Barn-Style Retail and Office
For Sale
$950,000
495 Miller Road, Hiawatha, IA 52233
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 Market328
Property Features for 495 Miller Road
General Information
Standard status
Active
Size
2,870 SF
Property subtype
Commercial
Lease Term
[]
Building Details
Year Built
2008
Listing Agency:
Realty87
Listed By:
Mike Esker · License #B41939000
(319) 929-0600
Source:
Cbhrealty
Added: Nov 29, 2025
Changed: Oct 21
Last Checked: Oct 21 at 12:08AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,138
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$542,760
$542.8K
Cap Rate 7%
$387,686
$387.7K
Cap Rate 9%
$301,533
$301.5K
Market Conditions
NOI Build-Up for 2,870 SF
Gross rent
$42.0K $14.64/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$38.8K $13.51/SF
− OpEx
−$11.6K −$4.05/SF
NOI
$27.1K $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%
$542,760
Cap Rate 7%
$387,686
Cap Rate 9%
$301,533
Alternative Uses
Best Use
Retail
$387.7K
$339.2K – $452.3K
NOI $27,138 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
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 authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
Explore this area
Business Placement
Demographics for 52233, IA
7,091
Population
3,123
Households
2.3
Avg Household Size
39
Median Age
31%
College-Educated
97%
High-School Grad
3.9 sq mi
ZIP Area
1,818
Density / Sq Mi
$66,497
Median Household Income
$44,111
Median Earnings
$846
Median Rent
$200,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
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 Road 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
