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    Updated Commercial Building in Elkader Title is generated by Realmo AI

    133 S Main Street, Elkader, IA 52043

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    For Sale
    $152,000

    COMMERCIAL - Elkader, IA

    Property size:
    1,650 SF
    Price / SF:
    $92/SF
    Added:
    May 10, 2026
    Days on Market:
    9
    Last Refresh:
    May 18 at 12:06 am

    Property Features for 133 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2
    Parking
    7
    Basement
    Full
    Standard status
    Active
    APN
    25-23-317-011
    Size
    1,650 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1954
    Floors in Building
    1
    Flooring type
    Concrete, Wood
    Building materials
    Concrete
    Roof type
    Rubber

    We can help!

    Listing Contact
    Kayla Aulwes
    Kayla Aulwes

    Listing agent Kayla Aulwes

    Listing office EXIT Realty Driftless Group 227 Center St, Elgin, IA

    Listing date May 10, 2026

    MLS# 154595

    Copyright © 2026 East Central Iowa Association 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

    • Prime downtown Elkader location on Main Street in a vibrant, tourism‑driven community.
    • Versatile 1,650 sq ft main level suitable for diverse business ventures.
    • Recently remodeled rear portion with new flooring, lighting, updated bathrooms, and fresh finishes.
    • Basement with potential for additional retail, event space, or unique business concept.
    • Attractive storefront with large windows and a wood‑and‑glass entry door.
    • Eligibility for Main Street Iowa program benefits (grants, business assistance, architectural support).

    Overview

    Located in the heart of downtown Elkader on Main Street, this updated commercial building offers an opportunity to own property in northeast Iowa. The main level features approximately 1,650 square feet, suitable for various business ventures including retail, office space, a showroom, dance studio, restaurant, or boutique. The exterior features large storefront windows and a wood-and-glass entry door. The rear portion of the building has been remodeled with new flooring and lighting, updated bathrooms, car siding, fresh paint, and a basement dehumidifier. This flexible area is suitable for offices, expanded retail space, or creative business use. Additional highlights include light fixtures, mixed hardwood flooring, granite countertops, shiplap accents, central air, two breaker panels, and two half bathrooms. The basement offers possibilities for additional retail space, a speakeasy-style venue, studio space, or event area. The property can transition to suit a wide range of businesses. Positioned along the Turkey River, the building offers the potential to add rear windows or a door to take advantage of river views. As one of 50 Iowa communities designated through the Main Street Iowa program, downtown property owners may have access to resources including grants, business assistance, architectural support, and revitalization programs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tiffany & Weller Clothing & Fashion Store Elkader Senior Dining ... Community Center

    Suggested Use

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

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

    Similar Places Nearby

    • Elkader Floral Shop — 129 N Main St, Elkader, IA 52043

    Location Insight

    • Map
    • Local Demand
    City
    Elkader
    County
    Clayton
    State
    Iowa
    Longitude
    -91.403564
    Latitude
    42.85409

    FAQs

    What type of property is this?
    Storefront property - Updated commercial building in downtown Elkader, ideal for various businesses.
    Where is this storefront property located?
    The property is located at 133 S Main Street Elkader, IA.
    What is the asking price?
    The asking price for this property is $152,000.
    What are key features of this property?
    This property features: Prime downtown Elkader location on Main Street in a vibrant, tourism‑driven community.; Versatile 1,650 sq ft main level suitable for diverse business ventures.; Recently remodeled rear portion with new flooring, lighting, updated bathrooms, and fresh finishes.
    (563) 608-0862
    We can help!
    Listing Contact
    Kayla Aulwes
    Kayla Aulwes
    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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