New Flex Space with Overhead
For Sale
$159,000
616 17th St SE Unit #12, Orange City, IA 51041
Commercial, Orange City, IA
Property Size1,620 SF
Price / SF$98.15
Days on Market205
Property Features for 616 17th St SE Unit #12
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Surrounding Areas/Other Areas
Standard status
Active
Taxes and HOA fees
Tax Year
2024
Tax Description
to be created
Legal Description
to be created
Building Details
Year built
2026
Roof type
Metal
Listing Agency:
Real Broker, LLC
(515) 305-2577
Listed By:
Klayton Wielenga
(712) 441-3813
Added: Feb 20
Changed: Sep 2
Last Checked: Sep 13 at 9:06AM
MLS# 831885
Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2026, this flex space measures 30 by 54 feet and provides a 16-foot ceiling with a 14-foot overhead door. The interior is finished with white tin panels and includes an electric furnace, an AC-ready setup, and a 200-amp electrical panel. A bathroom with a toilet and shop sink is also included, supporting practical day-to-day use.
The property is located at 616 17th St SE, Unit #12, in Orange City, Iowa. Water and sewer service are provided by Orange City Municipal Utilities, while electricity is supplied by MidAmerican Energy. The property has no gas service. HOA-covered services include snow removal, lawn mowing, exterior insurance, and garbage service.
The property is located at 616 17th St SE, Unit #12, in Orange City, Iowa. Water and sewer service are provided by Orange City Municipal Utilities, while electricity is supplied by MidAmerican Energy. The property has no gas service. HOA-covered services include snow removal, lawn mowing, exterior insurance, and garbage service.
Key Highlights
- 30x54 flex space completed in 2026
- 16‑foot ceiling with a 14‑foot overhead door
- White tin interior finish with electric furnace and AC‑ready setup
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,866
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$237,320
$237.3K
Cap Rate 7%
$169,514
$169.5K
Cap Rate 9%
$131,844
$131.8K
Market Conditions
NOI Build-Up for 1,620 SF
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.
Gross rent
$14.6K $9.00/SF
− Vacancy
−$620 −$0.38/SF
EGI
$14.0K $8.62/SF
− OpEx
−$2.1K −$1.29/SF
NOI
$11.9K $7.32/SF
Area
Sioux County, IA
Vacancy
4.25%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$237,320
Cap Rate 7%
$169,514
Cap Rate 9%
$131,844
Alternative Uses
Best Use
Warehouse
$169.5K
$148.3K – $197.8K
NOI $11,866 @ 7.0% cap · market cap 7.46%
Second Best
Industrial
$139.6K
$122.2K – $162.9K
NOI $9,772 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$337.5K
$295.3K – $393.7K
NOI $23,623 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 51041, IA
7,195
Population
2,565
Households
2.8
Avg Household Size
32
Median Age
41%
College-Educated
97%
High-School Grad
70.9 sq mi
ZIP Area
101
Density / Sq Mi
$84,115
Median Household Income
$35,613
Median Earnings
$808
Median Rent
$253,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Newly built commercial unit with workshop utility, bathroom, substantial electrical capacity, and flexible interior functionality.
Where is this flex space located?
The property is located at 616 17th St SE Unit #12 Orange City, IA.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 30x54 flex space completed in 2026; 16‑foot ceiling with a 14‑foot overhead door; White tin interior finish with electric furnace and AC‑ready setup
