Building Details

Year Built 2016

Stories 1

Listing Agency: Realty87

Listed By: Mike Esker · License #IA B41939000 Show Phone

Source: Crexi

Added: May 1 Changed: Oct 15 Last Checked: Oct 20 at 9:28PM

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Investment Insights

Based on property information with market context.

This move-in ready commercial property is well built and currently configured for health and wellness-related uses. Public remarks indicate flexibility for multiple service concepts, including chiropractic, massage therapy, salon, daycare, and dentist office.

The property is offered for sale at 131 Main Street East in Shellsburg, IA 52332.

If you are looking for a turnkey space to start operations, this site offers a practical foundation for medical office and spa-style services, with the potential for multiple professions to operate in combination, as described in the remarks.

Key Highlights

• Built in 2016 commercial property
• Move‑in ready for use by a range of health and wellness businesses

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,159

Cap Rate

3.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$283,180 $283.2K

Cap Rate 7%

$202,271 $202.3K

Cap Rate 9%

$157,322 $157.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,900 SF

Gross rent

$26.2K $13.80/SF

− Vacancy

−$2.6K −$1.38/SF

EGI

$23.6K $12.42/SF

− OpEx

−$9.4K −$4.97/SF

NOI

$14.2K $7.45/SF

Area

Benton County, IA

Vacancy

10.00%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$283,180

Cap Rate 7%

$202,271

Cap Rate 9%

$157,322

Alternative Uses

Best Use

Healthcare Medical

$202.3K

$177.0K – $236.0K (±1% cap)

NOI $14,159 @ 7.0% cap · market cap 3.78%

Second Best

Office B

$130.4K

$114.1K – $152.1K (±1% cap)

NOI $9,125 @ 7.0% cap · market cap 2.43%

Theoretical Best

Specialty Retail

$275.0K

$240.6K – $320.8K (±1% cap)

NOI $19,249 @ 7.0% cap · market cap 5.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Elizabeth Meyer A.R.N.P. Medical Clinic BRIAN A LINDO Pediatrician Julie J Hoffmnn Physician Cedar Valley Primary ... Medical Clinic Melanie Dahlhauser, ARNP Physician

Suggested Use

Top Pick Auto Repair Shop Building Supply Plumbing Service Garden Center Grocery & Convenience Store (Bike/Boat/Book/etc) 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.

Location Intelligence

Trade Area within ½ mile

93

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 52332, IA

1,995

Population

789

Households

2.5

Avg Household Size

45

Median Age

15%

College-Educated

97%

High-School Grad

39.6 sq mi

ZIP Area

50

Density / Sq Mi

$90,781

Median Household Income

$52,292

Median Earnings

$775

Median Rent

$227,800

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Medical Office Space - Well-built, move-in ready commercial property suited for a range of health and wellness services.

Where is this medical office space located?

The property is located at 131 Main Street East Shellsburg, IA.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Built in 2016 commercial property; Move‑in ready for use by a range of health and wellness businesses