Corner Storefront
For Sale
$699,000
320 1st Street, Cedar Falls, IA 50613
Open-concept building positioned at the intersection of 1st Street and Franklin Street in Cedar Falls.
Property Size2,207 SF
Price / SF$316.72
Days on Market10
Property Features for 320 1st Street
General Information
Standard status
Active
Size
2,207 SF
Property subtype
General Commercial
Site & Location
Corner Location
Yes
Traffic Count
18,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$16,380
Amenities
3
Building Details
Year Built
1930
Buildings
1
Tenancy
Single
Owner Occupied
No
Abandoned
No
Listing Agency:
(319) 404-4884
Listed By:
Structure Real Estate
(319) 404-4884
Source:
Xome
Added: Jul 31
Changed: Aug 9
Last Checked: Aug 9 at 4:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Structure Real Estate
Investment Insights
Based on property information with market context.
This storefront property at 320 1st Street offers an open-concept interior within a building constructed in 1930. The layout can support business, office, or retail use, with the source remarks noting the potential for an uncomplicated remodel. The property has been occupied by the same tenant for more than 30 years.
Located at the corner of 1st Street, identified as Hwy 57, and Franklin Street in Cedar Falls, the site experiences reported traffic of more than 18,000 cars per day. Adjacent properties to the south are confirmed available for purchase, although they are not under the same ownership, creating a documented possibility for assembling a larger redevelopment area.
Located at the corner of 1st Street, identified as Hwy 57, and Franklin Street in Cedar Falls, the site experiences reported traffic of more than 18,000 cars per day. Adjacent properties to the south are confirmed available for purchase, although they are not under the same ownership, creating a documented possibility for assembling a larger redevelopment area.
Key Highlights
- Hard‑corner location at 1st Street and Franklin Street in Cedar Falls
- Reported traffic volume exceeds 18,000 cars per day
- Open‑concept building suitable for business, office, or retail use
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
$21,897
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
3.13%
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%
$437,940
$437.9K
Cap Rate 7%
$312,814
$312.8K
Cap Rate 9%
$243,300
$243.3K
Market Conditions
NOI Build-Up for 2,207 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
$34.2K $15.48/SF
− Vacancy
−$2.9K −$1.31/SF
EGI
$31.3K $14.17/SF
− OpEx
−$9.4K −$4.25/SF
NOI
$21.9K $9.92/SF
Area
Black Hawk County, IA
Vacancy
8.44%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$437,940
Cap Rate 7%
$312,814
Cap Rate 9%
$243,300
Alternative Uses
Best Use
Retail
$312.8K
$273.7K – $365.0K
NOI $21,897 @ 7.0% cap · market cap 3.13%
Second Best
Office B
$206.5K
$180.7K – $240.9K
NOI $14,454 @ 7.0% cap · market cap 2.07%
Theoretical Best
Mixed Use
$2.77M
$2.42M – $3.23M
NOI $193,664 @ 7.0% cap · market cap 27.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 1800 flowers — 320 W 1st St, Cedar Falls, IA 50613
Frequently Asked Questions
What type of property is this?
Storefront property - Open-concept building positioned at the intersection of 1st Street and Franklin Street in Cedar Falls.
Where is this storefront property located?
The property is located at 320 1st Street Cedar Falls, IA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Hard‑corner location at 1st Street and Franklin Street in Cedar Falls; Reported traffic volume exceeds 18,000 cars per day; Open‑concept building suitable for business, office, or retail use
