Building Details

Year built 2023

Flooring type Concrete

Building materials Frame

Roof type Metal

Listing Agency: GATEWAY ACCESS REALTY g***@gmail.com Show Phone

Listed By: Karla Davis Show Phone

Added: Apr 2 Changed: Oct 16 Last Checked: Oct 18 at 8:06AM

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MLS# 202602197

Copyright © 2026 Iowa City Area Association 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.

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Investment Insights

Based on property information with market context.

Unit D is a double commercial condominium totaling 3,120 square feet, with drive-through access through two 12-foot by 14-foot garage doors. The space has 16-foot sidewalls, concrete flooring, a restroom per unit, and gas heaters. The 2023 building features frame construction and a metal roof, with M2 zoning.

The property is off I-80 near Ireland Drive and Roberts Ferry Road in Tiffin, Iowa.

Key Highlights

• Double‑unit flex condominium totaling 3,120 square feet
• Drive‑through configuration with two 12'x14' garage doors
• 16' sidewalls

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

Industrial

$266.8K

$233.4K – $311.2K (±1% cap)

NOI $18,673 @ 7.0% cap · market cap 4.45%

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

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

2

Drive-in doors

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

71

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 - The 2023 commercial condominium includes natural-gas heat and a restroom in each unit.

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 $419,900.

What are key features of this property?

This property features: Double‑unit flex condominium totaling 3,120 square feet; Drive‑through configuration with two 12'x14' garage doors; 16' sidewalls