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    Divisible Flex Space in Adel Title is generated by Realmo AI

    27759 Fairground Rd, Adel, IA 50003

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    Flexible spaces available in Adel, Iowa with high ceilings.

    Type:Industrial
    Property size:
    2,880 SF
    Added:
    Mar 5, 2026
    Days on Market:
    70
    Last Refresh:
    Mar 16 at 11:33 am

    Property Features for 27759 Fairground Rd

    General Information

    Standard status
    Active
    Size
    2,880 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    2019

    Spaces For Lease

    at 27759 Fairground Rd Contact us

    Ste E $850 /Mo

    Size
    720 SF
    Type
    Industrial
    The property offers 720 SF divisible spaces, with up to 2,880 SF total available,...
    show more
    Contact us

    We can help!

    Listing Contact
    Wade Laughridge

    Listing agent Wade Laughridge License #s73388000

    Listing office Toggle Space

    Listing date Mar 5, 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 Toggle Space

    HighLights

    • Flexible space options: Divisible spaces from 720 SF up to 2,880 SF or 1,000 SF up to 6,000 SF, catering to various tenant sizes.
    • Convenient location: Situated in the rapidly developing community of Adel, Iowa, at 27759 Fairground Road.
    • High ceilings: Each space features a 20’ clear height.
    • Equipped with 18’ overhead doors for easy access and loading.
    • Affordable rent: $850/month MG or $1180 Per Bay / Month MG.
    • Relatively new construction: Built in 2019.

    Overview

    This property offers divisible spaces starting at 720 square feet, with a total of 2,880 square feet available. The location at 27759 Fairground Road in Adel, Iowa, provides accessibility within the growing Adel community. Each space features a 20-foot clear height and an 18-foot overhead door. The monthly rate is $850 MG, with estimated utilities ranging from $50 to $100 per month. Additionally, there is a proposed building with 6,000 square feet, offering minimum divisible 1,000 square foot bays and a maximum contiguous space of 6,000 square feet, available for $1180 per bay per month MG, also featuring 20-foot clear height and 18-foot overhead doors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Auto Repair Shop Hotel & Motel Gym & Fitness Center Auto Parts Store Department Store Food Market Storage Facility Discount Store Furniture & Home Goods

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

    Location Insight

    • Map
    • Local Demand
    City
    Adel
    County
    Dallas
    State
    Iowa
    Longitude
    -94.0238983
    Latitude
    41.6323531

    FAQs

    What type of property is this?
    Flex space - Flexible spaces available in Adel, Iowa with high ceilings.
    Where is this flex space located?
    The property is located at 27759 Fairground Rd Adel, IA.
    What are key features of this property?
    This property features: Flexible space options: Divisible spaces from 720 SF up to 2,880 SF or 1,000 SF up to 6,000 SF, catering to various tenant sizes.; Convenient location: Situated in the rapidly developing community of Adel, Iowa, at 27759 Fairground Road.; High ceilings: Each space features a 20’ clear height.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Wade Laughridge
    Real Estate License ID: s73388000
    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.

    More about this property
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