Building Details

Year Built 2023

Listing Agency: GLD Commercial Real Estate Advisors Show Phone

Listed By: Cole Breitbach Show Phone

Source: Pinnaclerealtyia

Added: Apr 2 Changed: Oct 7 Last Checked: Oct 16 at 6:28AM

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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 GLD Commercial Real Estate Advisors

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Investment Insights

Based on property information with market context.

Unit D is a 3,120-square-foot warehouse condominium configured as a double unit. The property was built in 2023 and includes drive-through access, two 12-by-14-foot garage doors, 16-foot sidewalls, gas heaters, and one restroom serving each unit.

The commercial condominium is located in Tiffin near I-80 and the Ireland Drive/Roberts Ferry Road area. Immediate possession is available.

Key Highlights

• Unit D includes 3,120 sq. ft. in a double‑unit warehouse configuration
• Two 12'x14' garage doors provide drive‑through access
• 16' sidewalls support warehouse operations

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,314

Cap Rate

5.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$486,280 $486.3K

Cap Rate 7%

$347,343 $347.3K

Cap Rate 9%

$270,156 $270.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,120 SF

Gross rent

$30.0K $9.60/SF

− Vacancy

−$1.3K −$0.43/SF

EGI

$28.6K $9.17/SF

− OpEx

−$4.3K −$1.38/SF

NOI

$24.3K $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%

$486,280

Cap Rate 7%

$347,343

Cap Rate 9%

$270,156

Alternative Uses

Best Use

Warehouse

$347.3K

$303.9K – $405.2K (±1% cap)

NOI $24,314 @ 7.0% cap · market cap 5.79%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$677.8K

$593.1K – $790.7K (±1% cap)

NOI $47,444 @ 7.0% cap · market cap 11.30%

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

Property Analytics

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Current Use

Warehouses

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

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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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Warehouse - Warehouse condominium with drive-through access, gas heating, and restroom facilities in each unit.

Where is this warehouse located?

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

What is the asking price?

The asking price for this property is $419,900.

What are key features of this property?

This property features: Unit D includes 3,120 sq. ft. in a double‑unit warehouse configuration; Two 12'x14' garage doors provide drive‑through access; 16' sidewalls support warehouse operations