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    Neighborhood Center Retail Space Title is generated by Realmo AI

    1300 TURNBERRY DR, Norwalk, IA 50211

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    Endcap-style storefront availability in a newly constructed neighborhood center on Norwalk’s main retail corridor.

    Type:Retail, Office
    Property size:
    2,036 SF
    Added:
    May 27, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 5:02 am

    Property Features for 1300 TURNBERRY DR

    General Information

    Standard status
    Active
    Size
    2,036 SF
    Property subtype
    Retail, Office

    Building Details

    Year Built
    2024

    Spaces For Lease

    at 1300 TURNBERRY DR Contact us

    We can help!

    Listing Contact
    Jordan Kleinschmidt

    Listing agent Jordan Kleinschmidt License #66702000

    Listing office Hansen Real Estate

    Listing date May 27, 2026

    Source Crexi

    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 Hansen Real Estate

    HighLights

    • 2,036 SF endcap‑style retail storefront available in a newly constructed neighborhood center
    • Located along Highway 28 on Norwalk’s primary commercial corridor
    • New retail space in 2024 neighborhood center
    • Growing co‑tenancy includes Domino’s, N Nails, and Magnolia Connection
    • Strong visibility and easy access along Highway 28

    Overview

    Turnberry Square offers one final available retail storefront totaling 2,036 square feet in a newly constructed neighborhood center. The space is presented as retail space within the center and is being offered for rent.

    The property is located along Highway 28 in Norwalk, Iowa, described as the city’s primary commercial corridor. The center is positioned to serve a growing co-tenancy environment, with businesses including Domino’s, N Nails, and Magnolia Connection. Additional remarks indicate the area is part of a rapidly growing suburb and is near the Norwalk Central development area.

    This offering is best suited for retailers seeking a ground-floor storefront within a newer neighborhood center setting. With the center already operating with established co-tenants and direct access to Highway 28, the space can provide a practical location for a tenant looking to open in an active retail environment within the Norwalk market.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norwalk
    County
    Warren
    State
    Iowa
    Longitude
    -93.6813786
    Latitude
    41.4919243

    Nearby Similar for Lease

    • Contact for pricing

      Retail Center on Sunset Drive

      Highly visible retail center with exceptional exposure for tenants.
      1031 Sunset Dr, Norwalk, IA 50211
      View Details
    • $27 SF/Yr
      10,265 SF

      Retail/Restaurant Space in Norwalk Central

      Multi-tenant building suitable for retail, restaurants, medical, and office tenants.
      1400 Chatham Avenue, Norwalk, IA
      View Details
    • $27 SF/Yr

      Mixed-Use Development with Sports Campus

      Mixed-use development featuring a 20+ acre sports campus.
      1400 Chatham Ave, Norwalk, IA 50211
      View Details

    FAQs

    What type of property is this?
    Storefront property - Endcap-style storefront availability in a newly constructed neighborhood center on Norwalk’s main retail corridor.
    Where is this storefront property located?
    The property is located at 1300 TURNBERRY DR Norwalk, IA.
    What are key features of this property?
    This property features: 2,036 SF endcap‑style retail storefront available in a newly constructed neighborhood center; Located along Highway 28 on Norwalk’s primary commercial corridor; New retail space in 2024 neighborhood center
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jordan Kleinschmidt
    Real Estate License ID: 66702000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    1300 TURNBERRY DR, NORWALK, IA 50211
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