204 S Main St, Woodward, IA 50276

Building Details

Year Built 2023 More

Buildings 1 More

Listing Agency: Keller Williams Realty GDM

Listed By: Matthew Fischer Show Phone

Source: Desmoineshomesforsale

Added: Mar 28, 2025 Changed: Nov 7 Last Checked: Nov 10 at 12:10PM

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Investment Insights

Based on property information with market context.

Built in 2023, this mixed-use commercial property combines an office and kitchenette area with a substantial garage component. The 3,200-square-foot building includes an 820-square-foot office/kitchenette area and a 2,380-square-foot garage, creating a practical configuration for retail, automotive, or mechanic-related operations. A bay door and auto lift support vehicle access and service activities, while on-site parking accommodates customers and staff.

The property occupies 0.33 acres at 204 S Main St in Downtown Woodward, Iowa. Its existing improvements provide a combination of administrative, customer-facing, and garage space within one commercial asset.

Key Highlights

• 3,200‑square‑foot mixed‑use commercial property built in 2023
• 820‑square‑foot office/kitchenette area
• 2,380‑square‑foot garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,525

Cap Rate

7.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$650,500 $650.5K

Cap Rate 7%

$464,643 $464.6K

Cap Rate 9%

$361,389 $361.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$48.0K $15.00/SF

− Vacancy

−$1.5K −$0.48/SF

EGI

$46.5K $14.52/SF

− OpEx

−$13.9K −$4.36/SF

NOI

$32.5K $10.16/SF

Area

Dallas County, IA

Vacancy

3.20%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$650,500

Cap Rate 7%

$464,643

Cap Rate 9%

$361,389

Alternative Uses

Best Use

Retail

$464.6K

$406.6K – $542.1K (±1% cap)

NOI $32,525 @ 7.0% cap · market cap 7.65%

Second Best

Mixed Use

$377.1K

$330.0K – $440.0K (±1% cap)

NOI $26,400 @ 7.0% cap · market cap 6.21%

Theoretical Best

Office A

$788.1K

$689.6K – $919.5K (±1% cap)

NOI $55,167 @ 7.0% cap · market cap 12.98%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Heartland Motor Company Car Dealership Flocks 'N Feathers ... Specialty Food Shop

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Electrical Service Garden Center Furniture & Home Goods Restaurant

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

89

Businesses Nearby

Explore this area Business Placement

Demographics for 50276, IA

2,454

Population

899

Households

2.7

Avg Household Size

40

Median Age

17%

College-Educated

97%

High-School Grad

82.4 sq mi

ZIP Area

30

Density / Sq Mi

$92,682

Median Household Income

$39,186

Median Earnings

$484

Median Rent

$243,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Recently built commercial property combines office, kitchenette, garage, and vehicle-service functionality.

Where is this mixed-use property located?

The property is located at 204 S Main St Woodward, IA.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: 3,200‑square‑foot mixed‑use commercial property built in 2023; 820‑square‑foot office/kitchenette area; 2,380‑square‑foot garage