Building Details

Year Built 2022

Listing Agency: Pinnacle Realty LLC

Listed By: Melissa Redinbaugh Show Phone

Source: Cbhrealty

Added: Oct 9 Changed: Oct 15 Last Checked: Oct 16 at 8:44AM

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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 LLC

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Investment Insights

Based on property information with market context.

This 2,400-square-foot warehouse condominium, built in 2022, pairs an open ground-level work area with a restroom and a mezzanine office. The office is air-conditioned, while a gas-fired heater serves the warehouse space.

The configuration brings warehouse and office functions together within one unit, with the workspace positioned above and apart from the main floor. It can accommodate contractor, storage, light industrial, or small-business operations.

Key Highlights

• 2,400‑square‑foot warehouse condominium
• Mezzanine office with air conditioning
• Open warehouse area with a gas heater

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,717

Cap Rate

7.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$334,340 $334.3K

Cap Rate 7%

$238,814 $238.8K

Cap Rate 9%

$185,744 $185.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$27.4K $11.40/SF

− Vacancy

−$1.6K −$0.68/SF

EGI

$25.7K $10.72/SF

− OpEx

−$9.0K −$3.75/SF

NOI

$16.7K $6.97/SF

Area

Benton County, IA

Vacancy

6.00%

Lease Rate

$11.40 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$334,340

Cap Rate 7%

$238,814

Cap Rate 9%

$185,744

Alternative Uses

Best Use

Flex RnD

$238.8K

$209.0K – $278.6K (±1% cap)

NOI $16,717 @ 7.0% cap · market cap 7.78%

Second Best

Warehouse

$218.3K

$191.0K – $254.7K (±1% cap)

NOI $15,280 @ 7.0% cap · market cap 7.11%

Theoretical Best

Specialty Retail

$347.4K

$303.9K – $405.3K (±1% cap)

NOI $24,315 @ 7.0% cap · market cap 11.31%

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

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Building Supply Storage Facility Furniture & Home Goods Grocery & Convenience Store Pet Store Pet Store & Service

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

32

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Similar Off Market Nearby

• Four Counties Storage — 1655 Commercial Dr, Walford, IA 52351

Frequently Asked Questions

What type of property is this?

Warehouse - A separate, air-conditioned mezzanine workspace complements the open warehouse floor.

Where is this warehouse located?

The property is located at 1650 Commercial Unit 203 Walford, IA.

What is the asking price?

The asking price for this property is $215,000.

What are key features of this property?

This property features: 2,400‑square‑foot warehouse condominium; Mezzanine office with air conditioning; Open warehouse area with a gas heater