Corner-Lot Bar
For Sale
Contact for pricing
626 16TH AVE, Council Bluffs, IA 51501
C-2-zoned property in an established commercial corridor with a flexible layout and existing bar-oriented improvements.
Property Size2,124 SF
Price / SF$150.19
Days on Market144
Property Features for 626 16TH AVE
General Information
Standard status
Active
Size
2,124 SF
Total Parking Spaces
10
Property subtype
Retail, Mixed Use, Business for Sale
Zoning
C-2
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Land Use
commercial
Building Details
Year Built
1900
Units
1
Tenancy
Single
Listing Agency:
Heartland Properties, Inc.
Listed By:
John H. Jerkovich · License #IA B22835000
Source:
Crexi
Added: Apr 10
Changed: Aug 31
Last Checked: Aug 31 at 1:44AM
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 Heartland Properties, Inc.
Investment Insights
Based on property information with market context.
This 2,124-square-foot commercial property at 626 16th Avenue includes an existing bar-oriented layout and equipment. The building dates to 1900 and occupies a corner lot within a C-2-zoned district. Its configuration can accommodate continued bar or restaurant use, subject to applicable permissions, or redevelopment with a new commercial building.
The property is positioned in South Council Bluffs within an established commercial corridor surrounded by neighborhoods. Interstate 29 is nearby, with connections to I-80 and I-480 providing access toward Omaha and the broader Omaha–Council Bluffs metropolitan area. The site is presented as a sale opportunity, with a potential lease arrangement available to a qualified buyer.
The property is positioned in South Council Bluffs within an established commercial corridor surrounded by neighborhoods. Interstate 29 is nearby, with connections to I-80 and I-480 providing access toward Omaha and the broader Omaha–Council Bluffs metropolitan area. The site is presented as a sale opportunity, with a potential lease arrangement available to a qualified buyer.
Key Highlights
- 2,124‑square‑foot commercial property on a corner lot
- C‑2 zoning supports bar, restaurant, and other commercial concepts, subject to applicable permissions
- Existing bar‑oriented layout and equipment included
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
$22,578
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
7.08%
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%
$451,560
$451.6K
Cap Rate 7%
$322,543
$322.5K
Cap Rate 9%
$250,867
$250.9K
Market Conditions
NOI Build-Up for 2,124 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
$32.9K $15.48/SF
− Vacancy
−$2.8K −$1.31/SF
EGI
$30.1K $14.17/SF
− OpEx
−$7.5K −$3.54/SF
NOI
$22.6K $10.63/SF
Area
Pottawattamie County, IA
Vacancy
8.44%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
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%
$451,560
Cap Rate 7%
$322,543
Cap Rate 9%
$250,867
Alternative Uses
Best Use
Specialty Retail
$322.5K
$282.2K – $376.3K
NOI $22,578 @ 7.0% cap · market cap 7.08%
Second Best
Mixed Use
$300.4K
$262.9K – $350.5K
NOI $21,028 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$405.6K
$354.9K – $473.3K
NOI $28,395 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 51501, IA
34,906
Population
15,217
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
86%
High-School Grad
23.9 sq mi
ZIP Area
1,461
Density / Sq Mi
$59,314
Median Household Income
$40,229
Median Earnings
$997
Median Rent
$140,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Hard Luck Saloon — 628 16th Ave, Council Bluffs, IA 51501
- The Gold Mine — 1601 s 3rd st, council bluffs, ia 51503
- McCormick's 1894 — 1001 S 6th St, Council Bluffs, IA 51503
- 4th Street Bar and Grill — 716 S 4th St, Council Bluffs, IA 51503
- Main Street Tavern — 519 S Main St, Council Bluffs, IA 51503
Frequently Asked Questions
What type of property is this?
Bar & Pub - C-2-zoned property in an established commercial corridor with a flexible layout and existing bar-oriented improvements.
Where is this bar & pub located?
The property is located at 626 16TH AVE Council Bluffs, IA.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: 2,124‑square‑foot commercial property on a corner lot; C‑2 zoning supports bar, restaurant, and other commercial concepts, subject to applicable permissions; Existing bar‑oriented layout and equipment included
