Mixed-Use Property with
For Sale
$120,000
312 W Wood Street, Urbana, IA 52345
Commercial, Urbana, IA
Property Size1,680 SF
Price / SF$71.43
Days on Market152
Property Features for 312 W Wood Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
comm
Directions
On West Wood St, Urbana
Subdivision
OT-W (West of I-380)
Standard status
Active
APN
20016900
Size
1,680 SF
Taxes and HOA fees
Tax Description
CULVERS 1ST ADD E24' LOT 6 BLK 1
Tax Annual Amount
1600
Legal Description
CULVERS 1ST ADD E24' LOT 6 BLK 1
Building Details
Year built
1906
Roof type
Membrane
Listing Agency:
Pinnacle Realty LLC
(319) 393-0900
Listed By:
Adam Green
(319) 350-9476
Added: Mar 25
Changed: Aug 19
Last Checked: Aug 23 at 2:06PM
MLS# 2602013
Copyright © 2026 Cedar Rapids Area Association 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.
This 1,680-square-foot mixed-use property at 312 W Wood Street includes a commercial suite and an attached one-bedroom apartment. The commercial area is arranged for salon operations, with two styling stations, a wash station, reception and waiting space, two private offices, and a lounge. The adaptable interior may also support dog grooming, massage or chiropractic services, insurance operations, professional office use, or boutique retail, subject to applicable requirements.
The apartment is fully rented, adding a residential component to the property. Built in 1906, the building has a membrane roof and is identified with commercial zoning. Its combination of business space and an attached residential unit creates a practical mixed-use configuration in Urbana, Iowa.
The apartment is fully rented, adding a residential component to the property. Built in 1906, the building has a membrane roof and is identified with commercial zoning. Its combination of business space and an attached residential unit creates a practical mixed-use configuration in Urbana, Iowa.
Key Highlights
- 1,680 SF mixed‑use property at 312 W Wood Street
- Commercial area includes two styling stations and a wash station
- Layout features two private offices, reception, waiting space, and a lounge
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
$8,068
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
6.72%
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%
$161,360
$161.4K
Cap Rate 7%
$115,257
$115.3K
Cap Rate 9%
$89,644
$89.6K
Market Conditions
NOI Build-Up for 1,680 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
$14.1K $8.40/SF
− Vacancy
−$3.4K −$2.00/SF
EGI
$10.8K $6.40/SF
− OpEx
−$2.7K −$1.60/SF
NOI
$8.1K $4.80/SF
Area
Benton 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 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%
$161,360
Cap Rate 7%
$115,257
Cap Rate 9%
$89,644
Alternative Uses
Best Use
Retail
$226.9K
$198.6K – $264.8K
NOI $15,886 @ 7.0% cap · market cap 13.24%
Second Best
Mixed Use
$203.1K
$177.7K – $237.0K
NOI $14,219 @ 7.0% cap · market cap 11.85%
Theoretical Best
Specialty Retail
$243.1K
$212.8K – $283.7K
NOI $17,020 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Explore this area
Business Placement
Demographics for 52345, IA
1,572
Population
576
Households
2.7
Avg Household Size
34
Median Age
28%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
491
Density / Sq Mi
$112,929
Median Household Income
$53,646
Median Earnings
$774
Median Rent
$225,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property combines a salon layout with an attached one-bedroom apartment.
Where is this mixed-use property located?
The property is located at 312 W Wood Street Urbana, IA.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: 1,680 SF mixed‑use property at 312 W Wood Street; Commercial area includes two styling stations and a wash station; Layout features two private offices, reception, waiting space, and a lounge
