Multi-Tenant Flex
For Sale
$2,230,000
2301 MANUFACTURING Drive, Clinton, IA 52732
Four business condominiums offer flexible industrial, office, and retail functionality with dedicated utility responsibility for tenants.
Property Size10,584 SF
Days on Market317
Property Features for 2301 MANUFACTURING Drive
General Information
Standard status
Active
Size
10,584 SF
Property subtype
Commercial
Zoning
Comme
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Power
200 amps
Taxes and HOA fees
Annual Taxes
$14,076
Building Details
Building Size
10,584 SF
Year Built
2008
Listing Agency:
Coldwell Banker Howes & Jefferies REALTORS
(563) 242-3265
Listed By:
Dennis Lauver · License #B63532000
(563) 242-3265
Source:
Allinonerealestateco
Added: Sep 30, 2025
Changed: Aug 12
Last Checked: Aug 12 at 12:47PM
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 Coldwell Banker Howes & Jefferies REALTORS
Investment Insights
Based on property information with market context.
This 2008 flex property comprises four business condominiums within a quality industrial-use building. The configuration supports distribution, office, and retail functions, with high-bay efficiency lighting, natural gas heaters with blowers, 200-amp electrical service, and 1 water service. The property is occupied by multiple tenants, and each tenant is responsible for its own utilities while the landlord handles common area maintenance.
The building is located at 2301 Manufacturing Drive in Clinton, Iowa, next to Manufacturing Drive. Lease documents are available for review during buyer due diligence. Zoning is identified as Comme.
The building is located at 2301 Manufacturing Drive in Clinton, Iowa, next to Manufacturing Drive. Lease documents are available for review during buyer due diligence. Zoning is identified as Comme.
Key Highlights
- Four business condominiums in one 2008 industrial‑use building
- Flexible configuration for distribution, office, and retail functions
- 200‑amp electrical service and 1 water service
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
$105,009
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
4.71%
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%
$2,100,180
$2.1M
Cap Rate 7%
$1,500,129
$1.5M
Cap Rate 9%
$1,166,767
$1.2M
Market Conditions
NOI Build-Up for 10,584 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
$163.8K $15.48/SF
− Vacancy
−$13.8K −$1.31/SF
EGI
$150.0K $14.17/SF
− OpEx
−$45.0K −$4.25/SF
NOI
$105.0K $9.92/SF
Area
Clinton County, IA
Vacancy
8.44%
Lease Rate
$15.48 /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%
$2,100,180
Cap Rate 7%
$1,500,129
Cap Rate 9%
$1,166,767
Alternative Uses
Best Use
Retail
$1.50M
$1.31M – $1.75M
NOI $105,009 @ 7.0% cap · market cap 4.71%
Second Best
Flex RnD
$1.14M
$998.9K – $1.33M
NOI $79,913 @ 7.0% cap · market cap 3.58%
Theoretical Best
Specialty Retail
$1.56M
$1.36M – $1.82M
NOI $108,949 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52732, IA
25,808
Population
12,911
Households
2
Avg Household Size
42
Median Age
21%
College-Educated
90%
High-School Grad
109.6 sq mi
ZIP Area
235
Density / Sq Mi
$58,380
Median Household Income
$37,181
Median Earnings
$768
Median Rent
$118,700
Median Home Value
Market
Vacancy Rate% for Office 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 - Four business condominiums offer flexible industrial, office, and retail functionality with dedicated utility responsibility for tenants.
Where is this flex space located?
The property is located at 2301 MANUFACTURING Drive Clinton, IA.
What is the asking price?
The asking price for this property is $2,230,000.
What are key features of this property?
This property features: Four business condominiums in one 2008 industrial‑use building; Flexible configuration for distribution, office, and retail functions; 200‑amp electrical service and 1 water service
