Multi-Tenant Professional Office
New
For Sale
$1,295,000
240 N BLUFF Boulevard, Clinton, IA 52732
Established office property with multiple occupants, a separate warehouse, and on-site parking across a substantial commercial parcel.
Property Size17,708 SF
Lot Size7.37 Acres
Days on Market2
Property Features for 240 N BLUFF Boulevard
General Information
Standard status
Active
Size
17,708 SF
Lot size
7.37 Acres
Property subtype
Commercial
Additional Details
Office Units
9
Taxes and HOA fees
Annual Taxes
$26,868
Building Details
Building Size
17,708 SF
Year Built
1970
Units
9
Tenancy
Multi
Listing Agency:
NAI Ruhl Commercial Company
(563) 355-4000
Listed By:
Shawn Langan · License #475162291
(563) 355-4000
Source:
Birdrealtysells
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 12:42PM
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 Ruhl Commercial Company
Investment Insights
Based on property information with market context.
Located at 240 N Bluff Boulevard in Clinton, Iowa, this multi-tenant professional office property was built in 1970 and occupies approximately 7.37 acres. The asset includes 9 office units along with a separate warehouse building, creating a combination of professional workspace and supporting storage or operational area. On-site parking serves the property, with internal access throughout the site.
Current occupants include Life Connections, The Pregnancy Center, Iowa Vocational Rehabilitation Services, Beyond Behavior, and University of Iowa Child Health Specialty Clinics. The existing tenant roster spans healthcare, community services, and professional users, providing a varied occupancy profile within the office building.
Current occupants include Life Connections, The Pregnancy Center, Iowa Vocational Rehabilitation Services, Beyond Behavior, and University of Iowa Child Health Specialty Clinics. The existing tenant roster spans healthcare, community services, and professional users, providing a varied occupancy profile within the office building.
Key Highlights
- Approximately 7.37‑acre office property at 240 N Bluff Boulevard in Clinton, Iowa
- 9 office units plus a separate warehouse building
- Established occupants include Life Connections and University of Iowa Child Health Specialty Clinics
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
$115,972
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
8.96%
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%
$2,319,440
$2.3M
Cap Rate 7%
$1,656,743
$1.7M
Cap Rate 9%
$1,288,578
$1.3M
Market Conditions
NOI Build-Up for 17,708 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
$204.0K $11.52/SF
− Vacancy
−$49.4K −$2.79/SF
EGI
$154.6K $8.73/SF
− OpEx
−$38.7K −$2.18/SF
NOI
$116.0K $6.55/SF
Area
Clinton County, IA
Vacancy
24.20%
Lease Rate
$11.52 /SF/Yr
Expense Ratio
25.00%
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%
$2,319,440
Cap Rate 7%
$1,656,743
Cap Rate 9%
$1,288,578
Alternative Uses
Best Use
Office B
$1.66M
$1.45M – $1.93M
NOI $115,972 @ 7.0% cap · market cap 8.96%
Second Best
Warehouse
$1.48M
$1.30M – $1.73M
NOI $103,888 @ 7.0% cap · market cap 8.02%
Theoretical Best
Specialty Retail
$2.60M
$2.28M – $3.04M
NOI $182,282 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
396
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Established office property with multiple occupants, a separate warehouse, and on-site parking across a substantial commercial parcel.
Where is this office building located?
The property is located at 240 N BLUFF Boulevard Clinton, IA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Approximately 7.37‑acre office property at 240 N Bluff Boulevard in Clinton, Iowa; 9 office units plus a separate warehouse building; Established occupants include Life Connections and University of Iowa Child Health Specialty Clinics
