Industrial Condo with Garage
For Sale
$195,000
132 Greenfield Drive Unit B, Tiffin, IA 52340
Compact industrial condos offering dedicated garage access, gas heat, and in-unit restroom facilities.
Property Size1,560 SF
Price / SF$125
Days on Market201
Property Features for 132 Greenfield Drive Unit B
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Commercial
Zoning
M2
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,771
Amenities
Concrete
Yes
No
See Remarks
Public
condo
Building Details
Year Built
2023
Listing Agency:
IOWA REALTY
(319) 393-0900
Listed By:
Ali Rashid
(319) 333-2886
Source:
Pinnaclerealtyia
Added: Apr 2
Changed: Oct 15
Last Checked: Oct 19 at 3:57AM
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 IOWA REALTY
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Investment Insights
Based on property information with market context.
New commercial condos for sale at 132 Greenfield Dr in Tiffin, offering individual industrial units in a condo format. Each unit is 1,560 square feet and includes a single restroom. Vehicle access is provided by a 12' x 14' garage door, with 16' sidewalls to support practical warehouse storage and light distribution needs. Units are equipped with gas heaters, making them suitable for year-round operations.
The property is located off I-80 and Ireland Drive/Roberts Ferry Road, providing straightforward regional access for crews, deliveries, and service traffic. While the listing includes photos of a similar property, it describes the available condo features consistently across the units.
These units are a practical fit for small operators that want their own controlled industrial space without committing to a larger standalone facility. The combination of garage-door access, solid ceiling height, and on-site restroom supports day-to-day workflows for warehousing, light industrial use, and other back-of-house activities. Current CAM is noted as $102 per month.
The property is located off I-80 and Ireland Drive/Roberts Ferry Road, providing straightforward regional access for crews, deliveries, and service traffic. While the listing includes photos of a similar property, it describes the available condo features consistently across the units.
These units are a practical fit for small operators that want their own controlled industrial space without committing to a larger standalone facility. The combination of garage-door access, solid ceiling height, and on-site restroom supports day-to-day workflows for warehousing, light industrial use, and other back-of-house activities. Current CAM is noted as $102 per month.
Key Highlights
- New 2023 commercial condos in Tiffin located off I‑80 and Ireland Dr/Roberts Ferry Rd
- 1,560 SF per unit with dedicated garage access
- Each unit has a 12' x 14' garage door and 16' sidewalls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,337
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,740
$186.7K
Cap Rate 7%
$133,386
$133.4K
Cap Rate 9%
$103,744
$103.7K
Market Conditions
NOI Build-Up for 1,560 SF
Gross rent
$14.0K $9.00/SF
− Vacancy
−$702 −$0.45/SF
EGI
$13.3K $8.55/SF
− OpEx
−$4.0K −$2.56/SF
NOI
$9.3K $5.98/SF
Area
Johnson County, IA
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,740
Cap Rate 7%
$133,386
Cap Rate 9%
$103,744
Alternative Uses
Best Use
Industrial
$133.4K
$116.7K – $155.6K
NOI $9,337 @ 7.0% cap · market cap 4.79%
Second Best
Flex RnD
$100.0K
$87.5K – $116.7K
NOI $6,999 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$338.9K
$296.5K – $395.4K
NOI $23,722 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
16 ft
Clear height
1
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Compact industrial condos offering dedicated garage access, gas heat, and in-unit restroom facilities.
Where is this flex space located?
The property is located at 132 Greenfield Drive Unit B Tiffin, IA.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: New 2023 commercial condos in Tiffin located off I‑80 and Ireland Dr/Roberts Ferry Rd; 1,560 SF per unit with dedicated garage access; Each unit has a 12' x 14' garage door and 16' sidewalls
