Live-Work Commercial
312 W Wood Street Urbana, IA 52345
For Sale
$120,000
COMMERCIAL - Urbana, IA
Property Size1,680 SF
Price / SF$71.43
Days on Market124
Property Features for 312 W Wood Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- comm
- 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
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: Jun 17
Last Checked: Jul 26 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 live-work commercial property is currently configured for a salon, with two styling stations, a wash station, a reception and waiting area, two private offices, and a lounge area. The layout is designed to support professional services and related uses, and it could be reconfigured for other business types based on tenant needs.
The property includes an attached one-bedroom apartment that is fully rented. This combination of commercial space and residential unit can be useful for an operator seeking on-site living or an investor looking to pair business and rental income within one asset.
For a prospective owner-operator, the existing interior setup provides functional areas for client-facing operations, including reception, treatment or styling space, and private office rooms. For buyers and investors, the apartment offers an additional income component while the commercial portion remains flexible for a range of professional uses such as healthcare-adjacent services, office uses, or specialty retail, subject to applicable requirements.
The property includes an attached one-bedroom apartment that is fully rented. This combination of commercial space and residential unit can be useful for an operator seeking on-site living or an investor looking to pair business and rental income within one asset.
For a prospective owner-operator, the existing interior setup provides functional areas for client-facing operations, including reception, treatment or styling space, and private office rooms. For buyers and investors, the apartment offers an additional income component while the commercial portion remains flexible for a range of professional uses such as healthcare-adjacent services, office uses, or specialty retail, subject to applicable requirements.
Key Highlights
- Built in 1906 with a membrane roof
- Currently set up as a salon with two styling stations, wash station, reception/waiting, lounge, and two private offices
- Attached one‑bedroom apartment is fully rented, providing immediate rental income
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $14.1k | $8.40 |
| − Vacancy | −$3.4k | −$2.00 |
| EGI | $10.8k | $6.40 |
| − OpEx | −$2.7k | −$1.60 |
| NOI | $8.1k | $4.80 |
1,680 SF · lease $8.40/SF/yr · vacancy 23.77% · expense 25.00%
Alternative Uses
Best Use
Mixed Use
$203.1K
$177.7K – $237.0K
NOI $14,219 @ 7.0% cap · market cap 11.85%
Second Best
Office B
$115.3K
$100.9K – $134.5K
NOI $8,068 @ 7.0% cap · market cap 6.72%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
FAQs
What type of property is this?
Live-work space - Flexible commercial space currently set up for a salon, plus a fully rented attached one-bedroom apartment.
Where is this live-work space 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: Built in 1906 with a membrane roof; Currently set up as a salon with two styling stations, wash station, reception/waiting, lounge, and two private offices; Attached one‑bedroom apartment is fully rented, providing immediate rental income
