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# 202602198

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.

This 1,560-square-foot flex space is a commercial condominium built in 2023. The frame construction has concrete flooring and a metal roof, with 16-foot sidewalls, natural gas heaters, and one restroom. Two 12' x 14' garage doors provide drive-through access. The property is zoned M2 and has phone service available.

The site is off I-80 and Ireland Drive/Roberts Ferry Road in Tiffin, Iowa. Immediate possession is noted.

Key Highlights

• 1,560‑square‑foot flex space
• Two 12' x 14' garage doors with drive‑through access
• 16‑foot sidewalls

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$9,337

Cap Rate

4.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$186,740 $186.7K

Cap Rate 7%

$133,386 $133.4K

Cap Rate 9%

$103,744 $103.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,560 SF

Gross rent

$14.0K $9.00/SF

− Vacancy

−$702 −$0.45/SF

EGI

$13.3K $8.55/SF

− OpEx

−$4.0K −$2.56/SF

NOI

$9.3K $5.98/SF

Area

Johnson County, IA

Vacancy

5.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$186,740

Cap Rate 7%

$133,386

Cap Rate 9%

$103,744

Alternative Uses

Best Use

Industrial

$133.4K

$116.7K – $155.6K (±1% cap)

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

Second Best

Flex RnD

$100.0K

$87.5K – $116.7K (±1% cap)

NOI $6,999 @ 7.0% cap · market cap 3.33%

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

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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

16 ft

Clear height

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 - A newly built, single-unit commercial condo includes oversized overhead doors and natural gas heat.

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‑square‑foot flex space; Two 12' x 14' garage doors with drive‑through access; 16‑foot sidewalls