Building Details

Year Built 1903

Listing Agency: Cornerstone Partners QC - Real Broker, LLC i***@therealbrokerage.com Show Phone

Listed By: Jesse Hammes · License #S57235000/475216751 Show Phone

Source: Helenoliveri

Added: Sep 28 Changed: Oct 31 Last Checked: Oct 31 at 2:17PM

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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 Cornerstone Partners QC - Real Broker, LLC

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Investment Insights

Based on property information with market context.

This mixed-use property in Princeton, Iowa, contains approximately 4,000 square feet of commercial space. The building dates to 1903 and has access to Hwy 67.

Key Highlights

• Approximately 4,000 square feet of commercial space
• Built in 1903
• Access to Hwy 67

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,600

Suggested Prices Based on Cap Rates

Cap Rate 5%

$792,000 $792.0K

Cap Rate 7%

$565,714 $565.7K

Cap Rate 9%

$440,000 $440.0K

What to ask about pricing

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$72.0K $18.00/SF

− Vacancy

−$8.6K −$2.16/SF

EGI

$63.4K $15.84/SF

− OpEx

−$23.8K −$5.94/SF

NOI

$39.6K $9.90/SF

Area

Scott 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 Rate 5%

$792,000

Cap Rate 7%

$565,714

Cap Rate 9%

$440,000

Alternative Uses

Best Use

Mixed Use

$565.7K

$495.0K – $660.0K (±1% cap)

NOI $39,600 @ 7.0% cap · market cap 1,320,000.00%

Second Best

—

—

no second resolved use

Theoretical Best

Industrial

$3.25M

$2.84M – $3.79M (±1% cap)

NOI $227,512 @ 7.0% cap · market cap 7,583,733.33%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Community Building Tour Operator Princeton Boll's Community ... Community Center

Suggested Use

Top Pick Real Estate Agency Storage Facility Hair Salon Restaurant Nail Salon Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

57

Businesses Nearby

Explore this area Business Placement

Demographics for 52768, IA

1,394

Population

604

Households

2.3

Avg Household Size

46

Median Age

25%

College-Educated

96%

High-School Grad

32.2 sq mi

ZIP Area

43

Density / Sq Mi

$84,519

Median Household Income

$46,771

Median Earnings

$857

Median Rent

$275,800

Median Home Value

Frequently Asked Questions

What type of property is this?

Mixed-use property - The property is in Princeton, Iowa, with access to Hwy 67.

Where is this mixed-use property located?

The property is located at 428 N River Drive Princeton, IA.

What are key features of this property?

This property features: Approximately 4,000 square feet of commercial space; Built in 1903; Access to Hwy 67