Building Details

Flooring type Concrete

Building materials Frame

Roof type Metal

Listing Agency: Realty87 · Coldwell Banker Real Estate c***@cbhrealty.com Show Phone

Listed By: Jim Zachar Show Phone

Added: Feb 27 Changed: Oct 17 Last Checked: Oct 19 at 8:06PM

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MLS# 2601295

Copyright © 2026 Cedar Rapids Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This mixed-use commercial property brings together three distinct buildings on a 1.15-acre site. The primary building is a highway-facing strip center with vacant suites available for occupancy and an established Subway tenant that has operated in the location for more than 20 years. The center is constructed with a frame exterior, concrete flooring, and a metal roof.

A second building provides 6,232 square feet of recently updated office space, including five exam rooms or offices, a lobby and reception area, a large restroom, and file, storage, and lab areas. The layout can support medical, dental, professional office, retail, or general office functions. A separate outbuilding adds storage or workshop capacity and includes a man door plus an overhead door with opener. The property is located at 4659 Iowa HWY 13 in Central City, Iowa, with Hwy/Com zoning and highway exposure.

Key Highlights

• 1.15‑acre mixed‑use commercial site with three buildings
• 6,232 square feet across the property
• Strip center includes a Subway tenant operating at the location for over 20 years

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$58,929

Cap Rate

7.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,178,580 $1.2M

Cap Rate 7%

$841,843 $841.8K

Cap Rate 9%

$654,767 $654.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,232 SF

Gross rent

$91.2K $14.64/SF

− Vacancy

−$7.1K −$1.13/SF

EGI

$84.2K $13.51/SF

− OpEx

−$25.3K −$4.05/SF

NOI

$58.9K $9.46/SF

Area

Linn County, IA

Vacancy

7.73%

Lease Rate

$14.64 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,178,580

Cap Rate 7%

$841,843

Cap Rate 9%

$654,767

Alternative Uses

Best Use

Retail

$841.8K

$736.6K – $982.2K (±1% cap)

NOI $58,929 @ 7.0% cap · market cap 7.02%

Second Best

Mixed Use

$788.1K

$689.6K – $919.5K (±1% cap)

NOI $55,170 @ 7.0% cap · market cap 6.58%

Theoretical Best

Self Storage

$1.05M

$917.7K – $1.22M (±1% cap)

NOI $73,419 @ 7.0% cap · market cap 8.75%

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

Property Analytics

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Current Use

Shopping centers

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 52214, IA

3,001

Population

1,339

Households

2.2

Avg Household Size

45

Median Age

22%

College-Educated

98%

High-School Grad

90.2 sq mi

ZIP Area

33

Density / Sq Mi

$83,450

Median Household Income

$49,672

Median Earnings

$825

Median Rent

$235,400

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Three-building commercial site combining a leased strip center, adaptable office space, and a separate service outbuilding.

Where is this mixed-use property located?

The property is located at 4659 Iowa HWY 13 Central City, IA.

What is the asking price?

The asking price for this property is $839,000.

What are key features of this property?

This property features: 1.15‑acre mixed‑use commercial site with three buildings; 6,232 square feet across the property; Strip center includes a Subway tenant operating at the location for over 20 years