Expanded Industrial Warehouse
For Sale
Contact for pricing
Pending
1303 N 56th St, Clear Lake, IA 50428
Modern warehouse facility on nearly two acres with HWY Commercial zoning for flexible industrial use.
Property Size11,028 SF
Lot Size1.96 Acres
Days on Market98
Property Features for 1303 N 56th St
General Information
Standard status
Pending
Size
11,028 SF
Lot size
1.96 Acres
Property subtype
Industrial
Zoning
HWY Commercial
Building Details
Year Built
2005
Year Renovated
2023
Listing Agency:
Schoneman Realtors
Listed By:
Brett Schoneman · License #43980000
(641) 423-0500
Source:
Crexi
Added: Jun 2
Changed: Aug 8
Last Checked: Jul 24 at 3:48PM
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 Schoneman Realtors
Investment Insights
Based on property information with market context.
This expanded industrial warehouse facility totals approximately 11,028 SF and sits on 1.96 acres. Originally built in 2005 and expanded in 2023, the property is described as modern and well-maintained, with the added improvements supporting today’s operational needs. The expansive site is designed to support day-to-day logistics with maneuverability, parking, and outdoor use potential.
Located at 1303 N 56th St in Clear Lake, the property is positioned for visibility and commercial accessibility. With the combination of a warehouse building and substantial acreage, the site layout is built to accommodate on-site operations and vehicle movement without feeling constrained.
For buyers or tenants, the HWY Commercial zoning provides flexibility for industrial use cases that benefit from a dedicated warehouse environment and an outdoor component. The 2023 expansion, along with the property’s overall condition and site size, can support businesses looking for a functional warehouse facility with room to operate on the property.
Located at 1303 N 56th St in Clear Lake, the property is positioned for visibility and commercial accessibility. With the combination of a warehouse building and substantial acreage, the site layout is built to accommodate on-site operations and vehicle movement without feeling constrained.
For buyers or tenants, the HWY Commercial zoning provides flexibility for industrial use cases that benefit from a dedicated warehouse environment and an outdoor component. The 2023 expansion, along with the property’s overall condition and site size, can support businesses looking for a functional warehouse facility with room to operate on the property.
Key Highlights
- Modern warehouse facility built in 2005, expanded in 2023, offering approximately 11,028 SF
- Located on 1.96 acres with HWY Commercial zoning for flexible industrial use
- High‑visibility property with expansive site for maneuverability, parking, and outdoor use potential
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,615
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,552,300
$1.6M
Cap Rate 7%
$1,108,786
$1.1M
Cap Rate 9%
$862,389
$862.4K
Market Conditions
NOI Build-Up for 11,028 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$99.3K $9.00/SF
− Vacancy
−$7.9K −$0.72/SF
EGI
$91.3K $8.28/SF
− OpEx
−$13.7K −$1.24/SF
NOI
$77.6K $7.04/SF
Area
Cerro Gordo County, IA
Vacancy
8.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,552,300
Cap Rate 7%
$1,108,786
Cap Rate 9%
$862,389
Alternative Uses
Best Use
Warehouse
$1.11M
$970.2K – $1.29M
NOI $77,615 @ 7.0% cap · market cap 5.75%
Second Best
Industrial
$913.1K
$799.0K – $1.07M
NOI $63,918 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$2.77M
$2.42M – $3.23M
NOI $193,782 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50428, IA
9,290
Population
5,630
Households
1.7
Avg Household Size
50
Median Age
32%
College-Educated
97%
High-School Grad
117.3 sq mi
ZIP Area
79
Density / Sq Mi
$72,932
Median Household Income
$42,235
Median Earnings
$769
Median Rent
$253,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Modern warehouse facility on nearly two acres with HWY Commercial zoning for flexible industrial use.
Where is this warehouse located?
The property is located at 1303 N 56th St Clear Lake, IA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Modern warehouse facility built in 2005, expanded in 2023, offering approximately 11,028 SF; Located on 1.96 acres with HWY Commercial zoning for flexible industrial use; High‑visibility property with expansive site for maneuverability, parking, and outdoor use potential
