Medical Office Space with Multiple
321 E 3rd St N, Newton, IA 50208
For Sale
Contact for pricing
Build-to-suit configurations are available for medical and professional office users.
Property Size8,944 SF
Days on Market86
Property Features for 321 E 3rd St N
General Information
Standard status
Size
Property subtype
Additional Details
Utilities to Site
Property Use
Building Details
Year Built
Listing Agency:
Keller Williams Realty GDM
Listed By:
Darson Grantham · License #S68402000
(641) 745-0156
Source:
Centraliowahomesearch
Added: Aug 16
Changed: Nov 8
Last Checked: Nov 8 at 6:55AM
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 Keller Williams Realty GDM
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Investment Insights
Based on property information with market context.
The property offers approximately 3,958 SF of office space, with an additional 662 SF of garage space. Build-to-suit options and multiple entrances support flexible suite layouts; dedicated access may be arranged for an anchor tenant. Water and sewer service are available in most suites, and NNN lease terms apply.
Across the street from MercyOne Newton Medical Center, the property has off-street parking across the street and additional on-street spaces. Signage opportunities are available for an anchor tenant.
Across the street from MercyOne Newton Medical Center, the property has off-street parking across the street and additional on-street spaces. Signage opportunities are available for an anchor tenant.
Key Highlights
- Approximately 3,958 SF of office space, plus 662 SF of garage area
- Across the street from MercyOne Newton Medical Center
- Multiple entrances, with possible dedicated access for an anchor tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,846
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,356,920
$2.4M
Cap Rate 7%
$1,683,514
$1.7M
Cap Rate 9%
$1,309,400
$1.3M
Market Conditions
NOI Build-Up for 8,944 SF
Gross rent
$196.4K $21.96/SF
− Vacancy
−$39.3K −$4.39/SF
EGI
$157.1K $17.57/SF
− OpEx
−$39.3K −$4.39/SF
NOI
$117.8K $13.18/SF
Area
Jasper County, IA
Vacancy
20.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,356,920
Cap Rate 7%
$1,683,514
Cap Rate 9%
$1,309,400
Alternative Uses
Best Use
Healthcare Medical
$1.77M
$1.55M – $2.06M
NOI $123,738 @ 7.0% cap · market cap 12,373,800.00%
Second Best
Office B
$1.68M
$1.47M – $1.96M
NOI $117,846 @ 7.0% cap · market cap 11,784,600.00%
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,192 @ 7.0% cap · market cap 15,419,200.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 50208, IA
20,918
Population
8,919
Households
2.3
Avg Household Size
42
Median Age
17%
College-Educated
91%
High-School Grad
158.5 sq mi
ZIP Area
132
Density / Sq Mi
$61,064
Median Household Income
$37,490
Median Earnings
$830
Median Rent
$161,900
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Build-to-suit configurations are available for medical and professional office users.
Where is this medical office space located?
The property is located at 321 E 3rd St N Newton, IA.
What are key features of this property?
This property features: Approximately 3,958 SF of office space, plus 662 SF of garage area; Across the street from MercyOne Newton Medical Center; Multiple entrances, with possible dedicated access for an anchor tenant
