Building Details

Building materials Metal

Architectural style Other

Listing Agency: EXIT REALTY MASON CITY b***@hotmail.com

Listed By: ZELDA ELWOOD Show Phone

Added: Jul 1, 2024 Changed: Aug 19 Last Checked: Oct 6 at 3:06PM

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MLS# 240438

Copyright © 2026 Greater Mason City Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This flex-space property offers vanilla-box suites measuring 30 X 50, providing an open commercial layout for owner customization. Each suite includes a dedicated 200 amp electrical panel, 6 lights, 6 outlets, a 14' garage door, and a separate walk-in door. The property’s metal construction supports a straightforward commercial setting for a range of build-out concepts.

Z4 - Multi-Use District zoning is in place at 2505 S Federal in Mason City, Iowa. Four suites remain out of the six-suite project, giving purchasers a choice of available spaces within the development.

Key Highlights

• 30 X 50 vanilla‑box suites
• 4 suites out of 6 left
• Each unit has its own 200 amp electrical panel

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,694

Cap Rate

5.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$173,880 $173.9K

Cap Rate 7%

$124,200 $124.2K

Cap Rate 9%

$96,600 $96.6K

Market Conditions

NOI Build-Up for 1,500 SF

Gross rent

$13.5K $9.00/SF

− Vacancy

−$1.1K −$0.72/SF

EGI

$12.4K $8.28/SF

− OpEx

−$3.7K −$2.48/SF

NOI

$8.7K $5.80/SF

Area

Cerro Gordo County, IA

Vacancy

8.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$173,880

Cap Rate 7%

$124,200

Cap Rate 9%

$96,600

Alternative Uses

Best Use

Industrial

$124.2K

$108.7K – $144.9K (±1% cap)

NOI $8,694 @ 7.0% cap · market cap 5.11%

Second Best

Flex RnD

$122.1K

$106.8K – $142.4K (±1% cap)

NOI $8,546 @ 7.0% cap · market cap 5.03%

Theoretical Best

Office A

$376.5K

$329.5K – $439.3K (±1% cap)

NOI $26,358 @ 7.0% cap · market cap 15.50%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Restaurant Dental Office Law Firm Hair Salon Big Box & Wholesale Store

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

Lease Details

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

152

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 50401, IA

28,981

Population

14,746

Households

2

Avg Household Size

43

Median Age

22%

College-Educated

94%

High-School Grad

148.2 sq mi

ZIP Area

196

Density / Sq Mi

$63,807

Median Household Income

$38,929

Median Earnings

$868

Median Rent

$134,100

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Adaptable vanilla-box commercial suites feature dedicated electrical service, overhead access, and walk-in entry.

Where is this flex space located?

The property is located at 2505 S Federal Suite 3 Mason City, IA.

What is the asking price?

The asking price for this property is $170,000.

What are key features of this property?

This property features: 30 X 50 vanilla‑box suites; 4 suites out of 6 left; Each unit has its own 200 amp electrical panel