Office Building with Attached
For Sale
$250,000
2021 Main St, Keokuk, IA 52632
Private offices, meeting space, and on-site parking support a range of professional office configurations.
Property Size1,960 SF
Price / SF$127.55
Days on Market8
Property Features for 2021 Main St
General Information
Standard status
Active
Size
1,960 SF
Taxes and HOA fees
Annual Taxes
$6,926
Listing Agency:
CHASE Collective
Listed By:
Chase Keller · License #S63136000
(319) 231-1160
Source:
Exprealty
Added: Oct 26
Changed: Nov 1
Last Checked: Nov 1 at 3:18PM
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 CHASE Collective
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Investment Insights
Based on property information with market context.
This office building offers 1,960 square feet on the main level, arranged with multiple private offices, a reception area, conference space, and a kitchenette. A separate 1,960-square-foot basement adds storage, and an attached garage has an overhead door. The property is expected to be vacant before closing.
Set on approximately 0.24 acres along Main Street in Keokuk, the property includes 30 parking spaces.
Set on approximately 0.24 acres along Main Street in Keokuk, the property includes 30 parking spaces.
Key Highlights
- 1,960 SF of main‑level office space with private offices, reception, conference area, and kitchenette
- Additional 1,960 SF basement for storage
- Attached garage with overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,742
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$274,840
$274.8K
Cap Rate 7%
$196,314
$196.3K
Cap Rate 9%
$152,689
$152.7K
Market Conditions
NOI Build-Up for 1,960 SF
Gross rent
$22.3K $11.40/SF
− Vacancy
−$4.0K −$2.05/SF
EGI
$18.3K $9.35/SF
− OpEx
−$4.6K −$2.34/SF
NOI
$13.7K $7.01/SF
Area
Lee County, IA
Vacancy
18.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$274,840
Cap Rate 7%
$196,314
Cap Rate 9%
$152,689
Alternative Uses
Best Use
Office B
$196.3K
$171.8K – $229.0K
NOI $13,742 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$332.6K
$291.1K – $388.1K
NOI $23,285 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
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Business Placement
Demographics for 52632, IA
12,006
Population
5,793
Households
2.1
Avg Household Size
43
Median Age
20%
College-Educated
92%
High-School Grad
51.8 sq mi
ZIP Area
232
Density / Sq Mi
$52,547
Median Household Income
$32,407
Median Earnings
$803
Median Rent
$108,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Private offices, meeting space, and on-site parking support a range of professional office configurations.
Where is this office building located?
The property is located at 2021 Main St Keokuk, IA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,960 SF of main‑level office space with private offices, reception, conference area, and kitchenette; Additional 1,960 SF basement for storage; Attached garage with overhead door
