Building Details

Building Size 3,200 SF

Year Built 1973

Buildings 1

Construction steel frame

Listing Agency: NAI Iowa Realty Commercial - Des Moines

Listed By: Matt T. Connolly · License #B56244000 Show Phone

Source: Naiglobal

Added: Jun 23 Changed: Oct 5 Last Checked: Oct 12 at 6:11PM

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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 NAI Iowa Realty Commercial - Des Moines

Investment Insights

Based on property information with market context.

Built in 1973, this steel-frame automotive facility measures 40x20 and includes a 10x20 office. The building features blown-in insulation, floor drains, three-phase power, and two natural gas radiant heaters added by the owner. A cross-draft paint booth is included, supporting automotive repair and related operations. The rear overhead door is identified as 10x12 in the property information.

The property is located at 215 S. Division Street in Stuart’s Commercial District, near I-80 and approximately a 30-minute drive from West Des Moines. Zoning permits auto repair and auto sales. The frame straightener and shipping container are excluded from the sale.

Key Highlights

• 40x20 steel‑frame building constructed in 1973
• Zoning allows auto repair and auto sales
• 10x20 office within the building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,290

Cap Rate

4.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$205,800 $205.8K

Cap Rate 7%

$147,000 $147.0K

Cap Rate 9%

$114,333 $114.3K

Market Conditions

NOI Build-Up for 800 SF

Gross rent

$15.8K $19.80/SF

− Vacancy

−$1.1K −$1.43/SF

EGI

$14.7K $18.37/SF

− OpEx

−$4.4K −$5.51/SF

NOI

$10.3K $12.86/SF

Area

Guthrie County, IA

Vacancy

7.20%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$205,800

Cap Rate 7%

$147,000

Cap Rate 9%

$114,333

Alternative Uses

Best Use

Retail

$147.0K

$128.6K – $171.5K (±1% cap)

NOI $10,290 @ 7.0% cap · market cap 4.12%

Second Best

Industrial

$46.9K

$41.0K – $54.7K (±1% cap)

NOI $3,280 @ 7.0% cap · market cap 1.31%

Theoretical Best

Flex RnD

$770.1K

$673.8K – $898.5K (±1% cap)

NOI $53,907 @ 7.0% cap · market cap 21.56%

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

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick Dental Office Pharmacy Storage Facility Plumbing Service Parking Lot & Garage Real Estate Agency

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

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

205

Businesses Nearby

5k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 92% Home Improvements & Furnishings 8%

Dollar General Shops & Services

4,547 visits/mo 0.0 miles

Stuart True Value Hardware & Lumber Home Improvements & Furnishings

380 visits/mo 0.1 miles

Demographics for 50250, IA

2,415

Population

1,163

Households

2.1

Avg Household Size

41

Median Age

19%

College-Educated

90%

High-School Grad

108.6 sq mi

ZIP Area

22

Density / Sq Mi

$75,750

Median Household Income

$43,433

Median Earnings

$700

Median Rent

$202,700

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

Questions? Ask Rey

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

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Similar Off Market Nearby

• Karl Chevrolet Stuart Service — 324 SW 8th St, Stuart, IA 50250
• Karl Chevrolet Stuart Collision — 324 SW 8th St, Stuart, IA 50250
• Karl Chevrolet of Stuart, LLC — 324 SW 8th St, Stuart, IA 50250
• Gus Automotive — 523 SW 7th St, Stuart, IA 50250
• Kinzie Tire Services — 604 S Division St, Stuart, IA 50250

Frequently Asked Questions

What type of property is this?

Auto shop - Steel-frame facility with auto repair and sales zoning, office space, and three-phase power.

Where is this auto shop located?

The property is located at 215 S Division Street Stuart, IA.

What is the asking price?

The asking price for this property is $250,000.

What are key features of this property?

This property features: 40x20 steel‑frame building constructed in 1973; Zoning allows auto repair and auto sales; 10x20 office within the building