Mixed-Use Property with Auto
For Sale
$425,000
204 S Main St, Woodward, IA 50276
Recently built commercial property combines office, kitchenette, garage, and vehicle-service functionality.
Property Size3,200 SF
Lot Size0.33 Acres
Price / SF$132.81
Days on Market452
Property Features for 204 S Main St
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.33 Acres
Property subtype
Commercial
Amenities
bay door
auto lift
office/kitchenette
Building Details
Year Built
2023
Buildings
1
Listing Agency:
Keller Williams Realty GDM
(386) 843-4265
Listed By:
Matthew Fischer (386) 843-4265
Source:
Desmoineshomesforsale
Added: Jun 6, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:55PM
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 Keller Williams Realty GDM
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.
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 = 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
$32,525
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
7.65%
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%
$650,500
$650.5K
Cap Rate 7%
$464,643
$464.6K
Cap Rate 9%
$361,389
$361.4K
Market Conditions
NOI Build-Up for 3,200 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
$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 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%
$650,500
Cap Rate 7%
$464,643
Cap Rate 9%
$361,389
Alternative Uses
Best Use
Retail
$464.6K
$406.6K – $542.1K
NOI $32,525 @ 7.0% cap · market cap 7.65%
Second Best
Mixed Use
$377.1K
$330.0K – $440.0K
NOI $26,400 @ 7.0% cap · market cap 6.21%
Theoretical Best
Flex RnD
$3.08M
$2.70M – $3.59M
NOI $215,629 @ 7.0% cap · market cap 50.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
