Barn-Style Retail and Office
495 Miller Rd Hiawatha, IA 52233
495 Miller Rd, Hiawatha, IA, 52233
Contact for pricing
For Sale
Contact for pricing
Warm post-and-beam building with lofted ceiling and a full commercial kitchen, plus excess land for possible expansion or split.
Property Size2,870 SF
Price / SF$331.01
Days on Market84
Property Features for 495 Miller Rd
General Information
- Standard status
- Active
- Size
- 2,870 SF
- Property subtype
- Retail, Special Purpose, Land
Building Details
- Year Built
- 2008
Listing agency
Realty87
(319) 929-0600
Listed by
Mike Esker · License #IA B41939000
Source
Crexi
Added: Apr 30 Updated: Jul 22 at 8:42AM Checked: Jul 22 at 8:42AM
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 Realty87
Investment Insights
Based on property information with market context.
A distinctive barn-style commercial building featuring rough sawn timbers, exposed post-and-beam frames, a breathtaking lofted ceiling, and two cupolas. The property includes two stone fireplaces and customized windows, along with a front porch. Interior configuration offers 2,535 square feet on the main floor and 335 square feet in the loft/mezzanine.
For food service or production needs, the building includes a commercial kitchen with hood, a large island, two stainless refrigerators, and a dishwasher. Additional amenities include a large walk-in cooler with glass doors, and a backroom with a 3-compartment sink and storage shelving and counters designed with timber and a galvanized coating.
The property is for sale with ownership retiring; the sale does not include the business, name, inventory, or FFE, though the owner would consider selling those separately. The offering includes more than 2 acres, with excess land available for potential building expansion or sale to another party, subject to City approval of a land split.
For food service or production needs, the building includes a commercial kitchen with hood, a large island, two stainless refrigerators, and a dishwasher. Additional amenities include a large walk-in cooler with glass doors, and a backroom with a 3-compartment sink and storage shelving and counters designed with timber and a galvanized coating.
The property is for sale with ownership retiring; the sale does not include the business, name, inventory, or FFE, though the owner would consider selling those separately. The offering includes more than 2 acres, with excess land available for potential building expansion or sale to another party, subject to City approval of a land split.
Key Highlights
- Barn‑style post‑and‑beam building built in 2008 with rough sawn timbers and lofted ceiling
- 2,535 SF main floor plus 335 SF loft/mezzanine (2,870 total SF)
- Includes commercial kitchen with hood, large island, 2 stainless refrigerators, and dishwasher
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.0k | $14.64 |
| − Vacancy | −$3.2k | −$1.13 |
| EGI | $38.8k | $13.51 |
| − OpEx | −$11.6k | −$4.05 |
| NOI | $27.1k | $9.46 |
2,870 SF · lease $14.64/SF/yr · vacancy 7.73% · expense 30.00%
Alternative Uses
Best Use
Retail
$387.7K
$339.2K – $452.3K
NOI $27,138 @ 7.0% cap · market cap 2.86%
Second Best
Office B
$195.8K
$171.3K – $228.4K
NOI $13,705 @ 7.0% cap · market cap 1.44%
Theoretical Best
Self Storage
$483.0K
$422.6K – $563.5K
NOI $33,811 @ 7.0% cap · market cap 3.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Farmer's Daughter's Market
Specialty Food Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Warm post-and-beam building with lofted ceiling and a full commercial kitchen, plus excess land for possible expansion or split.
Where is this retail space located?
The property is located at 495 Miller Rd Hiawatha, IA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Barn‑style post‑and‑beam building built in 2008 with rough sawn timbers and lofted ceiling; 2,535 SF main floor plus 335 SF loft/mezzanine (2,870 total SF); Includes commercial kitchen with hood, large island, 2 stainless refrigerators, and dishwasher
