Retail-Office Building with Off-Street
For Sale
$135,000
201 S Main Street, Monticello, IA 52310
Vacant retail/office building with dedicated off-street parking and a detached garage on a highly visible corner.
Property Size1,168 SF
Price / SF$115.58
Days on Market49
Property Features for 201 S Main Street
General Information
Standard status
Active
Size
1,168 SF
Property subtype
Commercial
Zoning
Comm
Taxes and HOA fees
Annual Taxes
$1,310
Amenities
monument sign
Yes
1
No
Building,Land
Public
0.2
.20 Ac
Off Street
Building Details
Year Built
1984
Stories
1
Listing Agency:
EXIT Realty Driftless Group
(319) 393-0900
Listed By:
Tina Kohl
(319) 521-9777
Source:
Pinnaclerealtyia
Added: Jul 22
Changed: Sep 8
Last Checked: Sep 8 at 5:03AM
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 EXIT Realty Driftless Group
Investment Insights
Based on property information with market context.
This vacant retail/office building offers a flexible layout for retail, office, service, or professional use. The property totals 1,168 SF and includes a 480 SF detached garage, along with dedicated off-street parking. A prominent monument sign is also on-site.
Located in the heart of downtown Monticello, the building sits on a highly visible hard corner along Main Street, providing strong exposure for prospective customers and visitors.
With its combination of retail/office space, onsite parking, and an additional detached garage, the property can support a variety of owner-user or tenant needs in a downtown setting.
Located in the heart of downtown Monticello, the building sits on a highly visible hard corner along Main Street, providing strong exposure for prospective customers and visitors.
With its combination of retail/office space, onsite parking, and an additional detached garage, the property can support a variety of owner-user or tenant needs in a downtown setting.
Key Highlights
- 1,168 SF vacant retail/office building in downtown Monticello
- Highly visible hard corner on Main Street with a prominent monument sign
- Includes a 480 SF detached garage
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
$11,044
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
8.18%
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%
$220,880
$220.9K
Cap Rate 7%
$157,771
$157.8K
Cap Rate 9%
$122,711
$122.7K
Market Conditions
NOI Build-Up for 1,168 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
$17.1K $14.64/SF
− Vacancy
−$1.3K −$1.13/SF
EGI
$15.8K $13.51/SF
− OpEx
−$4.7K −$4.05/SF
NOI
$11.0K $9.46/SF
Area
Jones County, IA
Vacancy
7.73%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
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%
$220,880
Cap Rate 7%
$157,771
Cap Rate 9%
$122,711
Alternative Uses
Best Use
Retail
$157.8K
$138.1K – $184.1K
NOI $11,044 @ 7.0% cap · market cap 8.18%
Second Best
Office B
$80.1K
$70.1K – $93.5K
NOI $5,609 @ 7.0% cap · market cap 4.15%
Theoretical Best
Specialty Retail
$169.0K
$147.9K – $197.2K
NOI $11,833 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52310, IA
6,417
Population
2,937
Households
2.2
Avg Household Size
45
Median Age
21%
College-Educated
96%
High-School Grad
145.4 sq mi
ZIP Area
44
Density / Sq Mi
$76,946
Median Household Income
$49,063
Median Earnings
$664
Median Rent
$192,800
Median Home Value
Market
Vacancy Rate% for Office 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?
Storefront property - Vacant retail/office building with dedicated off-street parking and a detached garage on a highly visible corner.
Where is this storefront property located?
The property is located at 201 S Main Street Monticello, IA.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 1,168 SF vacant retail/office building in downtown Monticello; Highly visible hard corner on Main Street with a prominent monument sign; Includes a 480 SF detached garage
