Building Details

Year built 1961

Flooring type Concrete

Buildings 1

Listing Agency: Keller Williams Realty Signature K***@KW.com Show Phone

Listed By: Paula Behr Show Phone

Added: Sep 10 Changed: Oct 23 Last Checked: Oct 30 at 12:06PM

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MLS# 202605783

Copyright © 2026 NorthWest Illinois Alliance 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.

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1,150-square-foot office building in Cascade, Iowa, contains three offices, an entry area, half bath, kitchenette, and furnace room. The property was built in 1961 and includes concrete flooring, forced-air natural gas heat, and central air conditioning.

A substantial remodel completed in July 2025 addressed the roof, insulation, interior drywall, electrical panel, plumbing, lighting, kitchenette, bath, cabinetry, flooring, and paint. The building is currently vacant and occupies a 0.16-acre lot at 308 NW 4th Avenue.

Key Highlights

• 1,150‑square‑foot office building on a 0.16‑acre lot
• Three offices with entry area, half bath, kitchenette, and furnace room
• July 2025 remodel included new PVC membrane roof and added insulation

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$5,523

Cap Rate

3.71%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$110,460 $110.5K

Cap Rate 7%

$78,900 $78.9K

Cap Rate 9%

$61,367 $61.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,150 SF

Gross rent

$9.7K $8.40/SF

− Vacancy

−$2.3K −$2.00/SF

EGI

$7.4K $6.40/SF

− OpEx

−$1.8K −$1.60/SF

NOI

$5.5K $4.80/SF

Area

Dubuque County, IA

Vacancy

23.77%

Lease Rate

$8.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$110,460

Cap Rate 7%

$78,900

Cap Rate 9%

$61,367

Alternative Uses

Best Use

Office B

$78.9K

$69.0K – $92.1K (±1% cap)

NOI $5,523 @ 7.0% cap · market cap 3.71%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$223.8K

$195.8K – $261.1K (±1% cap)

NOI $15,666 @ 7.0% cap · market cap 10.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Dental Office Big Box & Wholesale Store Electrical Service Storage Facility Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

184

Businesses Nearby

Explore this area Business Placement

Demographics for 52033, IA

3,478

Population

1,399

Households

2.5

Avg Household Size

39

Median Age

26%

College-Educated

95%

High-School Grad

98.4 sq mi

ZIP Area

35

Density / Sq Mi

$70,833

Median Household Income

$44,006

Median Earnings

$887

Median Rent

$210,600

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Office building - Vacant commercial office property with three offices, refreshed interiors, and convenient accessibility.

Where is this office building located?

The property is located at 308 NW 4th Avenue Cascade, IA.

What is the asking price?

The asking price for this property is $149,000.

What are key features of this property?

This property features: 1,150‑square‑foot office building on a 0.16‑acre lot; Three offices with entry area, half bath, kitchenette, and furnace room; July 2025 remodel included new PVC membrane roof and added insulation