Building Details

Year Built 2023

Listing Agency: IOWA REALTY Show Phone

Listed By: Ali Rashid Show Phone

Source: Pinnaclerealtyia

Added: Apr 2 Changed: Oct 16 Last Checked: Oct 16 at 6:21AM

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Investment Insights

Based on property information with market context.

Unit D is a 3,120-square-foot flex-space commercial condominium configured as a double unit. Built in 2023, the property has concrete interiors, 16-foot sidewalls, gas heaters, and one restroom per unit. Two 12' x 14' garage doors provide drive-through access for loading, storage, or flexible commercial operations.

The property is located off I-80 near Ireland Drive and Roberts Ferry Road in Tiffin, Iowa. Unit D is offered for sale with immediate possession and carries M2 zoning. The condominium format provides a defined commercial unit within a multi-unit property.

Key Highlights

• 3,120‑square‑foot double unit identified as Unit D
• Two 12' x 14' garage doors provide drive‑through access
• 16' sidewalls and gas heaters

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 Home Appliance Store Pet Grooming Service Building Supply Auto Parts Store Garden Center

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 - New commercial condominium with drive-through access, heated interiors, and M2 zoning.

Where is this flex space located?

The property is located at 128 Greenfield Drive Unit D 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: 3,120‑square‑foot double unit identified as Unit D; Two 12' x 14' garage doors provide drive‑through access; 16' sidewalls and gas heaters