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    Turnkey Ice Cream Shop Opportunity Title is generated by Realmo AI

    1309 G Avenue, Grundy Center, IA 50638

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    For Sale
    $350,000

    SINGLE_FAMILY - Grundy Center, IA

    Type:Office
    Property size:
    2,400 SF
    Lot size:
    0.33 Acres
    Price / SF:
    $145/SF
    Added:
    Apr 27, 2026
    Days on Market:
    30
    Last Refresh:
    May 26 at 8:06 pm

    Property Features for 1309 G Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    Commercial
    Standard status
    Active
    APN
    871712180001
    Size
    2,400 SF
    Lot size
    0.33 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    GRUNDY CENTER, LIBERTY PARK ADDITION, BLK 5 LOT 10 & 11
    Tax Annual Amount
    2128

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Hot Water(Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1955
    Flooring type
    Concrete, Tile
    Building materials
    Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Matthew Wikert
    Matthew Wikert

    Listing agent Matthew Wikert License #S62703000

    Listing office RE/MAX Concepts - Cedar Falls 4800 University Avenue RE/MAX Concepts, Cedar Falls, IA

    Listing date Apr 27, 2026

    MLS# 20261738

    Copyright © 2026 Northeast Iowa Regional Board 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.

    HighLights

    • Turnkey ice cream shop ready for immediate operation with existing tenant.
    • High‑visibility location in a high‑traffic area near Brother's Market and the Aquatic Center.
    • Over 2,400 square feet of versatile commercial space, including a garage and bathroom.
    • Extensive recent updates: electrical, furnace, air conditioning, plumbing, and a newly installed metal roof.
    • Ample paved parking and excellent accessibility.
    • Land and building included in the sale, providing long‑term investment value.

    Overview

    This commercial property presents an opportunity for investors and entrepreneurs. The property is a fully equipped ice cream shop ready for immediate operation, offering a turnkey setup with income potential and an existing tenant. The property includes the land and building. The property features over 2,400 square feet of commercial space, including a garage and bathroom. Recent updates include electrical, furnace, air conditioning, plumbing, and a newly installed metal roof. The property is zoned for commercial use. Ample paved parking and accessibility enhance the site's suitability for various business uses. Located in a high-visibility, high-traffic area near Brother's Market and the Aquatic Center, the property benefits from strong exposure and steady customer flow. The lot size is 0.33 acres. The property is located in Grundy Center, Iowa.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rob's Heating & Cooling HVAC Service Sweet Tooth Icy ... Grocery & Convenience Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Grundy Center
    County
    Grundy
    State
    Iowa
    Longitude
    -92.781207
    Latitude
    42.361883

    Nearby Similar for Sale

    • $620,690
      9,014 SF

      Freestanding Building in Grundy Center

      9,014 SF building occupied by Dollar General since 2004.
      2009 Commerce Drive, Grundy Center, IA, 50638
      View Details
    • $562,500
      9,014 SF

      Freestanding Retail Building in Iowa

      9,014 SF building occupied by Dollar General in Grundy Center.
      2009 Commerce Dr, Grundy Center, IA 50638
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Fully equipped ice cream shop with tenant in place for sale.
    Where is this conventional restaurant located?
    The property is located at 1309 G Avenue Grundy Center, IA.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Turnkey ice cream shop ready for immediate operation with existing tenant.; High‑visibility location in a high‑traffic area near Brother's Market and the Aquatic Center.; Over 2,400 square feet of versatile commercial space, including a garage and bathroom.
    (319) 823-0714
    We can help!
    Listing Contact
    Matthew Wikert
    Matthew Wikert
    Real Estate License ID: S62703000
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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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