Versatile Contractor Condos For
For Sale
$198,000
401 Snyder Drive Building B-H, Huxley, IA 50124
Newly constructed contractor condos offering versatile workspace and storage solutions.
Property Size9,900 SF
Price / SF$120
Days on Market163
Property Features for 401 Snyder Drive Building B-H
General Information
Standard status
Active
Size
9,900 SF
Property subtype
Industrial
Building Details
Building Size
9,900 SF
Year Built
2021
Listing Agency:
Ferguson Commercial Real Estate Services
Listed By:
Nathan Petsche · License #S70663000
(515) 867-4964
Source:
Fergusoncres
Added: Mar 26
Changed: Sep 3
Last Checked: Sep 4 at 2:42AM
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 Ferguson Commercial Real Estate Services
Investment Insights
Based on property information with market context.
These newly constructed contractor condos offer a versatile workspace solution suitable for contractors, business owners, or individuals seeking storage for business or personal use. Each building comprises 6 bays, each measuring 50'x33', totaling 1,650 square feet per bay. All 6 units are available for sale and can be built to suit specific needs. The owner is also offering the remaining land, which includes plans for 7 additional buildings, for $1,000,000.
Key Highlights
- Newly constructed contractor condos offering versatile workspace.
- Units are 50'x33' (1,650 square feet) providing ample space.
- All 6 units in the building are available for sale.
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
$7,930
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
4.01%
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%
$158,600
$158.6K
Cap Rate 7%
$113,286
$113.3K
Cap Rate 9%
$88,111
$88.1K
Market Conditions
NOI Build-Up for 1,650 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
$12.1K $7.32/SF
− Vacancy
−$749 −$0.45/SF
EGI
$11.3K $6.87/SF
− OpEx
−$3.4K −$2.06/SF
NOI
$7.9K $4.81/SF
Area
Story County, IA
Vacancy
6.20%
Lease Rate
$7.32 /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%
$158,600
Cap Rate 7%
$113,286
Cap Rate 9%
$88,111
Alternative Uses
Best Use
Industrial
$113.3K
$99.1K – $132.2K
NOI $7,930 @ 7.0% cap · market cap 4.01%
Second Best
Flex RnD
$105.7K
$92.5K – $123.4K
NOI $7,402 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$385.6K
$337.4K – $449.9K
NOI $26,991 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50124, IA
4,697
Population
1,717
Households
2.7
Avg Household Size
34
Median Age
58%
College-Educated
98%
High-School Grad
20.7 sq mi
ZIP Area
227
Density / Sq Mi
$122,974
Median Household Income
$63,682
Median Earnings
$1,260
Median Rent
$299,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Newly constructed contractor condos offering versatile workspace and storage solutions.
Where is this flex space located?
The property is located at 401 Snyder Drive Building B-H Huxley, IA.
What is the asking price?
The asking price for this property is $198,000.
What are key features of this property?
This property features: Newly constructed contractor condos offering versatile workspace.; Units are 50'x33' (1,650 square feet) providing ample space.; All 6 units in the building are available for sale.
