Listing Agency: Fischels Residential Group c***@crfre.com Show Phone

Listed By: William Foss · License #S68583000 Show Phone

Source: Exprealty

Added: Oct 11 Changed: Oct 13 Last Checked: Oct 15 at 3:48AM

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Investment Insights

Based on property information with market context.

This storefront commercial suite offers 853 square feet with two private offices and a private bathroom. Its configuration supports office or small retail use, combining customer-facing storefront space with enclosed work areas.

The property is located on Main Street in La Porte City, Iowa.

Key Highlights

• 853‑square‑foot storefront suite
• Two private offices
• Private bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,463

Suggested Prices Based on Cap Rates

Cap Rate 5%

$169,260 $169.3K

Cap Rate 7%

$120,900 $120.9K

Cap Rate 9%

$94,033 $94.0K

What to ask about pricing

Market Conditions

NOI Build-Up for 853 SF

Gross rent

$13.2K $15.48/SF

− Vacancy

−$1.1K −$1.31/SF

EGI

$12.1K $14.17/SF

− OpEx

−$3.6K −$4.25/SF

NOI

$8.5K $9.92/SF

Area

Black Hawk County, IA

Vacancy

8.44%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$169,260

Cap Rate 7%

$120,900

Cap Rate 9%

$94,033

Alternative Uses

Best Use

Retail

$120.9K

$105.8K – $141.1K (±1% cap)

NOI $8,463 @ 7.0% cap · market cap 1,209.00%

Second Best

—

—

no second resolved use

Theoretical Best

Mixed Use

$1.07M

$935.6K – $1.25M (±1% cap)

NOI $74,851 @ 7.0% cap · market cap 10,693.00%

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

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick HVAC Service Grocery & Convenience Store Hair Salon Garden Center (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

195

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 50651, IA

3,579

Population

1,650

Households

2.2

Avg Household Size

42

Median Age

19%

College-Educated

96%

High-School Grad

114.5 sq mi

ZIP Area

31

Density / Sq Mi

$79,647

Median Household Income

$50,306

Median Earnings

$838

Median Rent

$172,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar Off Market Nearby

• Petals of Hope by Patty — 316 Main St, La Porte City, IA 50651

Frequently Asked Questions

What type of property is this?

Storefront property - A flexible commercial suite includes two enclosed offices and a dedicated bathroom.

Where is this storefront property located?

The property is located at 502-502 Main St La Porte City, IA.

What are key features of this property?

This property features: 853‑square‑foot storefront suite; Two private offices; Private bathroom