Mixed-Use Property with
New
For Sale
$144,900
2319 N 2nd St, Clinton, IA 52732
Includes two apartments, two storefronts, parking, and green space.
Property Size3,252 SF
Price / SF$44.56
Days on Market2
Property Features for 2319 N 2nd St
General Information
Standard status
Active
Size
3,252 SF
Amenities
on-street parking
off-street parking
green space
Building Details
Year Built
1894
Listing Agency:
eXp Realty
(833) 835-5566
Listed By:
Chris McDanel · License #S67345000/475.188059
Source:
Realtopiare
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 8:30AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This mixed-use property combines residential and commercial components within a 3,252 SF building. The layout includes one 2-bedroom apartment, one 3-bedroom apartment, and two storefronts that offer retail or office use. The building dates to 1894.
Located at 2319 N 2nd St in Clinton’s Lyons District, the property provides both on-street and off-street parking. Green space is also included, adding an outdoor component to the site. The combination of apartments and storefronts supports a range of mixed-use occupancy arrangements.
Located at 2319 N 2nd St in Clinton’s Lyons District, the property provides both on-street and off-street parking. Green space is also included, adding an outdoor component to the site. The combination of apartments and storefronts supports a range of mixed-use occupancy arrangements.
Key Highlights
- 2‑bedroom apartment and 3‑bedroom apartment
- Two storefronts suitable for retail or office use
- 3,252 SF mixed‑use property
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
$12,664
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
8.74%
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%
$253,280
$253.3K
Cap Rate 7%
$180,914
$180.9K
Cap Rate 9%
$140,711
$140.7K
Market Conditions
NOI Build-Up for 3,252 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
$22.6K $6.96/SF
− Vacancy
−$2.4K −$0.73/SF
EGI
$20.3K $6.23/SF
− OpEx
−$7.6K −$2.34/SF
NOI
$12.7K $3.89/SF
Area
Clinton County, IA
Vacancy
10.48%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
37.50%
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%
$253,280
Cap Rate 7%
$180,914
Cap Rate 9%
$140,711
Alternative Uses
Best Use
Retail
$460.9K
$403.3K – $537.8K
NOI $32,265 @ 7.0% cap · market cap 22.27%
Second Best
Multifamily LT 5
$298.7K
$261.3K – $348.5K
NOI $20,907 @ 7.0% cap · market cap 14.43%
Theoretical Best
Specialty Retail
$478.2K
$418.4K – $557.9K
NOI $33,475 @ 7.0% cap · market cap 23.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes two apartments, two storefronts, parking, and green space.
Where is this mixed-use property located?
The property is located at 2319 N 2nd St Clinton, IA.
What is the asking price?
The asking price for this property is $144,900.
What are key features of this property?
This property features: 2‑bedroom apartment and 3‑bedroom apartment; Two storefronts suitable for retail or office use; 3,252 SF mixed‑use property
