Building Details

Year Built 2023

Listing Agency: Watts Group Realty Show Phone

Listed By: Juliana Corona Show Phone

Source: Pinnaclerealtyia

Added: Apr 2 Changed: Oct 15 Last Checked: Oct 20 at 6:35PM

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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 Watts Group Realty

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Investment Insights

Based on property information with market context.

This newly available flex warehouse condo is offered for sale with immediate possession. The unit includes drive-through access and two 12' x 14' garage doors. It also features 16' sidewalls and one restroom, along with gas heaters.

The condos are located off I-80 and Ireland Drive/Roberts Ferry Road in Tiffin, providing convenient regional access for business operations.

CAM is listed as $102 per month for the unit.

Key Highlights

• 1,560 SF newly built commercial flex warehouse condo (Year Built: 2023)
• Drive‑through access with two 12' x 14' garage doors
• 16' sidewalls for the warehouse space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,157

Cap Rate

5.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$243,140 $243.1K

Cap Rate 7%

$173,671 $173.7K

Cap Rate 9%

$135,078 $135.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,560 SF

Gross rent

$15.0K $9.60/SF

− Vacancy

−$674 −$0.43/SF

EGI

$14.3K $9.17/SF

− OpEx

−$2.1K −$1.38/SF

NOI

$12.2K $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 Rate 5%

$243,140

Cap Rate 7%

$173,671

Cap Rate 9%

$135,078

Alternative Uses

Best Use

Warehouse

$173.7K

$152.0K – $202.6K (±1% cap)

NOI $12,157 @ 7.0% cap · market cap 5.79%

Second Best

Industrial

$133.4K

$116.7K – $155.6K (±1% cap)

NOI $9,337 @ 7.0% cap · market cap 4.45%

Theoretical Best

Office A

$338.9K

$296.5K – $395.4K (±1% cap)

NOI $23,722 @ 7.0% cap · market cap 11.30%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Parking Lot & Garage Building Supply Real Estate Agency Home Appliance Store Pet Grooming Service Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16 ft

Clear height

2

Drive-in doors

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Newly available flex warehouse condo with drive-through access, two 12' x 14' garage doors, and one restroom.

Where is this flex space located?

The property is located at 128 Greenfield Dr Tiffin, IA.

What is the asking price?

The asking price for this property is $209,900.

What are key features of this property?

This property features: 1,560 SF newly built commercial flex warehouse condo (Year Built: 2023); Drive‑through access with two 12' x 14' garage doors; 16' sidewalls for the warehouse space