Divisible Storefront
For Sale
$478,000
121 W Main Street Unit 103, Solon, IA 52333
Contiguous commercial space with flexibility for a two-unit configuration.
Property Size3,638 SF
Price / SF$131.39
Days on Market158
Property Features for 121 W Main Street Unit 103
General Information
Standard status
Active
Size
3,638 SF
Property subtype
Commercial
Lease Term
[]
Building Details
Year Built
2017
Listing Agency:
Edge Realty Group
Listed By:
Jennifer Nguyen
(319) 351-3355
Source:
Cbhrealty
Added: May 12
Changed: Oct 15
Last Checked: Oct 14 at 11:10PM
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 Edge Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2017 storefront property is offered as a single 3,638-square-foot commercial space. The existing layout is contiguous, while the property can be reconfigured into two approximately 1,819-square-foot units. The package structure allows buyers to evaluate the space as one larger commercial premises or consider separate unit configurations. The property is located at 121 W Main Street, Unit 103, in Solon, Iowa.
Key Highlights
- 3,638 SF contiguous commercial space
- Potential division into two approximately 1,819 SF units
- Marketed for sale as a package
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,471
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,420
$689.4K
Cap Rate 7%
$492,443
$492.4K
Cap Rate 9%
$383,011
$383.0K
Market Conditions
NOI Build-Up for 3,638 SF
Gross rent
$52.4K $14.40/SF
− Vacancy
−$3.1K −$0.86/SF
EGI
$49.2K $13.54/SF
− OpEx
−$14.8K −$4.06/SF
NOI
$34.5K $9.48/SF
Area
Johnson County, IA
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,420
Cap Rate 7%
$492,443
Cap Rate 9%
$383,011
Alternative Uses
Best Use
Retail
$492.4K
$430.9K – $574.5K
NOI $34,471 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$790.3K
$691.5K – $922.0K
NOI $55,321 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52333, IA
7,312
Population
2,949
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
98%
High-School Grad
85.6 sq mi
ZIP Area
85
Density / Sq Mi
$113,917
Median Household Income
$48,555
Median Earnings
$1,202
Median Rent
$347,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - Contiguous commercial space with flexibility for a two-unit configuration.
Where is this storefront property located?
The property is located at 121 W Main Street Unit 103 Solon, IA.
What is the asking price?
The asking price for this property is $478,000.
What are key features of this property?
This property features: 3,638 SF contiguous commercial space; Potential division into two approximately 1,819 SF units; Marketed for sale as a package
