Listing Agency: EXIT Realty Home/Land Properties p**@exithomeland.com Show Phone

Listed By: Betty Kunkel · License #*** Show Phone

Source: Exprealty

Added: May 20 Changed: Oct 14 Last Checked: Oct 12 at 11:43PM

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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 EXIT Realty Home/Land Properties

Investment Insights

Based on property information with market context.

This versatile commercial property provides 3,816 square feet of equipped space designed for functionality and comfort. The metal building includes four overhead garage doors, a dedicated workout area, and loft space. It also features a ¾ bath. The front shop area is cooled by a mini-split system and heated with both forced air and infrared heat. The back shop area has in-floor radiant heat powered by a boiler system that also services the water heater. The property also includes a full kitchen with reverse osmosis, an owned water softener, and updated fiber internet. An additional 880 square foot metal shed offers extra storage or workspace. Ample parking is available in the front and rear of the property, making it suitable for a variety of commercial or hobby uses.

Key Highlights

• 3,816 sq. ft. versatile commercial space suitable for various uses.
• Features four overhead garage doors for easy access and functionality.
• Efficient heating systems: In

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,120

Cap Rate

4.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$342,400 $342.4K

Cap Rate 7%

$244,571 $244.6K

Cap Rate 9%

$190,222 $190.2K

Market Conditions

NOI Build-Up for 3,816 SF

Gross rent

$27.9K $7.32/SF

− Vacancy

−$1.6K −$0.42/SF

EGI

$26.3K $6.90/SF

− OpEx

−$9.2K −$2.42/SF

NOI

$17.1K $4.49/SF

Area

Kossuth County, IA

Vacancy

5.71%

Lease Rate

$7.32 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$342,400

Cap Rate 7%

$244,571

Cap Rate 9%

$190,222

Alternative Uses

Best Use

Industrial

$2.63M

$2.30M – $3.07M (±1% cap)

NOI $184,311 @ 7.0% cap · market cap 43.37%

Second Best

Flex RnD

$244.6K

$214.0K – $285.3K (±1% cap)

NOI $17,120 @ 7.0% cap · market cap 4.03%

Theoretical Best

Warehouse

$2.85M

$2.49M – $3.32M (±1% cap)

NOI $199,230 @ 7.0% cap · market cap 46.88%

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

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Restaurant Big Box & Wholesale Store HVAC Service Gym & Fitness Center Building Supply

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

144

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 50511, IA

7,061

Population

3,385

Households

2.1

Avg Household Size

47

Median Age

26%

College-Educated

95%

High-School Grad

130.0 sq mi

ZIP Area

54

Density / Sq Mi

$60,256

Median Household Income

$43,692

Median Earnings

$892

Median Rent

$180,600

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

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Well-equipped 3,816 sq. ft. commercial space with additional storage.

Where is this flex space located?

The property is located at 2120 E Oak St Algona, 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: 3,816 sq. ft. versatile commercial space suitable for various uses.; Features four overhead garage doors for easy access and functionality.; Efficient heating systems: In