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    2 West St, New Virginia, IA 50210

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    120.79 acres of farmland and farmhouse near New Virginia, Iowa.

    Type:Land
    Lot size:
    120.79 Acres
    Added:
    Sep 15, 2025
    Days on Market:
    254
    Last Refresh:
    May 19 at 12:57 pm

    Property Features for 2 West St

    General Information

    Standard status
    Active
    Lot size
    120.79 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Sickels, Jake

    Listing agent Sickels, Jake

    Listing office Peoples Company

    Listing date Sep 15, 2025

    Source Exprealty

    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 Peoples Company

    HighLights

    • 120.79‑acre farm offered in three tracts, featuring a farmhouse, machine shed, and bare land.
    • Conveniently located near Highway G76 and 25th Avenue, east of Interstate 35, and 25 minutes from West Des Moines.
    • Tract 2 (28.08 acres) features 18.06 FSA cropland acres enrolled in CRP with an annual payment of $4,527.28 and a CSR2 value of 67.2.
    • Multiple potential building sites available.
    • Diverse recreational opportunities with grassland, open acres, and timbered boundaries.
    • Tract 2 is well‑suited for a country home or hobby farm with income‑producing CRP.

    Overview

    Located just west of New Virginia, Iowa, at the intersection of Highway G76 and 25th Avenue, this property features 120.79 acres of farmland and a farmhouse. The farm will be offered in three individual tracts. One of the tracts, consisting of 28.08 acres, includes an estimated 18.06 FSA cropland acres enrolled in CRP with an annual payment of $4,527.28 and carrying a CSR2 value of 67.2. The balance of this tract offers grassland, open acres, and timbered boundaries, creating multiple potential building sites. With access from 25th Avenue and Highway G76, this tract is well-suited for a country home or hobby farm while still enjoying the benefits of income-producing CRP and diverse recreational opportunities. The property is conveniently located just east of Interstate 35 and is within 25 minutes of West Des Moines. The property includes two bare land tracts featuring highway frontage, building sites, CRP, timber, and FSA cropland acres, as well as a well-kept farmhouse on 10 acres with a machine shed.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Department Store Discount Store Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    New Virginia
    County
    Warren
    State
    Iowa
    Longitude
    -93.729894
    Latitude
    41.179113

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - 120.79 acres of farmland and farmhouse near New Virginia, Iowa.
    Where is this agricultural land / farmland located?
    The property is located at 2 West St New Virginia, IA.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: 120.79‑acre farm offered in three tracts, featuring a farmhouse, machine shed, and bare land.; Conveniently located near Highway G76 and 25th Avenue, east of Interstate 35, and 25 minutes from West Des Moines.; Tract 2 (28.08 acres) features 18.06 FSA cropland acres enrolled in CRP with an annual payment of $4,527.28 and a CSR2 value of 67.2.
    (515) 681-2103
    We can help!
    Listing Contact
    Sickels, Jake
    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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