203-1650 Commercial, Walford, IA 52351

Listing Agency: Pinnacle Realty LLC b***@pinnaclerealtyia.com Show Phone

Listed By: Melissa Redinbaugh Show Phone

Source: Exprealty

Added: Oct 12 Changed: Nov 7 Last Checked: Nov 6 at 3:35PM

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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 Pinnacle Realty LLC

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 2,400-square-foot flex condo combines open warehouse space with a restroom on the main level. A mezzanine provides an air-conditioned office, separating workspace from the warehouse area. Gas heat serves the warehouse, while the office offers a conditioned work area within the unit.

Key Highlights

• 2,400 SF flex condo
• Open warehouse area with a main‑level restroom
• Mezzanine office with air conditioning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,717

Cap Rate

7.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$334,340 $334.3K

Cap Rate 7%

$238,814 $238.8K

Cap Rate 9%

$185,744 $185.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$27.4K $11.40/SF

− Vacancy

−$1.6K −$0.68/SF

EGI

$25.7K $10.72/SF

− OpEx

−$9.0K −$3.75/SF

NOI

$16.7K $6.97/SF

Area

Benton County, IA

Vacancy

6.00%

Lease Rate

$11.40 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$334,340

Cap Rate 7%

$238,814

Cap Rate 9%

$185,744

Alternative Uses

Best Use

Flex RnD

$238.8K

$209.0K – $278.6K (±1% cap)

NOI $16,717 @ 7.0% cap · market cap 7.78%

Second Best

Warehouse

$218.3K

$191.0K – $254.7K (±1% cap)

NOI $15,280 @ 7.0% cap · market cap 7.11%

Theoretical Best

Specialty Retail

$347.4K

$303.9K – $405.3K (±1% cap)

NOI $24,315 @ 7.0% cap · market cap 11.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Furniture & Home Goods Storage Facility Grocery & Convenience Store Pet Store Pet Store & Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

36

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 52351, IA

1,380

Population

477

Households

2.9

Avg Household Size

40

Median Age

34%

College-Educated

97%

High-School Grad

1.8 sq mi

ZIP Area

767

Density / Sq Mi

$116,477

Median Household Income

$58,500

Median Earnings

$274,500

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - A restroom, gas heat, and a separate conditioned office add practical functionality to the warehouse floor.

Where is this flex space located?

The property is located at 203-1650 Commercial Walford, IA.

What is the asking price?

The asking price for this property is $215,000.

What are key features of this property?

This property features: 2,400 SF flex condo; Open warehouse area with a main‑level restroom; Mezzanine office with air conditioning