Two-Building Mixed-Use
For Sale
$1,800,000
206-210 Main Street, Cedar Falls, IA 50613
Main-level retail and upper-story office areas support a multi-tenant commercial configuration under NNN lease terms.
Property Size15,378 SF
Price / SF$117.05
Days on Market208
Property Features for 206-210 Main Street
General Information
Standard status
Active
Size
15,378 SF
Property subtype
Commercial
Zoning
CD-DT
Taxes and HOA fees
Annual Taxes
$56,571
Amenities
Close to Shopping
City Street
0.16
15378
Building Details
Building Size
15,378 SF
Year Built
1900
Buildings
2
Stories
2
Tenancy
Multi
Listing Agency:
McDonough Real Estate
(319) 361-9457
Listed By:
Angie Buck
(319) 361-9457
Source:
Pinnaclerealtyia
Added: Feb 4
Changed: Aug 30
Last Checked: Aug 30 at 5:58PM
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 McDonough Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property comprises two buildings with retail areas at street level and office accommodations above. The improvements date to 1900 and are located at 206-210 Main Street in Cedar Falls, Iowa. The property is identified as 15,378 SF and carries CD-DT zoning.
Existing leases are structured on an NNN basis. Its downtown Cedar Falls setting places the buildings along a city street and near shopping, with a commercial layout combining customer-facing space and upper-level offices.
Existing leases are structured on an NNN basis. Its downtown Cedar Falls setting places the buildings along a city street and near shopping, with a commercial layout combining customer-facing space and upper-level offices.
Key Highlights
- Two‑building mixed‑use property with main‑level retail and upper‑level office space
- 15,378 SF property in Cedar Falls, Iowa
- Existing leases structured as NNN
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
$152,572
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
8.48%
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%
$3,051,440
$3.1M
Cap Rate 7%
$2,179,600
$2.2M
Cap Rate 9%
$1,695,244
$1.7M
Market Conditions
NOI Build-Up for 15,378 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
$238.1K $15.48/SF
− Vacancy
−$20.1K −$1.31/SF
EGI
$218.0K $14.17/SF
− OpEx
−$65.4K −$4.25/SF
NOI
$152.6K $9.92/SF
Area
Black Hawk County, IA
Vacancy
8.44%
Lease Rate
$15.48 /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%
$3,051,440
Cap Rate 7%
$2,179,600
Cap Rate 9%
$1,695,244
Alternative Uses
Best Use
Mixed Use
$19.28M
$16.87M – $22.49M
NOI $1,349,420 @ 7.0% cap · market cap 74.97%
Second Best
Retail
$2.18M
$1.91M – $2.54M
NOI $152,572 @ 7.0% cap · market cap 8.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Explore this area
Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Main-level retail and upper-story office areas support a multi-tenant commercial configuration under NNN lease terms.
Where is this mixed-use property located?
The property is located at 206-210 Main Street Cedar Falls, IA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Two‑building mixed‑use property with main‑level retail and upper‑level office space; 15,378 SF property in Cedar Falls, Iowa; Existing leases structured as NNN
