Veterinary Medical
New
For Sale
$1,000,000
3350 SE 82nd Street, Runnells, IA 50237
Commercial Sale, Runnells, IA
Property Size6,394 SF
Lot Size2.87 Acres
Price / SF$156.40
Days on Market3
Property Features for 3350 SE 82nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
Please use GPS to locate this property
Subdivision
Runnells
Standard status
Active
APN
160/00398-005-000
Size
6,394 SF
Lot size
2.87 Acres
Taxes and HOA fees
Tax Annual Amount
12928
Utilities
Sewer type
Public Sewer, Septic Tank
Heating system
Hot Water(Heating)
Cooling system
Central Air
Amenities
operating room
recovery room
dedicated pharmacy build-out
in-floor radiant heat
two boiler systems
dual crane lifts
4-foot wide doorways
X-ray lighting
microbial floor coating
integrated fly system
pressure washer
8 interior stalls
kitchen
2 bathrooms
Building Details
Year built
1995
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
RE/MAX REAL ESTATE CENTER · RE/MAX International
2324663
Listed By:
Real Estate Team, Jennings · License #S39814
(515) 291-8720
Added: Sep 25
Last Checked: Sep 27 at 12:06PM
MLS# 71368
Copyright © 2026 Central Iowa Board of Realtors, Inc. 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.
Built in 1995 and remodeled approximately 5–6 years ago, this veterinary clinic includes an operating room, recovery room, and dedicated pharmacy build-out. Eight interior stalls support animal care, while 4-foot-wide doorways accommodate large animals. Additional features include in-floor radiant heat, two boiler systems, dual crane lifts, X-ray lighting integrated into the walls, microbial floor coating, a fly system, and a pressure washer. The building also has a kitchen and two bathrooms, with concrete flooring, central air, and a metal roof.
The property occupies 2.87 acres and includes 5,920 SF of asphalt paving. A 60x120 covered arena, totaling 7,200 SF, is directly adjacent on a neighboring parcel and is available for separate purchase.
The property occupies 2.87 acres and includes 5,920 SF of asphalt paving. A 60x120 covered arena, totaling 7,200 SF, is directly adjacent on a neighboring parcel and is available for separate purchase.
Key Highlights
- Operating room, recovery room, and dedicated pharmacy build‑out
- Eight interior stalls and 4‑foot‑wide doorways for large animal access
- In‑floor radiant heat, two boiler systems, and dual crane lifts
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
$84,247
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
8.42%
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%
$1,684,940
$1.7M
Cap Rate 7%
$1,203,529
$1.2M
Cap Rate 9%
$936,078
$936.1K
Market Conditions
NOI Build-Up for 6,394 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
$140.4K $21.96/SF
− Vacancy
−$28.1K −$4.39/SF
EGI
$112.3K $17.57/SF
− OpEx
−$28.1K −$4.39/SF
NOI
$84.2K $13.18/SF
Area
Polk 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 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%
$1,684,940
Cap Rate 7%
$1,203,529
Cap Rate 9%
$936,078
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $84,247 @ 7.0% cap · market cap 8.42%
Second Best
Healthcare Medical
$1.01M
$886.7K – $1.18M
NOI $70,936 @ 7.0% cap · market cap 7.09%
Theoretical Best
Flex RnD
$6.16M
$5.39M – $7.18M
NOI $430,854 @ 7.0% cap · market cap 43.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50237, IA
3,153
Population
1,369
Households
2.3
Avg Household Size
43
Median Age
32%
College-Educated
97%
High-School Grad
48.5 sq mi
ZIP Area
65
Density / Sq Mi
$92,667
Median Household Income
$64,327
Median Earnings
$765
Median Rent
$326,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Similar Off Market Nearby
- Equine Referral Clinic — 3350 SE 82nd St, Runnells, IA 50237
Frequently Asked Questions
What type of property is this?
Medical Office Space - Clinical improvements include an operating room, recovery space, pharmacy build-out, and eight interior stalls.
Where is this medical office space located?
The property is located at 3350 SE 82nd Street Runnells, IA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Operating room, recovery room, and dedicated pharmacy build‑out; Eight interior stalls and 4‑foot‑wide doorways for large animal access; In‑floor radiant heat, two boiler systems, and dual crane lifts
