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    Industrial Flex Building with Overhead Doors Title is generated by Realmo AI

    2605 Southwest Avenue, Harlan, IA 51537

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    Insulated industrial building on Industrial-2 zoning with three overhead doors, offices, and heated bay options.

    Type:Land, Office, Business for Sale
    Property size:
    3,520 SF
    Lot size:
    1.20 Acres
    Price / SF:
    $56/SF
    Added:
    Jun 1, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 6 at 3:00 am

    Property Features for 2605 Southwest Avenue

    General Information

    Standard status
    Active
    Size
    3,520 SF
    Lot size
    1.20 Acres
    Property subtype
    Land, Office, Business for Sale

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Randy Ouren

    Listing agent Randy Ouren License #B13684000

    Listing office Ouren Real Estate

    Listing date Jun 1, 2026

    Source Crexi

    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 Ouren Real Estate

    HighLights

    • 3,520 sq. ft. insulated metal building with a milled wood frame on approx. 1.2 acres (m/l)
    • Industrial‑2 zoning with three large overhead doors for warehouse or shop access
    • Heated options include one bay with in‑floor heat and another with a hanging electric heater
    • Includes gravel parking and a concrete approach for on‑site vehicle access
    • Interior features two offices, a half bath, and a storage area

    Overview

    The property is a 3,520 sq. ft. insulated metal building with a milled wood frame, set on approximately 1.2 acres m/l. The interior includes two offices and a half bath, along with a storage area for general operational needs. There are three large overhead doors, supporting convenient drive-in access for equipment and inventory. One bay is equipped with in-floor heat, and another includes a hanging electric heater, providing flexibility for temperature-sensitive work or varied uses.

    The site provides plenty of gravel parking and a concrete approach to support arrivals and daily operations. The property is zoned Industrial-2, which should align with industrial or commercial activity for qualified buyers.

    For tenants or buyers seeking a functional industrial-flex setup, the combination of insulated warehouse space, multiple overhead doors, and dedicated office space can support a range of light industrial and service-oriented uses. Heated options in more than one bay help accommodate different operating needs, while the existing layout offers an on-site workspace for coordination and administration.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Hy-Vee Catering — 2003 Chatburn Ave, Harlan, IA 51537

    Location Insight

    • Map
    • Local Demand
    City
    Harlan
    County
    Shelby
    State
    Iowa
    Longitude
    -95.3224293
    Latitude
    41.6430952

    FAQs

    What type of property is this?
    Flex space - Insulated industrial building on Industrial-2 zoning with three overhead doors, offices, and heated bay options.
    Where is this flex space located?
    The property is located at 2605 Southwest Avenue Harlan, IA.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: 3,520 sq. ft. insulated metal building with a milled wood frame on approx. 1.2 acres (m/l); Industrial‑2 zoning with three large overhead doors for warehouse or shop access; Heated options include one bay with in‑floor heat and another with a hanging electric heater
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Randy Ouren
    Real Estate License ID: B13684000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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