Main Street Retail/Restaurant
For Sale
$750,000
421 Main St, Cedar Falls, IA 50613
Retail or restaurant space with high foot traffic and visibility.
Property Size3,772 SF
Lot Size0.13 Acres
Price / SF$198.83
Days on Market195
Property Features for 421 Main St
General Information
Standard status
Active
Size
3,772 SF
Lot size
0.13 Acres
Taxes and HOA fees
Annual Taxes
$26,082
Listing Agency:
Miehe Commercial Real Estate
(319) 269-6222
Listed By:
Matt Miehe, CCIM · License #B58183000
(319) 269-6222
Source:
Exprealty
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 8 at 6:01AM
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 Miehe Commercial Real Estate
Investment Insights
Based on property information with market context.
This property, suitable for retail or restaurant use, offers 3,772 square feet of space. The building has been maintained and updated. Previously used as a bar and restaurant, the property retains its character and presents various possibilities for alternative uses. The location benefits from high foot traffic and visibility.
Key Highlights
- Prime retail/restaurant location with great foot traffic and visibility.
- 3,772 sq. ft. space.
- Nicely maintained and updated.
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
$40,097
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
5.35%
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%
$801,940
$801.9K
Cap Rate 7%
$572,814
$572.8K
Cap Rate 9%
$445,522
$445.5K
Market Conditions
NOI Build-Up for 3,772 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
$58.4K $15.48/SF
− Vacancy
−$4.9K −$1.31/SF
EGI
$53.5K $14.17/SF
− OpEx
−$13.4K −$3.54/SF
NOI
$40.1K $10.63/SF
Area
Black Hawk County, IA
Vacancy
8.44%
Lease Rate
$15.48 /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%
$801,940
Cap Rate 7%
$572,814
Cap Rate 9%
$445,522
Alternative Uses
Best Use
Specialty Retail
$572.8K
$501.2K – $668.3K
NOI $40,097 @ 7.0% cap · market cap 5.35%
Second Best
Retail
$534.6K
$467.8K – $623.7K
NOI $37,424 @ 7.0% cap · market cap 4.99%
Theoretical Best
Mixed Use
$4.73M
$4.14M – $5.52M
NOI $330,993 @ 7.0% cap · market cap 44.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
27k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 33%
Hotels & Casinos 12%
Casey's General Store
Shops & Services
12,039 visits/mo
0.1 miles
Scooter's Coffee
Dining
7,465 visits/mo
0.5 miles
Hampton Inn & Suites
Hotels & Casinos
3,290 visits/mo
0.4 miles
U.S. Bank
Shops & Services
2,796 visits/mo
0.3 miles
Maid-Rite
Dining
1,292 visits/mo
0.3 miles
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Concept Kitchen — 203 State St, Cedar Falls, IA 50613
Frequently Asked Questions
What type of property is this?
Restaurant - Retail or restaurant space with high foot traffic and visibility.
Where is this restaurant located?
The property is located at 421 Main St Cedar Falls, IA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Prime retail/restaurant location with great foot traffic and visibility.; 3,772 sq. ft. space.; Nicely maintained and updated.
