Industrial Flex Space with Overhead
For Sale
$329,900
3035 Capital Way #7/8, Cedar Falls, IA 50613
Updated flex unit with office areas, shower-equipped bathroom, HVAC, and finished interior surfaces.
Property Size2,475 SF
Price / SF$133.29
Days on Market214
Property Features for 3035 Capital Way #7/8
General Information
Standard status
Active
Size
2,475 SF
Property subtype
Commercial
Zoning
m-1
Taxes and HOA fees
Annual Taxes
$1,561
Building Details
Building Size
2,475 SF
Year Built
2023
Listing Agency:
Structure Real Estate
(319) 404-4884
Listed By:
Brian Wingert · License #B60468000
(319) 404-4884
Source:
Sweeneyrealestate
Added: Jan 9
Changed: Aug 11
Last Checked: Aug 11 at 2:29PM
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 Structure Real Estate
Investment Insights
Based on property information with market context.
This 2,475-square-foot flex unit in a 2023 building is configured for adaptable commercial use and is currently set up as a gym, fitness, and recovery center. The space includes a 12-by-14-foot overhead door, finished and painted walls, full furnace and A/C capabilities, two office areas, and a bathroom with shower. The existing sport court, hoops, sauna, plunge, dish machine, and gym equipment are available separately from the real estate purchase.
Located at 3035 Capital Way in Cedar Falls, the property is identified as M-1 zoning. The unit may be delivered with its current improvements or modified by removing the hoops and court, subject to the applicable transaction terms. The building is offered as-is, providing a finished flex-space configuration with warehouse-style access and supporting office and restroom improvements.
Located at 3035 Capital Way in Cedar Falls, the property is identified as M-1 zoning. The unit may be delivered with its current improvements or modified by removing the hoops and court, subject to the applicable transaction terms. The building is offered as-is, providing a finished flex-space configuration with warehouse-style access and supporting office and restroom improvements.
Key Highlights
- 2,475 SF flex unit in a 2023 building
- 12‑by‑14‑foot overhead door with finished, painted walls
- Full furnace and A/C capabilities
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
$11,104
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
3.37%
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%
$222,080
$222.1K
Cap Rate 7%
$158,629
$158.6K
Cap Rate 9%
$123,378
$123.4K
Market Conditions
NOI Build-Up for 2,475 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
$18.1K $7.32/SF
− Vacancy
−$1.0K −$0.42/SF
EGI
$17.1K $6.90/SF
− OpEx
−$6.0K −$2.42/SF
NOI
$11.1K $4.49/SF
Area
Black Hawk County, IA
Vacancy
5.71%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
35.00%
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%
$222,080
Cap Rate 7%
$158,629
Cap Rate 9%
$123,378
Alternative Uses
Best Use
Industrial
$2.06M
$1.80M – $2.40M
NOI $144,277 @ 7.0% cap · market cap 43.73%
Second Best
Flex RnD
$158.6K
$138.8K – $185.1K
NOI $11,104 @ 7.0% cap · market cap 3.37%
Theoretical Best
Mixed Use
$3.10M
$2.71M – $3.62M
NOI $217,181 @ 7.0% cap · market cap 65.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Updated flex unit with office areas, shower-equipped bathroom, HVAC, and finished interior surfaces.
Where is this flex space located?
The property is located at 3035 Capital Way #7/8 Cedar Falls, IA.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 2,475 SF flex unit in a 2023 building; 12‑by‑14‑foot overhead door with finished, painted walls; Full furnace and A/C capabilities
