size
11,250 SF
Additional Details
Asking Price
$1,600,000
Taxes and HOA fees
Annual Taxes
$19,172
Building Details
Buildings
1
Listing Agency:
Kesterson Realty Inc
(515) 955-7714
Listed By:
Stephanie Bishop · License #S63299
(515) 227-8627
Source:
Exprealty
Added: Jun 8
Changed: Sep 7
Last Checked: Sep 7 at 2:51PM
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 Kesterson Realty Inc
Investment Insights
Based on property information with market context.
This 11,250-square-foot medical office property includes a primary suite with 10 exam rooms. The configuration is suited to healthcare providers, dental practices, specialty clinics, and wellness operations, while also accommodating professional and service-based businesses. An additional 4,500 square feet is identified as available for lease.
The property is located at 119 Avenue O W in Fort Dodge, Iowa. It is adjacent to McDonalds and near a hospital, Iowa Central Community College, and a large retirement community. The surrounding institutional and community-oriented setting supports the property's medical-office positioning.
The property is located at 119 Avenue O W in Fort Dodge, Iowa. It is adjacent to McDonalds and near a hospital, Iowa Central Community College, and a large retirement community. The surrounding institutional and community-oriented setting supports the property's medical-office positioning.
Key Highlights
- 11,250‑square‑foot medical office property
- Primary suite includes 10 exam rooms
- 4,500 sq ft available for lease
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
$123,327
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
7.71%
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%
$2,466,540
$2.5M
Cap Rate 7%
$1,761,814
$1.8M
Cap Rate 9%
$1,370,300
$1.4M
Market Conditions
NOI Build-Up for 11,250 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
$247.1K $21.96/SF
− Vacancy
−$41.5K −$3.69/SF
EGI
$205.5K $18.27/SF
− OpEx
−$82.2K −$7.31/SF
NOI
$123.3K $10.96/SF
Area
Webster County, IA
Vacancy
16.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
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%
$2,466,540
Cap Rate 7%
$1,761,814
Cap Rate 9%
$1,370,300
Alternative Uses
Best Use
Healthcare Medical
$1.76M
$1.54M – $2.06M
NOI $123,327 @ 7.0% cap · market cap 7.71%
Second Best
Office B
$1.48M
$1.30M – $1.73M
NOI $103,781 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$2.03M
$1.77M – $2.37M
NOI $141,912 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50501, IA
28,492
Population
13,198
Households
2.2
Avg Household Size
39
Median Age
20%
College-Educated
92%
High-School Grad
152.2 sq mi
ZIP Area
187
Density / Sq Mi
$66,130
Median Household Income
$36,934
Median Earnings
$779
Median Rent
$139,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for healthcare, dental, specialty clinic, wellness, professional, and service-oriented operations.
Where is this medical office space located?
The property is located at 119 Avenue O W Fort Dodge, IA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 11,250‑square‑foot medical office property; Primary suite includes 10 exam rooms; 4,500 sq ft available for lease
