Built-Out Flex
For Sale
$700,000
2024 NW 92nd Ct, Clive, IA 50325
Office-heavy configuration combines perimeter and interior suites with a small warehouse component and one drive-in door.
Property Size7,070 SF
Days on Market67
Property Features for 2024 NW 92nd Ct
General Information
Standard status
Active
Size
7,070 SF
Class
B
Property subtype
Office
Building Details
Building Size
7,070 SF
Year Built
1983
Listing Agency:
Ferguson Commercial Real Estate Services
(515) 867-4964
Listed By:
Nathan Petsche · License #S62966000
Source:
Fergusoncres
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 29 at 1:45PM
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 Ferguson Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This flex property in Clive, Iowa, provides a fully finished office configuration with 20 suites arranged across perimeter and interior spaces. The building also includes a small warehouse area and one drive-in door, creating a practical combination of office and light industrial functionality. The existing layout is currently occupied by various businesses.
Constructed in 1983, the property is located at 2024 NW 92nd Ct, Clive, IA 50325. Its office-oriented design and warehouse component support users seeking a commercial building with both professional workspace and limited storage or service capacity.
Constructed in 1983, the property is located at 2024 NW 92nd Ct, Clive, IA 50325. Its office-oriented design and warehouse component support users seeking a commercial building with both professional workspace and limited storage or service capacity.
Key Highlights
- 20‑suite layout with perimeter and interior office spaces
- Small warehouse area with 1 drive‑in door
- Fully built‑out office configuration
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
$28,989
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
4.14%
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%
$579,780
$579.8K
Cap Rate 7%
$414,129
$414.1K
Cap Rate 9%
$322,100
$322.1K
Market Conditions
NOI Build-Up for 7,070 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
$45.0K $6.36/SF
− Vacancy
−$3.6K −$0.50/SF
EGI
$41.4K $5.86/SF
− OpEx
−$12.4K −$1.76/SF
NOI
$29.0K $4.10/SF
Area
Polk County, IA
Vacancy
7.90%
Lease Rate
$6.36 /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%
$579,780
Cap Rate 7%
$414,129
Cap Rate 9%
$322,100
Alternative Uses
Best Use
Flex RnD
$6.81M
$5.96M – $7.94M
NOI $476,405 @ 7.0% cap · market cap 68.06%
Second Best
Office B
$1.33M
$1.16M – $1.55M
NOI $93,154 @ 7.0% cap · market cap 13.31%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
848
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50325, IA
18,619
Population
7,455
Households
2.5
Avg Household Size
39
Median Age
60%
College-Educated
95%
High-School Grad
7.7 sq mi
ZIP Area
2,418
Density / Sq Mi
$131,082
Median Household Income
$63,495
Median Earnings
$1,099
Median Rent
$379,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office-heavy configuration combines perimeter and interior suites with a small warehouse component and one drive-in door.
Where is this flex space located?
The property is located at 2024 NW 92nd Ct Clive, IA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 20‑suite layout with perimeter and interior office spaces; Small warehouse area with 1 drive‑in door; Fully built‑out office configuration
