Insulated Warehouse with Radiant
For Sale
$599,000
3415 9th SW, Mason City, IA 50401
COMMERCIAL - Other - Mason City, IA
Property Size4,950 SF
Lot Size2.50 Acres
Price / SF$121.01
Days on Market477
Property Features for 3415 9th SW
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage, Open
Directions
See Google Maps
Standard status
Active
APN
070737800300
Lot size
2.50 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
L 9 Westgate Business Park
Tax Annual Amount
794
Legal Description
L 9 Westgate Business Park
Utilities
Heating system
Radiant
Water source
Public
Building Details
Year built
2022
Number of units
1
Building materials
Metal Siding
Architectural style
Other
Listing Agency:
Century 21 Preferred
(641) 424-9400
Listed By:
Denise Ott · License #S72875
(641) 330-7031
Added: May 1, 2025
Changed: Aug 19
Last Checked: Aug 20 at 8:06AM
MLS# 6327229
Copyright © 2026 NoCoast MLS. 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 2022, this 4,950-square-foot warehouse occupies 2.5 acres and features metal siding, full insulation, and 17-foot sidewalls. The building includes a 7-inch concrete floor with two floor drains, radiant heating, three-phase electrical service with 400-amp capacity, and a full bathroom with shower. Two overhead doors measure 15 feet by 15 feet, while the third measures 15 feet by 20 feet; all three include remote controls.
Located at 3415 9th SW in Mason City, the property has public water and both garage and open parking features. The combination of acreage, utility infrastructure, overhead access, and finished interior support warehouse operations and business expansion.
Located at 3415 9th SW in Mason City, the property has public water and both garage and open parking features. The combination of acreage, utility infrastructure, overhead access, and finished interior support warehouse operations and business expansion.
Key Highlights
- 4,950‑square‑foot warehouse built in 2022 on 2.5 acres
- Three overhead doors: two at 15' x 15' and one at 15' x 20'
- Three‑phase electrical service with 400‑amp capacity
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
$34,838
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
5.82%
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%
$696,760
$696.8K
Cap Rate 7%
$497,686
$497.7K
Cap Rate 9%
$387,089
$387.1K
Market Conditions
NOI Build-Up for 4,950 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
$44.6K $9.00/SF
− Vacancy
−$3.6K −$0.72/SF
EGI
$41.0K $8.28/SF
− OpEx
−$6.1K −$1.24/SF
NOI
$34.8K $7.04/SF
Area
Cerro Gordo County, IA
Vacancy
8.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$696,760
Cap Rate 7%
$497,686
Cap Rate 9%
$387,089
Alternative Uses
Best Use
Warehouse
$497.7K
$435.5K – $580.6K
NOI $34,838 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,981 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 50401, IA
28,981
Population
14,746
Households
2
Avg Household Size
43
Median Age
22%
College-Educated
94%
High-School Grad
148.2 sq mi
ZIP Area
196
Density / Sq Mi
$63,807
Median Household Income
$38,929
Median Earnings
$868
Median Rent
$134,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Steel warehouse with radiant heat, three overhead doors, and a full bathroom.
Where is this warehouse located?
The property is located at 3415 9th SW Mason City, IA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 4,950‑square‑foot warehouse built in 2022 on 2.5 acres; Three overhead doors: two at 15' x 15' and one at 15' x 20'; Three‑phase electrical service with 400‑amp capacity
