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    Evansdale Commercial Property with Truck Hoist Title is generated by Realmo AI

    121 Brovan Boulevard, Evansdale, IA 50707

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    Pending
    $320,000

    COMMERCIAL - Evansdale, IA

    Type:Office
    Lot size:
    0.99 Acres
    Added:
    May 30, 2025
    Days on Market:
    354
    Last Refresh:
    May 18 at 1:06 am

    Property Features for 121 Brovan Boulevard

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Zoning
    C-3
    Standard status
    Pending
    APN
    891232178013
    Lot size
    0.99 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    J AND J ADDITION ALL LOT 17 EXC COM AT NW COR LOT 17 TH SELY ALONG NELY LINE LOT 17 TO A PT WHICH IS ON THE SWLY EXTENSION OF THE LINE BETWEEN LOTS 5 AND 6 J AND J ADDITION TH SWLY ALONG SAID EXTENDED LINE TO A PT WHICH IS 107.57 FT NELY OF THE S LIN E OF
    Tax Annual Amount
    2298

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Oil

    Building Details

    Year built
    1982
    Flooring type
    Concrete
    Building materials
    Block, Steel/ST Fram
    Roof type
    Metal

    We can help!

    Listing Contact
    Betty Wroe
    Betty Wroe

    Listing agent Betty Wroe License #S65960000

    Listing office Oakridge Real Estate 3313 Terrace Drive, Cedar Falls, IA

    Listing date May 30, 2025

    MLS# 20252504

    Copyright © 2026 Northeast Iowa Regional Board 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.

    HighLights

    • Heavy‑duty hoist capable of lifting a semi‑truck.
    • Features three 14 ft overhead doors and an in‑ground service pit.
    • Large fenced yard and ample parking on .99 acres (two parcels).
    • Prime Evansdale location with easy access to I‑380 and Hwy 20.
    • Approximately 4,000 sq ft main floor with updated LED lighting.
    • Includes designated office space with private bathroom, plus a kitchen/break room and storage upstairs.

    Overview

    Located in Evansdale, near I-380 and Hwy 20, this commercial property includes two parcels totaling 0.99 acres, providing ample parking space and a large fenced yard. The building, previously used as a semi-truck repair shop, features two entrances. Inside, there is a designated office space with a private bathroom, and another bathroom with a shower in the main area. The property includes three 14 ft overhead doors, an in-ground service pit, and a heavy-duty hoist capable of lifting a semi-truck. Upstairs, there is a designated kitchen/break room and an additional storage room. The main floor offers nearly 4,000 sq ft of space, suitable for storage or tools. New updated LED lighting has been installed on the main floor. An additional trailer is included. The property is zoned C-3 and could be suitable for auto shops, automotive properties, or retail properties.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • River Forest Truck Repair — 121 Brovan Blvd, Evansdale, IA 50707
    • Kevins Auto Service — 3779 lafayette rd, evansdale, ia 50707
    • Eurosport Motors — 3816 Lafayette Rd, Evansdale, IA 50707
    • Weber&Hazlet Automotive — 845 Central Ave, Evansdale, IA 50707
    • Holmes's mobile maintenance and repair services — 115 Central Ave, Evansdale, IA 50707

    Location Insight

    • Map
    • Local Demand
    City
    Evansdale
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.289798
    Latitude
    42.476888

    FAQs

    What type of property is this?
    Auto shop - Commercial property in Evansdale with truck hoist and ample parking.
    Where is this auto shop located?
    The property is located at 121 Brovan Boulevard Evansdale, IA.
    What is the asking price?
    The asking price for this property is $320,000.
    What are key features of this property?
    This property features: Heavy‑duty hoist capable of lifting a semi‑truck.; Features three 14 ft overhead doors and an in‑ground service pit.; Large fenced yard and ample parking on .99 acres (two parcels).
    (319) 215-5945
    We can help!
    Listing Contact
    Betty Wroe
    Betty Wroe
    Real Estate License ID: S65960000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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