Listing Agency: Kesterson Realty Inc j***@gmail.com Show Phone

Listed By: Jim Kesterson · License #B11960 Show Phone

Source: Exprealty

Added: Jul 8, 2021 Changed: Oct 5 Last Checked: Oct 20 at 10:43PM

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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 Kesterson Realty Inc

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This for-sale space is located in Kingsgate Center and is offered in a condo-type configuration. The property is positioned as a flexible option for professional services, with suitability noted for medical use, insurance-related operations, food service, and retail shop concepts.

The space is located at 2419 2nd Avenue North in Fort Dodge, IA 50501. For prospective occupants or buyers, the condo-style setup can be convenient for maintaining a defined, independently managed suite within the broader center.

At the time of listing, the property is offered as a 7,585 square foot suite in the Kingsgate Center.

Key Highlights

• Condo‑style suite in Kingsgate Center
• Suitable for professional services including medical, insurance, food service, and retail

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$83,150

Cap Rate

8.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,663,000 $1.7M

Cap Rate 7%

$1,187,857 $1.2M

Cap Rate 9%

$923,889 $923.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,585 SF

Gross rent

$166.6K $21.96/SF

− Vacancy

−$28.0K −$3.69/SF

EGI

$138.6K $18.27/SF

− OpEx

−$55.4K −$7.31/SF

NOI

$83.2K $10.96/SF

Area

Webster County, IA

Vacancy

16.80%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,663,000

Cap Rate 7%

$1,187,857

Cap Rate 9%

$923,889

Alternative Uses

Best Use

Healthcare Medical

$1.19M

$1.04M – $1.39M (±1% cap)

NOI $83,150 @ 7.0% cap · market cap 8.76%

Second Best

Office B

$999.6K

$874.7K – $1.17M (±1% cap)

NOI $69,972 @ 7.0% cap · market cap 7.37%

Theoretical Best

Office A

$1.37M

$1.20M – $1.59M (±1% cap)

NOI $95,680 @ 7.0% cap · market cap 10.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Debbie K. Ladd, ... Pediatrician Dr. Luke R. ... Medical Clinic Veterans Administration: Deborah ... Medical Clinic Lynnette A. Graesing, ARNP Physician Debra Ladd Physician

Suggested Use

Top Pick Law Firm Real Estate Agency Restaurant Parking Lot & Garage Building Supply Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

891

Businesses Nearby

Explore this area Business Placement

Demographics for 50501, IA

28,492

Population

13,198

Households

2.2

Avg Household Size

39

Median Age

20%

College-Educated

92%

High-School Grad

152.2 sq mi

ZIP Area

187

Density / Sq Mi

$66,130

Median Household Income

$36,934

Median Earnings

$779

Median Rent

$139,700

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Condo-style suite in Kingsgate Center, suited for professional services including medical, insurance, and retail.

Where is this office unit located?

The property is located at 2419 2nd Avenue North Fort Dodge, IA.

What is the asking price?

The asking price for this property is $949,500.

What are key features of this property?

This property features: Condo‑style suite in Kingsgate Center; Suitable for professional services including medical, insurance, food service, and retail