Newer Warehouse
For Sale
$230,000
1650 Commercial Dr Unit 203, Cedar Rapids, IA 52351
Warehouse space in a 2022-built commercial property.
Property Size2,400 SF
Price / SF$95.83
Days on Market35
Property Features for 1650 Commercial Dr Unit 203
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Building Details
Year Built
2022
Abandoned
No
Listing Agency:
Pinnacle Realty
Listed By:
Trev Adair
Source:
Desmoineshomesforsale
Added: Jul 27
Changed: Aug 28
Last Checked: Aug 29 at 10:30AM
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 Pinnacle Realty
Investment Insights
Based on property information with market context.
This warehouse offering is identified as Unit 203 within a commercial property constructed in 2022. The property is located at 1650 Commercial Drive in Walford, Iowa.
Key Highlights
- Unit 203 at 1650 Commercial Drive, Walford, IA 52351
- Constructed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,280
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$305,600
$305.6K
Cap Rate 7%
$218,286
$218.3K
Cap Rate 9%
$169,778
$169.8K
Market Conditions
NOI Build-Up for 2,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.7K $7.80/SF
− Vacancy
−$743 −$0.31/SF
EGI
$18.0K $7.49/SF
− OpEx
−$2.7K −$1.12/SF
NOI
$15.3K $6.37/SF
Area
Cedar Rapids, IA
Vacancy
3.97%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$305,600
Cap Rate 7%
$218,286
Cap Rate 9%
$169,778
Alternative Uses
Best Use
Warehouse
$218.3K
$191.0K – $254.7K
NOI $15,280 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$347.4K
$303.9K – $405.3K
NOI $24,315 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52351, IA
1,380
Population
477
Households
2.9
Avg Household Size
40
Median Age
34%
College-Educated
97%
High-School Grad
1.8 sq mi
ZIP Area
767
Density / Sq Mi
$116,477
Median Household Income
$58,500
Median Earnings
$274,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse space in a 2022-built commercial property.
Where is this warehouse located?
The property is located at 1650 Commercial Dr Unit 203 Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Unit 203 at 1650 Commercial Drive, Walford, IA 52351; Constructed in 2022
