Auto Repair Shop with Paint
For Sale
$250,000
215 S Division Street, Stuart, IA 50250
Steel-frame facility with auto repair and sales zoning, office space, and three-phase power.
Property Size3,200 SF
Price / SF$312.50
Days on Market69
Property Features for 215 S Division Street
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Retail
Additional Details
Highway Access
Yes
Amenities
rear overhead door
blown in insulation
3-phase power
floor drains
10x20 office
two natural gas radiant heaters
cross draft paint booth
Building Details
Building Size
3,200 SF
Year Built
1973
Buildings
1
Construction
steel frame
Listing Agency:
NAI Iowa Realty Commercial
(515) 975-9600
Listed By:
Matt T. Connolly · License ##B61913000
(515) 975-9600
Source:
Naiglobal
Added: Jun 23
Changed: Aug 30
Last Checked: Jun 5 at 7:27AM
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
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.
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 = 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
$10,290
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
4.12%
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%
$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
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
$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 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%
$205,800
Cap Rate 7%
$147,000
Cap Rate 9%
$114,333
Alternative Uses
Best Use
Retail
$147.0K
$128.6K – $171.5K
NOI $10,290 @ 7.0% cap · market cap 4.12%
Second Best
Industrial
$46.9K
$41.0K – $54.7K
NOI $3,280 @ 7.0% cap · market cap 1.31%
Theoretical Best
Flex RnD
$770.1K
$673.8K – $898.5K
NOI $53,907 @ 7.0% cap · market cap 21.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
