Two-Bay Mixed-Use
For Sale
Contact for pricing
400 N 8th St, Council Bluffs, IA 51503
Includes a vacant commercial component, full basement, off-street parking, and a fully leased duplex.
Property Size1,528 SF
Price / SF$245.42
Days on Market175
Property Features for 400 N 8th St
General Information
Standard status
Active
Size
1,528 SF
Total Parking Spaces
2
Property subtype
Multifamily, Office
Amenities
basement
Building Details
Year Built
1937
Buildings
2
Units
2
Owner Occupied
No
Listing Agency:
Heartland Properties, Inc.
(402) 659-1095
Listed By:
James Kaiser · License #IA B11858000
Source:
Crexi
Added: Mar 9
Changed: Aug 29
Last Checked: Aug 29 at 9:29PM
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 Heartland Properties, Inc.
Investment Insights
Based on property information with market context.
This mixed-use property combines a vacant commercial component with a duplex. The commercial area is configured as two bays and includes a full basement suitable for storage, along with off-street parking. The owner will consider leasing the commercial portion.
The accompanying duplex at 806 Ave. D is fully leased and also provides off-street parking. The commercial space and duplex are being offered together, creating a single property with both vacant commercial space and leased residential occupancy. The improvements date to 1937 and are located at 400 N 8th St and 806 Ave. D in Council Bluffs, Iowa.
The accompanying duplex at 806 Ave. D is fully leased and also provides off-street parking. The commercial space and duplex are being offered together, creating a single property with both vacant commercial space and leased residential occupancy. The improvements date to 1937 and are located at 400 N 8th St and 806 Ave. D in Council Bluffs, Iowa.
Key Highlights
- Two commercial bays within the vacant commercial component
- Full basement provides storage space
- Duplex at 806 Ave. D is fully leased
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
$15,127
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
4.03%
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%
$302,540
$302.5K
Cap Rate 7%
$216,100
$216.1K
Cap Rate 9%
$168,078
$168.1K
Market Conditions
NOI Build-Up for 1,528 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
$27.5K $18.00/SF
− Vacancy
−$3.3K −$2.16/SF
EGI
$24.2K $15.84/SF
− OpEx
−$9.1K −$5.94/SF
NOI
$15.1K $9.90/SF
Area
Pottawattamie County, IA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$302,540
Cap Rate 7%
$216,100
Cap Rate 9%
$168,078
Alternative Uses
Best Use
Mixed Use
$216.1K
$189.1K – $252.1K
NOI $15,127 @ 7.0% cap · market cap 4.03%
Second Best
Office B
$203.5K
$178.0K – $237.4K
NOI $14,242 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$291.8K
$255.3K – $340.5K
NOI $20,427 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,046
Businesses Nearby
Explore this area
Business Placement
Demographics for 51503, IA
37,330
Population
16,154
Households
2.3
Avg Household Size
41
Median Age
30%
College-Educated
94%
High-School Grad
121.7 sq mi
ZIP Area
307
Density / Sq Mi
$76,064
Median Household Income
$46,986
Median Earnings
$964
Median Rent
$252,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a vacant commercial component, full basement, off-street parking, and a fully leased duplex.
Where is this mixed-use property located?
The property is located at 400 N 8th St Council Bluffs, IA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two commercial bays within the vacant commercial component; Full basement provides storage space; Duplex at 806 Ave. D is fully leased
