Energy-Efficient Flex Building with Overhead
For Sale
$399,900
224 Washington Street, Raymond, IA 50667
Energy-efficient flex metal building with insulated overhead doors, gas radiant heat, and reinforced concrete construction.
Property Size5,416 SF
Lot Size1.22 Acres
Price / SF$73.84
Days on Market198
Property Features for 224 Washington Street
General Information
Standard status
Active
Size
5,416 SF
Lot size
1.22 Acres
Property subtype
Commercial
Zoning
Commercial
Additional Details
Utilities to Site
Yes
Power
200 amps
Building Details
Building Size
5,416 SF
Year Built
2021
Construction
metal building
Listing Agency:
Miehe Commercial Real Estate
(319) 269-6222
Listed By:
Matt Miehe, CCIM · License #B58183000
(319) 269-6222
Source:
Sweeneyrealestate
Added: Jan 13
Changed: Jul 29
Last Checked: Jul 30 at 12:45PM
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 Miehe Commercial Real Estate
Investment Insights
Based on property information with market context.
Built in 2021, this energy-efficient flex space sits on 1.22 acres and features a high-quality metal building with reinforced concrete construction. The exterior includes R-50 insulation in the ceiling and R-38 insulation in the walls, along with gutters and snow guards. Interior systems include 18' walls and high-bay LED lighting.
The building is equipped with four 12'x16' insulated overhead doors with remotes, plus two insulated service doors. For a commercial-ready workflow, there is a full 13'x14' kitchen with an 8' granite island and an 8'x11' bathroom that includes a washer, dryer, utility sink, floor drain, and plumbing for a future shower.
Utilities and building equipment include a 200-amp service with multiple circuits, 30 and 50 amp hookups, internet, a 40-gal water heater, and gas radiant heat with a remote thermostat. An additional 28'x22' garage has a new roof (2022). The property also allows for the addition of a dock door.
The building is equipped with four 12'x16' insulated overhead doors with remotes, plus two insulated service doors. For a commercial-ready workflow, there is a full 13'x14' kitchen with an 8' granite island and an 8'x11' bathroom that includes a washer, dryer, utility sink, floor drain, and plumbing for a future shower.
Utilities and building equipment include a 200-amp service with multiple circuits, 30 and 50 amp hookups, internet, a 40-gal water heater, and gas radiant heat with a remote thermostat. An additional 28'x22' garage has a new roof (2022). The property also allows for the addition of a dock door.
Key Highlights
- 1.22‑acre flex space with reinforced concrete construction built in 2021
- R‑50 ceiling insulation and R‑38 wall insulation plus gutters and snow guards
- 18' walls with high‑bay LED lighting
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.6k | $7.32 |
| − Vacancy | −$2.3k | −$0.42 |
| EGI | $37.4k | $6.90 |
| − OpEx | −$13.1k | −$2.42 |
| NOI | $24.3k | $4.49 |
5,416 SF · lease $7.32/SF/yr · vacancy 5.71% · expense 35.00%
Alternative Uses
Best Use
Warehouse
$5.48M
$4.79M – $6.39M
NOI $383,374 @ 7.0% cap · market cap 95.87%
Second Best
Industrial
$4.51M
$3.95M – $5.26M
NOI $315,719 @ 7.0% cap · market cap 78.95%
Theoretical Best
Mixed Use
$6.79M
$5.94M – $7.92M
NOI $475,254 @ 7.0% cap · market cap 118.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50667, IA
759
Population
320
Households
2.4
Avg Household Size
45
Median Age
16%
College-Educated
94%
High-School Grad
1.9 sq mi
ZIP Area
399
Density / Sq Mi
$62,813
Median Household Income
$43,347
Median Earnings
$1,125
Median Rent
$210,400
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Energy-efficient flex metal building with insulated overhead doors, gas radiant heat, and reinforced concrete construction.
Where is this flex space located?
The property is located at 224 Washington Street Raymond, IA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1.22‑acre flex space with reinforced concrete construction built in 2021; R‑50 ceiling insulation and R‑38 wall insulation plus gutters and snow guards; 18' walls with high‑bay LED lighting
