Mixed-Use Commercial
600 Franklin St, Center Point, IA 52213
For Sale
$219,000
Commercially zoned property combines office and retail space and is occupied under a month-to-month lease.
Property Size960 SF
Price / SF$228.13
Days on Market11
Property Features for 600 Franklin St
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Mixed-Use Components
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
Carpet
ZeroStepEntry
175 x 200
0.8
CountyRoad
Building Details
Year Built
Listing Agency:
Edge Realty Group
(319) 351-3355
Listed By:
Eliza Ghabel
(319) 430-7320
Source:
Pinnaclerealtyia
Added: Oct 30
Changed: Nov 8
Last Checked: Nov 8 at 4:35AM
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 Edge Realty Group
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Investment Insights
Based on property information with market context.
This mixed-use commercial building in Center Point contains office and retail space. Interior features include carpet and zero-step entry, and the property was built in 1980. Commercial zoning is in place.
The building is within a flood plain. Water has reached the building once since 1980, in 2008. The property is currently leased on a month-to-month basis.
The building is within a flood plain. Water has reached the building once since 1980, in 2008. The property is currently leased on a month-to-month basis.
Key Highlights
- Office and retail uses in one commercial building
- Currently leased month‑to‑month
- Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,078
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$181,560
$181.6K
Cap Rate 7%
$129,686
$129.7K
Cap Rate 9%
$100,867
$100.9K
Market Conditions
NOI Build-Up for 960 SF
Gross rent
$14.1K $14.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$13.0K $13.51/SF
− OpEx
−$3.9K −$4.05/SF
NOI
$9.1K $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%
$181,560
Cap Rate 7%
$129,686
Cap Rate 9%
$100,867
Alternative Uses
Best Use
Retail
$129.7K
$113.5K – $151.3K
NOI $9,078 @ 7.0% cap · market cap 4.15%
Second Best
Mixed Use
$121.4K
$106.2K – $141.7K
NOI $8,499 @ 7.0% cap · market cap 3.88%
Theoretical Best
Self Storage
$161.6K
$141.4K – $188.5K
NOI $11,310 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
Explore this area
Business Placement
Demographics for 52213, IA
4,408
Population
1,677
Households
2.6
Avg Household Size
40
Median Age
32%
College-Educated
95%
High-School Grad
72.9 sq mi
ZIP Area
60
Density / Sq Mi
$94,896
Median Household Income
$56,585
Median Earnings
$894
Median Rent
$254,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned property combines office and retail space and is occupied under a month-to-month lease.
Where is this mixed-use property located?
The property is located at 600 Franklin St Center Point, IA.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Office and retail uses in one commercial building; Currently leased month‑to‑month; Commercial zoning
