Industrial Flex Property with
New
For Sale
$549,900
1960 S 21st St, Clinton, IA 52732
Versatile commercial space combines office, garage, workshop, mezzanine storage, and M-3 industrial zoning.
Property Size2,178 SF
Price / SF$252.48
Days on Market3
Property Features for 1960 S 21st St
General Information
Standard status
Active
Size
2,178 SF
Zoning
M-3
Additional Details
Road Access
Yes
Clear Height
14.5 ft
Building Details
Year Built
2006
Listing Agency:
Coldwell Banker Howes & Jefferies REALTORS
Listed By:
Matt Brisch · License #B59416000/471.003175
(563) 242-3265
Source:
Bktchicago
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 21 at 11:46AM
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 Coldwell Banker Howes & Jefferies REALTORS
Investment Insights
Based on property information with market context.
This 2006 flex property occupies more than one acre and combines office, garage, workshop, and mezzanine storage areas. The air-conditioned workshop features 14-foot 6-inch ceilings and in-floor heating throughout the building. Interior finishes are described as clean and professional, while late-2025 exterior work added siding, roofing, gutters, fascia, soffit, LED lighting, and insulated garage doors.
The property is located at 1960 S 21st St in Clinton, Iowa, along Manufacturing Drive and less than one mile from Super Walmart. M-3 industrial zoning supports a broad range of uses. The property also includes lease income from a large billboard sign. A city redevelopment project along the corridor is expected to add an adjacent bike path and is scheduled for completion in late 2026; the city estimates approximately 15,600 vehicles per day on non-school days after completion.
The property is located at 1960 S 21st St in Clinton, Iowa, along Manufacturing Drive and less than one mile from Super Walmart. M-3 industrial zoning supports a broad range of uses. The property also includes lease income from a large billboard sign. A city redevelopment project along the corridor is expected to add an adjacent bike path and is scheduled for completion in late 2026; the city estimates approximately 15,600 vehicles per day on non-school days after completion.
Key Highlights
- More than one acre along Manufacturing Drive in Clinton, IA
- M‑3 industrial zoning
- Air‑conditioned workshop with 14‑foot 6‑inch ceilings
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
$16,445
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
2.99%
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%
$328,900
$328.9K
Cap Rate 7%
$234,929
$234.9K
Cap Rate 9%
$182,722
$182.7K
Market Conditions
NOI Build-Up for 2,178 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
$28.7K $13.20/SF
− Vacancy
−$3.4K −$1.58/SF
EGI
$25.3K $11.62/SF
− OpEx
−$8.9K −$4.07/SF
NOI
$16.4K $7.55/SF
Area
Clinton County, IA
Vacancy
12.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$328,900
Cap Rate 7%
$234,929
Cap Rate 9%
$182,722
Alternative Uses
Best Use
Flex RnD
$234.9K
$205.6K – $274.1K
NOI $16,445 @ 7.0% cap · market cap 2.99%
Second Best
Industrial
$150.3K
$131.5K – $175.4K
NOI $10,523 @ 7.0% cap · market cap 1.91%
Theoretical Best
Specialty Retail
$320.3K
$280.3K – $373.7K
NOI $22,420 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
14 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52732, IA
25,808
Population
12,911
Households
2
Avg Household Size
42
Median Age
21%
College-Educated
90%
High-School Grad
109.6 sq mi
ZIP Area
235
Density / Sq Mi
$58,380
Median Household Income
$37,181
Median Earnings
$768
Median Rent
$118,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial space combines office, garage, workshop, mezzanine storage, and M-3 industrial zoning.
Where is this flex space located?
The property is located at 1960 S 21st St Clinton, IA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: More than one acre along Manufacturing Drive in Clinton, IA; M‑3 industrial zoning; Air‑conditioned workshop with 14‑foot 6‑inch ceilings
