Building Details

Year built 1906

Roof type Membrane

Listing Agency: Pinnacle Realty LLC d***@pinnaclerealtyia.com Show Phone

Listed By: Adam Green Show Phone

Added: Sep 1 Changed: Oct 18 Last Checked: Oct 23 at 3:06AM

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MLS# 2606159

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.

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Investment Insights

Based on property information with market context.

This 1,680-square-foot mixed-use property, built in 1906, combines an operating salon configuration with an attached residential unit. The commercial area includes two styling stations, a wash station, reception and waiting space, two private offices, and a lounge. The layout is also identified as suitable for salon, dog grooming, massage, chiropractic, insurance, professional office, and boutique retail uses.

The one-bedroom apartment is currently rented, providing an existing residential component alongside the commercial space. The property is zoned C1,R1 and has a membrane roof. Located at 312 W Wood Street in Urbana, Iowa, the building offers a combination of commercial functionality and on-site residential occupancy.

Key Highlights

• 1,680 SF mixed‑use property built in 1906
• Salon configuration with two styling stations and a wash station
• Commercial area includes reception, waiting space, two private offices, and a lounge

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,068

Cap Rate

7.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$161,360 $161.4K

Cap Rate 7%

$115,257 $115.3K

Cap Rate 9%

$89,644 $89.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,680 SF

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 Rate 5%

$161,360

Cap Rate 7%

$115,257

Cap Rate 9%

$89,644

Alternative Uses

Best Use

Mixed Use

$203.1K

$177.7K – $237.0K (±1% cap)

NOI $14,219 @ 7.0% cap · market cap 12.36%

Second Best

Office B

$115.3K

$100.9K – $134.5K (±1% cap)

NOI $8,068 @ 7.0% cap · market cap 7.02%

Theoretical Best

Specialty Retail

$243.1K

$212.8K – $283.7K (±1% cap)

NOI $17,020 @ 7.0% cap · market cap 14.80%

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

Property Analytics

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Current Use

Spa & wellness properties

Suggested Use

Top Pick Building Supply Electrical Service Auto Parts Store Plumbing Service Pharmacy (Bike/Boat/Book/etc) Store

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

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

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?

Mixed-use property - Commercial space includes offices, customer areas, and 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 $115,000.

What are key features of this property?

This property features: 1,680 SF mixed‑use property built in 1906; Salon configuration with two styling stations and a wash station; Commercial area includes reception, waiting space, two private offices, and a lounge