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    Versatile Event & Commercial Space Title is generated by Realmo AI

    4709 220th Trail, Amana, IA 52203

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    For Sale
    $1,400,000

    COMMERCIAL - Amana, IA

    Property size:
    11,645 SF
    Lot size:
    1.63 Acres
    Price / SF:
    $120/SF
    Added:
    Feb 15, 2026
    Days on Market:
    89
    Last Refresh:
    May 15 at 9:06 am

    Property Features for 4709 220th Trail

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COM
    Standard status
    Active
    APN
    104001016
    Size
    11,645 SF
    Lot size
    1.63 Acres

    Taxes and HOA fees

    Tax Description
    As Per Abstract
    Tax Annual Amount
    10129

    Building Details

    Year built
    1984
    Flooring type
    Concrete, Carpet
    Building materials
    Frame

    We can help!

    Listing Contact
    Heather Aswegan

    Listing agent Heather Aswegan

    Listing office Keller Williams Legacy Group 211 Main Street, Cedar Rapids, IA

    Listing date Feb 15, 2026

    MLS# 2600790

    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.

    HighLights

    • Large 11,643 SF event and commercial space in historic Main Amana.
    • Prime location near downtown Amana's attractions and 15‑20 minutes from Iowa City and Cedar Rapids.
    • Currently operating as an event center with a layout featuring two expansive levels with zero‑entry access.
    • Fully equipped commercial kitchen supports catered events and hospitality operations.
    • Established salon within the building provides additional service capacity and lease income potential.
    • Turnkey opportunity for continued event operations or redevelopment for hospitality, entertainment, or mixed‑use commercial ventures.

    Overview

    Located in Main Amana, this 11,643 square foot commercial property offers an opportunity in one of Iowa's established destination communities. Situated 15-20 minutes from Iowa City and Cedar Rapids, the property benefits from tourism traffic and convenient regional access. Currently operating as an event center, the space accommodates private celebrations, corporate gatherings, retreats, community functions, and a variety of group events. The layout features two expansive levels, both with zero-entry access. A fully equipped commercial kitchen supports catered events and hospitality operations. An established salon within the building provides additional service capacity and lease income potential. The property is within walking distance of downtown Amana's restaurants, shops, and attractions. With its size, amenities, and location, this property presents an opportunity for continued event operations or creative reimagining for hospitality, entertainment, or mixed-use commercial ventures. The property is 1.63 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Price Creek Event ... Hotel & Motel Hailey @ Amanda’s Salon Hair Salon Star Entertainment Nightclub Pine Creek Event ... Hotel & Motel

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Amana
    County
    Iowa
    State
    Iowa
    Longitude
    -91.868519
    Latitude
    41.799616

    Nearby Similar for Sale

    • $575,000

      Mixed-Use Property in Prime Location

      Unique mixed-use property with commercial and residential potential.
      4506 220th Trl, Amana, IA 52203
      View Details
    • $575,000
      5,959 SF

      Mixed-Use Property in Prime Location

      Unique mixed-use property with commercial and residential potential.
      4506 220th Trl, Amana, IA 52203
      View Details

    FAQs

    What type of property is this?
    Wedding venue - 11,643 SF commercial property in historic Amana, Iowa.
    Where is this wedding venue located?
    The property is located at 4709 220th Trail Amana, IA.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Large 11,643 SF event and commercial space in historic Main Amana.; Prime location near downtown Amana's attractions and 15‑20 minutes from Iowa City and Cedar Rapids.; Currently operating as an event center with a layout featuring two expansive levels with zero‑entry access.
    (319) 423-4139
    We can help!
    Listing Contact
    Heather Aswegan
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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