Listing Agency: Kesterson Realty Inc j***@gmail.com Show Phone

Listed By: Todd Mccubbin · License #S66235000 Show Phone

Source: Exprealty

Added: May 27 Changed: Oct 25 Last Checked: Oct 26 at 4:29PM

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Investment Insights

Based on property information with market context.

This 4,000 sq. ft. commercial space in Fort Dodge, Iowa, presents an opportunity for various business operations. The building features approximately 920 sq. ft. of finished office and waiting room space, suitable for customer-facing interactions and administrative tasks. The shop area provides space for mechanical work, storage, or light industrial uses. The property's location offers convenient access for servicing customers in the Fort Dodge area. This property is suitable for an established mechanic looking to expand, an independent operator ready for their own space, or a business in need of a functional shop setup.

Key Highlights

• 4,000 sq. ft. commercial shop space
• Includes 920 sq. ft. of finished office and waiting room space
• Lease rate: $1,800 per month

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,524

Cap Rate

5.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$830,480 $830.5K

Cap Rate 7%

$593,200 $593.2K

Cap Rate 9%

$461,378 $461.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$61.9K $15.48/SF

− Vacancy

−$2.6K −$0.65/SF

EGI

$59.3K $14.83/SF

− OpEx

−$17.8K −$4.45/SF

NOI

$41.5K $10.38/SF

Area

Webster County, IA

Vacancy

4.20%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$830,480

Cap Rate 7%

$593,200

Cap Rate 9%

$461,378

Alternative Uses

Best Use

Retail

$593.2K

$519.1K – $692.1K (±1% cap)

NOI $41,524 @ 7.0% cap · market cap 5.93%

Second Best

Industrial

$269.4K

$235.7K – $314.3K (±1% cap)

NOI $18,856 @ 7.0% cap · market cap 2.69%

Theoretical Best

Office A

$720.8K

$630.7K – $841.0K (±1% cap)

NOI $50,458 @ 7.0% cap · market cap 7.21%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Spring Valley Roofing ... Roofing Company Clear Image Glass ... General Contractor Arndt's Auto & Diesel ... Auto Repair Shop Clavin Painting Painting Service

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage HVAC Service Storage Facility Dental Office

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

975

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 50501, IA

28,492

Population

13,198

Households

2.2

Avg Household Size

39

Median Age

20%

College-Educated

92%

High-School Grad

152.2 sq mi

ZIP Area

187

Density / Sq Mi

$66,130

Median Household Income

$36,934

Median Earnings

$779

Median Rent

$139,700

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Similar Off Market Nearby

• Zig's Body & Paint — 1236 S 22nd St, Fort Dodge, IA 50501
• Tim's Automotive Tinting — 701 S 25th St, Fort Dodge, IA 50501
• BNB Motorwerks — 2926 8th Ave S Unit 14, Fort Dodge, IA 50501
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• Curt Bacon Body Shop — 1710 5th Ave S, Fort Dodge, IA 50501

Frequently Asked Questions

What type of property is this?

Auto shop - 4,000 SF commercial space with office and shop areas.

Where is this auto shop located?

The property is located at 605 S 22nd St Fort Dodge, IA.

What is the asking price?

The asking price for this property is $699,900.

What are key features of this property?

This property features: 4,000 sq. ft. commercial shop space; Includes 920 sq. ft. of finished office and waiting room space; Lease rate: $1,800 per month