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    Hardware, Furniture, Appliance Business Property Title is generated by Realmo AI

    20 W 2ND ST, Kingsley, IA 51028

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    For Sale
    $350,000

    Commercial - Kingsley, IA

    Lot size:
    0.25 Acres
    Added:
    May 11, 2026
    Days on Market:
    3
    Last Refresh:
    May 13 at 3:06 am

    Property Features for 20 W 2ND ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    commercial
    Standard status
    Active
    APN
    19149-27-30-128-043
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    8550

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    2023
    Floors in Building
    1
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Tonya Vakulskas

    Listing agent Tonya Vakulskas

    Listing office Keller Williams Okoboji 565 Hwy 71 S, Spirit Lake, IA

    Listing date May 11, 2026

    MLS# 832920 Listing URL

    Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey hardware, furniture, and appliance business with established community presence.
    • Includes three parcels: historic hardware store (updated in 2024), newer appliance showroom/storage building (built in 2022), and additional lot with storage.
    • Newer appliance showroom/storage building (2022) is fully insulated and sheetrocked with a utility room, bathroom, and attached garage.
    • Hardware store features a freight elevator, new roof (2020), and a complete interior reset (2024) to maximize retail space.
    • Includes valuable business assets: forklift, delivery truck, trailer, appliance carts, and paint matching system.
    • Adjacent lot provides additional flexibility with a lean‑to structure and fenced storage area.

    Overview

    This commercial property in Kingsley, Iowa, presents an opportunity to acquire a hardware, furniture, and appliance business. The offering includes three parcels with two commercial buildings and an additional lot suitable for outdoor storage and expansion. The original hardware store building, dating back to 1920, has been maintained and updated, retaining its community presence. A freight elevator facilitates the movement of heavy merchandise to and from the basement. Improvements include a new roof installed in 2020 and a complete interior reset in 2024 to improve customer flow and maximize retail space. The computer systems and point-of-sale equipment were also upgraded in 2024. A newer appliance showroom and storage building, constructed in 2022, measures 42’ x 68’ and includes an attached 14’ x 24’ garage. The building is insulated and sheetrocked, and includes a utility room and bathroom. The adjacent west lot features a lean-to structure and fenced storage area. Business assets included with the property are a Daewoo 4,000 lb forklift, a 2015 Chevrolet 4-wheel-drive truck with lift, an Aluma delivery trailer, several appliance carts, and a paint matching system located inside the hardware store. The property is zoned commercial and sits on a 0.25-acre lot.
    Location Intelligence

    Current Use by Public Records

    Clark's Hardware LLC Big Box & Wholesale Store UPS Authorized Shipping ... Courier Service

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Kingsley
    County
    Plymouth
    State
    Iowa
    Longitude
    -95.967697
    Latitude
    42.588139

    FAQs

    What type of property is this?
    Storefront property - Established hardware, furniture, and appliance business property in Kingsley, Iowa.
    Where is this storefront property located?
    The property is located at 20 W 2ND ST Kingsley, IA.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Turnkey hardware, furniture, and appliance business with established community presence.; Includes three parcels: historic hardware store (updated in 2024), newer appliance showroom/storage building (built in 2022), and additional lot with storage.; Newer appliance showroom/storage building (2022) is fully insulated and sheetrocked with a utility room, bathroom, and attached garage.
    (712) 899-6328
    We can help!
    Listing Contact
    Tonya Vakulskas
    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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