Turn-Key Industrial Flex
224 Washington Street Raymond, IA 50667
224 Washington Street, Raymond, IA, 50667
$449,900
For Sale
$449,900
2021-built metal building with high-bay LED lighting, four insulated overhead doors, and gas radiant heat.
Property Size5,416 SF
Lot Size1.22 Acres
Price / SF$83.07
Days on Market191
Property Features for 224 Washington Street
General Information
- Standard status
- Active
- Size
- 5,416 SF
- Lot size
- 1.22 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2021
Listing agency
Fischels Commercial Group
(319) 721-6099
Listed by
Ryan Eighme
(319) 721-6099
Source
Pinnaclerealtyia
Added: Jan 13 Updated: Jul 22 at 4:17AM Checked: Jul 23 at 3:24AM
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 Fischels Commercial Group
Investment Insights
Based on property information with market context.
Built in 2021, this turn-key commercial metal building is constructed with reinforced concrete and designed for energy efficiency, including R-50 insulation in the ceiling and R-38 insulation in the walls. The interior offers 18’ walls, high-bay LED lighting, and four 12’x16’ insulated overhead doors with remote access, along with two insulated service doors. Mechanical and utility features include a 200-amp electrical service with multiple circuits, 30- and 50-amp hookups, internet service, a 40-gallon water heater, and gas radiant heat controlled by a remote thermostat.
The property includes a full 13’x14’ kitchen with an 8’ granite island and an 8’x11’ bathroom equipped with washer and dryer, a utility sink, a floor drain, and plumbing for a future shower. Additional improvements include a 28’x22’ garage with a new roof installed in 2022. The building sits on 1.22 acres and is described as zoned Commercial, with gutters and snow guards installed, and noted ability to add a dock door.
For perspective on layout, the combination of high-bay clear space and insulated overhead access, plus the included kitchen and bathroom, supports day-to-day operational use within a flex-style industrial configuration at 224 Washington Street in Raymond, IA.
The property includes a full 13’x14’ kitchen with an 8’ granite island and an 8’x11’ bathroom equipped with washer and dryer, a utility sink, a floor drain, and plumbing for a future shower. Additional improvements include a 28’x22’ garage with a new roof installed in 2022. The building sits on 1.22 acres and is described as zoned Commercial, with gutters and snow guards installed, and noted ability to add a dock door.
For perspective on layout, the combination of high-bay clear space and insulated overhead access, plus the included kitchen and bathroom, supports day-to-day operational use within a flex-style industrial configuration at 224 Washington Street in Raymond, IA.
Key Highlights
- Built in 2021: 5,416 SF commercial metal building on 1.22 acres
- Reinforced concrete construction with insulation: R‑50 ceiling and R‑38 walls
- High‑bay LED lighting plus 4 insulated 12’x16’ overhead doors with remotes and 2 insulated service doors
Local 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 85.21%
Second Best
Industrial
$4.51M
$3.95M – $5.26M
NOI $315,719 @ 7.0% cap · market cap 70.18%
Theoretical Best
Mixed Use
$6.79M
$5.94M – $7.92M
NOI $475,254 @ 7.0% cap · market cap 105.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - 2021-built metal building with high-bay LED lighting, four insulated overhead doors, and gas radiant heat.
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 $449,900.
What are key features of this property?
This property features: Built in 2021: 5,416 SF commercial metal building on 1.22 acres; Reinforced concrete construction with insulation: R‑50 ceiling and R‑38 walls; High‑bay LED lighting plus 4 insulated 12’x16’ overhead doors with remotes and 2 insulated service doors
