Office Building with Turn-Key
For Sale
Contact for pricing
Pending
5865 Saratoga Rd, Asbury, IA 52002
Well-maintained office building with private offices, meeting and conference rooms, reception, restrooms, breakroom, and a garage with overhead door.
Property Size11,600 SF
Days on Market738
Property Features for 5865 Saratoga Rd
General Information
Standard status
Pending
Size
11,600 SF
Property subtype
RETAIL
Additional Details
Office Units
1
Amenities
garage space
Building Details
Buildings
1
Building Size
11,600 SF
Listing Agency:
Equity Real Estate Group
(563) 542-3519
Listed By:
Steve Davis, CCIM · License #B66573000
(563) 542-3519
Source:
Moodyscre
Added: Jul 24, 2024
Changed: Jul 29
Last Checked: Jul 30 at 2:02PM
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 Equity Real Estate Group
Investment Insights
Based on property information with market context.
This well-maintained office building offers existing office buildout and updated interior improvements, including MEP and finishes such as carpet, walls, and ceiling tiles. The current layout includes private offices, small meeting spaces, larger conference rooms, a generous reception area, restrooms, a breakroom, and open workspaces. The space is also configured in a way that could support division into multiple units, with some plumbing and metering already in place and multiple egress doors.
The property is positioned adjacent to the city park and provides strong visibility and access. It also includes a garage area with an overhead door. An adjacent 2-acre parcel is available for purchase in conjunction with the building; that parcel includes a former drive-up building with an awning and flat grade, with zoning noted for potential uses.
Additional site details include that the existing structure on the adjacent parcel has a restroom and canopy in good condition if the new owner wants to utilize the improvement.
The property is positioned adjacent to the city park and provides strong visibility and access. It also includes a garage area with an overhead door. An adjacent 2-acre parcel is available for purchase in conjunction with the building; that parcel includes a former drive-up building with an awning and flat grade, with zoning noted for potential uses.
Additional site details include that the existing structure on the adjacent parcel has a restroom and canopy in good condition if the new owner wants to utilize the improvement.
Key Highlights
- 11,600 SF commercial building in Asbury, IA with existing office buildout and well‑maintained interior finishes
- Office layout includes private offices, small meeting spaces, larger conference rooms, generous reception area, restrooms, breakroom, and open workspaces
- MEP updates included, with carpet, walls, and ceiling tiles reported to be in great shape
Financial Insights For Office B
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 | $97.4k | $8.40 |
| − Vacancy | −$23.2k | −$2.00 |
| EGI | $74.3k | $6.40 |
| − OpEx | −$18.6k | −$1.60 |
| NOI | $55.7k | $4.80 |
11,600 SF · lease $8.40/SF/yr · vacancy 23.77% · expense 25.00%
Alternative Uses
Best Use
Office B
$795.8K
$696.4K – $928.5K
NOI $55,709 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.26M
$1.98M – $2.63M
NOI $158,024 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 52002, IA
17,177
Population
7,535
Households
2.3
Avg Household Size
41
Median Age
40%
College-Educated
97%
High-School Grad
29.2 sq mi
ZIP Area
588
Density / Sq Mi
$88,060
Median Household Income
$50,161
Median Earnings
$1,051
Median Rent
$273,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained office building with private offices, meeting and conference rooms, reception, restrooms, breakroom, and a garage with overhead door.
Where is this office units located?
The property is located at 5865 Saratoga Rd Asbury, IA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 11,600 SF commercial building in Asbury, IA with existing office buildout and well‑maintained interior finishes; Office layout includes private offices, small meeting spaces, larger conference rooms, generous reception area, restrooms, breakroom, and open workspaces; MEP updates included, with carpet, walls, and ceiling tiles reported to be in great shape
