Building Details

Year built 1977

Floors in Building 1

Building materials Frame

Roof type Metal

Listing Agency: RE/MAX REAL ESTATE CENTER · RE/MAX International a***@qwestoffice.net

Listed By: Betts Team · License #B67497 Show Phone

Added: Oct 22 Last Checked: Oct 23 at 2:06AM

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MLS# 71640

Copyright © 2026 Central Iowa Board of Realtors, Inc. 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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Investment Insights

Based on property information with market context.

This 3,588-square-foot flex property in Maxwell occupies a 0.35-acre lot. Built in 1977, the frame building was enlarged in 2008 with a 1,138-square-foot addition to the original 2,450 square feet. The interior has a metal liner, suspended natural-gas heat, approximately 250 square feet of heated office space, a toilet room and a service sink. Two overhead doors measure 16 feet wide by 12 feet high, and the sidewalls are 14 feet tall. The site also includes 1,120 square feet of concrete parking.

The property is in South Story County, with access to Ames, Ankeny and the Des Moines metro described as easy. Public water and public sewer serve the site, which is zoned C.

Key Highlights

• 3,588‑square‑foot building on a 0.35‑acre lot
• Two overhead doors, each 16 ft wide x 12 ft high; 14 ft sidewall height
• Approximately 250 SF of heated office space, plus a toilet room and service sink

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,641

Cap Rate

5.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$372,820 $372.8K

Cap Rate 7%

$266,300 $266.3K

Cap Rate 9%

$207,122 $207.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,588 SF

Gross rent

$26.3K $7.32/SF

− Vacancy

−$4.3K −$1.21/SF

EGI

$21.9K $6.11/SF

− OpEx

−$3.3K −$0.92/SF

NOI

$18.6K $5.20/SF

Area

Story County, IA

Vacancy

16.50%

Lease Rate

$7.32 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$372,820

Cap Rate 7%

$266,300

Cap Rate 9%

$207,122

Alternative Uses

Best Use

Warehouse

$266.3K

$233.0K – $310.7K (±1% cap)

NOI $18,641 @ 7.0% cap · market cap 5.74%

Second Best

Industrial

$246.4K

$215.6K – $287.4K (±1% cap)

NOI $17,245 @ 7.0% cap · market cap 5.31%

Theoretical Best

Office A

$838.5K

$733.7K – $978.2K (±1% cap)

NOI $58,694 @ 7.0% cap · market cap 18.06%

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

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Iowa Central Electric General Contractor

Suggested Use

Top Pick Auto Repair Shop Big Box & Wholesale Store Storage Facility Grocery & Convenience Store Butcher Hair Salon

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

Lease Details

14 ft

Clear height

2

Drive-in doors

Location Intelligence

Trade Area within ½ mile

240

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 50161, IA

2,017

Population

938

Households

2.2

Avg Household Size

42

Median Age

28%

College-Educated

90%

High-School Grad

79.2 sq mi

ZIP Area

25

Density / Sq Mi

$93,281

Median Household Income

$52,862

Median Earnings

$846

Median Rent

$204,600

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Similar Off Market Nearby

• Ruzicka's Catering — 301 N Dubuque St, Solon, IA 52333

Frequently Asked Questions

What type of property is this?

Flex space - Heated work and storage space includes office support, plumbing fixtures and an exterior concrete parking area.

Where is this flex space located?

The property is located at 310 Short Street Maxwell, IA.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 3,588‑square‑foot building on a 0.35‑acre lot; Two overhead doors, each 16 ft wide x 12 ft high; 14 ft sidewall height; Approximately 250 SF of heated office space, plus a toilet room and service sink