Flex Space with Private Overhead
For Sale
$169,775
3045 Capital Way, Cedar Falls, IA 50613
COMMERCIAL - Cedar Falls, IA
Property Size1,485 SF
Lot Size3.00 Acres
Price / SF$114.33
Days on Market198
Property Features for 3045 Capital Way
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
m-1
Directions
West off Hudson Rd to Viking Rd curve South to Production DR to Capital way
Standard status
Active
APN
891434277000
Lot size
3.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WEST VIKING RD IND PARK PHASE I LOT 6
Legal Description
WEST VIKING RD IND PARK PHASE I LOT 6
Building Details
Year built
2025
Listing Agency:
Structure Real Estate
(319) 260-2016
Listed By:
Brian Wingert · License #B60468000
(319) 404-4884
Added: Jan 30
Changed: Aug 4
Last Checked: Aug 16 at 6:06PM
MLS# 20260400
Copyright © 2026 Northeast Iowa Regional 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.
Newly built flex space under construction designed for storage-condo style ownership with adaptable use for small business or personal recreation. The condo-style unit is described as 1485 SF inside a 33x45 space with 16' ceilings, featuring a 12' wide by 14' tall overhead door and a walk-in door adjacent to the overhead door. The unit includes insulated walls, a heating/cooling unit, and a finished bathroom.
The property is located at 3045 Capital Way in Cedar Falls’ Industrial Park. The development is planned for separate electric and water meters per unit.
Zoned M-1, the site comprises 3 acres and is scheduled for completion with a 2025 year built. This offering is set up for those seeking individual, own-your-own suite use within a small-business and industrial environment.
The property is located at 3045 Capital Way in Cedar Falls’ Industrial Park. The development is planned for separate electric and water meters per unit.
Zoned M-1, the site comprises 3 acres and is scheduled for completion with a 2025 year built. This offering is set up for those seeking individual, own-your-own suite use within a small-business and industrial environment.
Key Highlights
- 1485 SF condo‑style flex space in a 33x45 unit plan
- 12' wide x 14' tall overhead door plus walk‑in door adjacent
- Insulated walls, heating/cooling unit, and finished bathroom
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
$6,662
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
3.92%
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%
$133,240
$133.2K
Cap Rate 7%
$95,171
$95.2K
Cap Rate 9%
$74,022
$74.0K
Market Conditions
NOI Build-Up for 1,485 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
$10.9K $7.32/SF
− Vacancy
−$621 −$0.42/SF
EGI
$10.2K $6.90/SF
− OpEx
−$3.6K −$2.42/SF
NOI
$6.7K $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%
$133,240
Cap Rate 7%
$95,171
Cap Rate 9%
$74,022
Alternative Uses
Best Use
Warehouse
$1.50M
$1.31M – $1.75M
NOI $105,116 @ 7.0% cap · market cap 61.91%
Second Best
Industrial
$1.24M
$1.08M – $1.44M
NOI $86,566 @ 7.0% cap · market cap 50.99%
Theoretical Best
Mixed Use
$1.86M
$1.63M – $2.17M
NOI $130,309 @ 7.0% cap · market cap 76.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
62
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 - New flex space in an M-1 industrial setting with insulated walls, HVAC, and a private overhead door.
Where is this flex space located?
The property is located at 3045 Capital Way Cedar Falls, IA.
What is the asking price?
The asking price for this property is $169,775.
What are key features of this property?
This property features: 1485 SF condo‑style flex space in a 33x45 unit plan; 12' wide x 14' tall overhead door plus walk‑in door adjacent; Insulated walls, heating/cooling unit, and finished bathroom
