Flex Space Building with
1204 Terrace Park Blvd Milford, IA 51351
1204 Terrace Park Blvd, Milford, IA, 51351
$549,000
For Sale
$549,000
Large flex building with expansive main-level space and an upstairs efficiency apartment for added convenience.
Property Size8,000 SF
Price / SF$68.63
Days on Market104
Property Features for 1204 Terrace Park Blvd
General Information
- Standard status
- Active
- Size
- 8,000 SF
Listing agency
Real Estate Unlimited
(712) 461-0815
Listed by
Shelby Eddy
(712) 461-0815
Source
Exprealty
Added: Apr 9 Updated: Jul 20 at 3:00AM Checked: Jul 20 at 3:00AM
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 Real Estate Unlimited
Investment Insights
Based on property information with market context.
This flex space building features an expansive main level with versatile room for a business, office setup, or a combination of uses. Upstairs provides additional space suited for flex use and includes an efficiency apartment.
The property is located near the lake and Arnold’s Park, with visibility and convenient access in a highly desirable area. The layout supports multiple ways to organize day-to-day operations and upstairs space within the same building.
The property is located near the lake and Arnold’s Park, with visibility and convenient access in a highly desirable area. The layout supports multiple ways to organize day-to-day operations and upstairs space within the same building.
Key Highlights
- Main level offers over 8,000 sq ft of versatile space for business, office, or other uses
- Upstairs provides additional square footage for entertaining or flex space
- Includes an upstairs efficiency apartment for added convenience or income
Local Financial Insights For Office B
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 | $56.6k | $7.08 |
| − Vacancy | −$6.7k | −$0.84 |
| EGI | $50.0k | $6.24 |
| − OpEx | −$12.5k | −$1.56 |
| NOI | $37.5k | $4.68 |
8,000 SF · lease $7.08/SF/yr · vacancy 11.80% · expense 25.00%
Alternative Uses
Best Use
Flex RnD
$970.0K
$848.7K – $1.13M
NOI $67,897 @ 7.0% cap · market cap 12.37%
Second Best
Mixed Use
$905.1K
$792.0K – $1.06M
NOI $63,360 @ 7.0% cap · market cap 11.54%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,496 @ 7.0% cap · market cap 22.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Large flex building with expansive main-level space and an upstairs efficiency apartment for added convenience.
Where is this flex space located?
The property is located at 1204 Terrace Park Blvd Milford, IA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Main level offers over 8,000 sq ft of versatile space for business, office, or other uses; Upstairs provides additional square footage for entertaining or flex space; Includes an upstairs efficiency apartment for added convenience or income
