Flex Building with Service
For Sale
$435,000
4499 4th Street SW, Mason City, IA 50401
Showroom, office, service, storage, and break-room areas support a range of commercial operations.
Property Size5,751 SF
Lot Size1.27 Acres
Price / SF$75.64
Days on Market432
Property Features for 4499 4th Street SW
General Information
Standard status
Active
Size
5,751 SF
Lot size
1.27 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$10,740
Building Details
Building Size
5,751 SF
Year Built
1970
Buildings
1
Units
1
Construction
concrete block
Listing Agency:
Century 21 Preferred
(641) 420-5635
Listed By:
Roger Flieth · License #B43478
(641) 420-5635
Source:
Sweeneyrealestate
Added: Jun 7, 2025
Changed: Aug 5
Last Checked: Aug 11 at 2:39PM
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 Century 21 Preferred
Investment Insights
Based on property information with market context.
This flex property contains a 5,751-square-foot building on 1.27 acres, with a showroom, sales counter, three offices, two bathrooms, storage, and a break room. The service area includes a manager’s office, additional storage, and an air compressor connected to lines throughout the shop. A full-width metal canopy spans the front of the building, while fenced outdoor storage provides additional usable space.
The property is positioned on HWY122 at Mason City’s west edge, near Power Sports, Pritchard Motors, and the Walmart/Kohl’s shopping center. Built in 1970, the building has concrete block exterior walls with foam insulation. The septic system was replaced approximately 10–15 years ago, and the well pump was replaced approximately 15 years ago. One furnace and both central air-conditioning units were replaced five years ago.
The property is positioned on HWY122 at Mason City’s west edge, near Power Sports, Pritchard Motors, and the Walmart/Kohl’s shopping center. Built in 1970, the building has concrete block exterior walls with foam insulation. The septic system was replaced approximately 10–15 years ago, and the well pump was replaced approximately 15 years ago. One furnace and both central air-conditioning units were replaced five years ago.
Key Highlights
- 5,751 SF flex building on 1.27 acres
- Showroom with sales counter, 3 offices, 2 bathrooms, storage, and break room
- Service shop includes manager office, storage, and air compressor with air lines
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
$33,333
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
7.66%
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%
$666,660
$666.7K
Cap Rate 7%
$476,186
$476.2K
Cap Rate 9%
$370,367
$370.4K
Market Conditions
NOI Build-Up for 5,751 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
$51.8K $9.00/SF
− Vacancy
−$4.1K −$0.72/SF
EGI
$47.6K $8.28/SF
− OpEx
−$14.3K −$2.48/SF
NOI
$33.3K $5.80/SF
Area
Cerro Gordo County, IA
Vacancy
8.00%
Lease Rate
$9.00 /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%
$666,660
Cap Rate 7%
$476,186
Cap Rate 9%
$370,367
Alternative Uses
Best Use
Office B
$1.06M
$926.8K – $1.24M
NOI $74,142 @ 7.0% cap · market cap 17.04%
Second Best
Retail
$634.9K
$555.6K – $740.7K
NOI $44,444 @ 7.0% cap · market cap 10.22%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,056 @ 7.0% cap · market cap 23.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Well-served
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Showroom, office, service, storage, and break-room areas support a range of commercial operations.
Where is this flex space located?
The property is located at 4499 4th Street SW Mason City, IA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 5,751 SF flex building on 1.27 acres; Showroom with sales counter, 3 offices, 2 bathrooms, storage, and break room; Service shop includes manager office, storage, and air compressor with air lines
