Building Details

Year Built 2023

Buildings 1

Listing Agency: Keller Williams Realty GDM

Listed By: Matthew Fischer (386) 843-4265 Show Phone

Source: Desmoineshomesforsale

Added: Apr 28, 2025 Changed: Oct 1 Last Checked: Oct 5 at 6:54PM

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Investment Insights

Based on property information with market context.

Built in 2023, this mixed-use commercial property combines an office and kitchenette area with a substantial garage component. The 3,200-square-foot building includes an 820-square-foot office/kitchenette area and a 2,380-square-foot garage, creating a practical configuration for retail, automotive, or mechanic-related operations. A bay door and auto lift support vehicle access and service activities, while on-site parking accommodates customers and staff.

The property occupies 0.33 acres at 204 S Main St in Downtown Woodward, Iowa. Its existing improvements provide a combination of administrative, customer-facing, and garage space within one commercial asset.

Key Highlights

• 3,200‑square‑foot mixed‑use commercial property built in 2023
• 820‑square‑foot office/kitchenette area
• 2,380‑square‑foot garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,525

Cap Rate

7.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$650,500 $650.5K

Cap Rate 7%

$464,643 $464.6K

Cap Rate 9%

$361,389 $361.4K

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$48.0K $15.00/SF

− Vacancy

−$1.5K −$0.48/SF

EGI

$46.5K $14.52/SF

− OpEx

−$13.9K −$4.36/SF

NOI

$32.5K $10.16/SF

Area

Dallas County, IA

Vacancy

3.20%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$650,500

Cap Rate 7%

$464,643

Cap Rate 9%

$361,389

Alternative Uses

Best Use

Retail

$464.6K

$406.6K – $542.1K (±1% cap)

NOI $32,525 @ 7.0% cap · market cap 7.65%

Second Best

Mixed Use

$377.1K

$330.0K – $440.0K (±1% cap)

NOI $26,400 @ 7.0% cap · market cap 6.21%

Theoretical Best

Flex RnD

$3.08M

$2.70M – $3.59M (±1% cap)

NOI $215,629 @ 7.0% cap · market cap 50.74%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Heartland Motor Company Car Dealership Flocks 'N Feathers ... Specialty Food Shop

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Electrical Service Garden Center Furniture & Home Goods Restaurant

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

89

Businesses Nearby

Explore this area Business Placement

Demographics for 50276, IA

2,454

Population

899

Households

2.7

Avg Household Size

40

Median Age

17%

College-Educated

97%

High-School Grad

82.4 sq mi

ZIP Area

30

Density / Sq Mi

$92,682

Median Household Income

$39,186

Median Earnings

$484

Median Rent

$243,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Recently built commercial property combines office, kitchenette, garage, and vehicle-service functionality.

Where is this mixed-use property located?

The property is located at 204 S Main St Woodward, IA.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: 3,200‑square‑foot mixed‑use commercial property built in 2023; 820‑square‑foot office/kitchenette area; 2,380‑square‑foot garage