Industrial Warehouse with Insulated
For Sale
$905,000
2700 Stonegate Court, Hiawatha, IA 52233
COMMERCIAL - Hiawatha, IA
Property Size8,448 SF
Lot Size1.06 Acres
Price / SF$107.13
Days on Market168
Property Features for 2700 Stonegate Court
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Ind
Directions
Corner of Robins Rd and Stonegate Ct
Subdivision
Hiawatha/Robins
Standard status
Active
APN
11282-76004-00000
Size
8,448 SF
Lot size
1.06 Acres
Taxes and HOA fees
Tax Description
Stonegate 4th
Tax Annual Amount
23096
Legal Description
Stonegate 4th
Building Details
Year built
2008
Flooring type
Carpet, Concrete
Roof type
Shingle
Listing Agency:
Realty87 · Coldwell Banker Real Estate
(319) 378-8760
Listed By:
Laurdyn DeNeve-Meyer
(319) 367-8760
Added: Mar 1
Changed: Aug 4
Last Checked: Aug 16 at 9:06PM
MLS# 2601384
Copyright © 2026 Cedar Rapids Area Association 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.
Industrial warehouse totaling 8,448 SF on a 1.06-acre site, built in 2008. The shop is heavily insulated and includes approximately 22' ceilings, concrete construction, and a floor drain, with air compressor hose stations. The building has (3) 14x14/16 insulated overhead doors and (1) 7x14 insulated overhead door, plus 5 service entry doors. Electrical is listed as 110 & 220 AMP. The property includes two office areas on both levels with vinyl windows and an attached kitchenette, and it has 3 total bathrooms including 2 handicap accessible.
The warehouse is currently divided into 3 bays but could be converted to just 2. There is ample paved parking and storage in the front, side, and rear. The roof is shingle, and interior flooring is concrete and carpet.
Located at 2700 Stonegate Court in Hiawatha, IA, the property is described as convenient to Cedar Rapids, Hiawatha, and Robins, near Boyson Road and Center Point Road.
The warehouse is currently divided into 3 bays but could be converted to just 2. There is ample paved parking and storage in the front, side, and rear. The roof is shingle, and interior flooring is concrete and carpet.
Located at 2700 Stonegate Court in Hiawatha, IA, the property is described as convenient to Cedar Rapids, Hiawatha, and Robins, near Boyson Road and Center Point Road.
Key Highlights
- 8,448 SF industrial warehouse on a 1.06‑acre lot built in 2008
- Heavily insulated shop with approximately 22' ceilings and concrete construction
- (3) 14x14/16 insulated overhead doors plus (1) 7x14 insulated overhead door
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
$49,833
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
5.51%
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%
$996,660
$996.7K
Cap Rate 7%
$711,900
$711.9K
Cap Rate 9%
$553,700
$553.7K
Market Conditions
NOI Build-Up for 8,448 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
$62.2K $7.36/SF
− Vacancy
−$3.6K −$0.42/SF
EGI
$58.6K $6.94/SF
− OpEx
−$8.8K −$1.04/SF
NOI
$49.8K $5.90/SF
Area
Linn County, IA
Vacancy
5.71%
Lease Rate
$7.36 /SF/Yr
Expense Ratio
15.00%
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%
$996,660
Cap Rate 7%
$711,900
Cap Rate 9%
$553,700
Alternative Uses
Best Use
Warehouse
$711.9K
$622.9K – $830.6K
NOI $49,833 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$1.42M
$1.24M – $1.66M
NOI $99,526 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52233, IA
7,091
Population
3,123
Households
2.3
Avg Household Size
39
Median Age
31%
College-Educated
97%
High-School Grad
3.9 sq mi
ZIP Area
1,818
Density / Sq Mi
$66,497
Median Household Income
$44,111
Median Earnings
$846
Median Rent
$200,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Quick N Easy Self Storage — 1450 Robins Rd, Hiawatha, IA 52233
Frequently Asked Questions
What type of property is this?
Warehouse - Insulated 8,448 SF warehouse on 1.06 acres with multiple overhead doors, office space, and paved parking.
Where is this warehouse located?
The property is located at 2700 Stonegate Court Hiawatha, IA.
What is the asking price?
The asking price for this property is $905,000.
What are key features of this property?
This property features: 8,448 SF industrial warehouse on a 1.06‑acre lot built in 2008; Heavily insulated shop with approximately 22' ceilings and concrete construction; (3) 14x14/16 insulated overhead doors plus (1) 7x14 insulated overhead door
