Flexible Medical Office
For Sale
$300,000
630 S Main Street, Monticello, IA 52310
Spacious building with reception area, multiple rooms with water access, private office, and recent HVAC upgrades.
Property Size2,496 SF
Price / SF$120.19
Days on Market167
Property Features for 630 S Main Street
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Commercial
Zoning
C
Taxes and HOA fees
Annual Taxes
$5,754
Building Details
Building Size
2,496 SF
Year Built
1986
Listing Agency:
McDonough Real Estate
(319) 480-0303
Listed By:
Michael McDonough · License #B19700000
(319) 480-0303
Source:
Sweeneyrealestate
Added: Mar 12
Changed: Aug 23
Last Checked: Aug 24 at 1:08PM
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 McDonough Real Estate
Investment Insights
Based on property information with market context.
This spacious commercial building is currently set up for a dental practice but offers a flexible layout suitable for office or retail use. The interior includes an impressive foyer and welcoming reception area, multiple rooms with water access, a private office, and a break room. There are three bathrooms, including one with a shower.
Recent upgrades include a new furnace and central air, supporting comfortable year-round operations. The basement adds extensive storage along with an additional room that could be used as an office or workspace. The property also provides plentiful parking for staff and guests, supporting convenient access for clients and visitors.
Recent upgrades include a new furnace and central air, supporting comfortable year-round operations. The basement adds extensive storage along with an additional room that could be used as an office or workspace. The property also provides plentiful parking for staff and guests, supporting convenient access for clients and visitors.
Key Highlights
- Over 2,300 SF flexible commercial building currently used as a dental practice
- Foyer and reception area designed to welcome clients and visitors
- Multiple rooms include water access, plus a private office and break room
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
$18,600
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
6.20%
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%
$372,000
$372.0K
Cap Rate 7%
$265,714
$265.7K
Cap Rate 9%
$206,667
$206.7K
Market Conditions
NOI Build-Up for 2,496 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
$34.4K $13.80/SF
− Vacancy
−$3.4K −$1.38/SF
EGI
$31.0K $12.42/SF
− OpEx
−$12.4K −$4.97/SF
NOI
$18.6K $7.45/SF
Area
Jones County, IA
Vacancy
10.00%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
40.00%
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%
$372,000
Cap Rate 7%
$265,714
Cap Rate 9%
$206,667
Alternative Uses
Best Use
Healthcare Medical
$265.7K
$232.5K – $310.0K
NOI $18,600 @ 7.0% cap · market cap 6.20%
Second Best
Office B
$171.2K
$149.8K – $199.8K
NOI $11,987 @ 7.0% cap · market cap 4.00%
Theoretical Best
Specialty Retail
$361.3K
$316.1K – $421.5K
NOI $25,288 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 52310, IA
6,417
Population
2,937
Households
2.2
Avg Household Size
45
Median Age
21%
College-Educated
96%
High-School Grad
145.4 sq mi
ZIP Area
44
Density / Sq Mi
$76,946
Median Household Income
$49,063
Median Earnings
$664
Median Rent
$192,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Spacious building with reception area, multiple rooms with water access, private office, and recent HVAC upgrades.
Where is this medical office space located?
The property is located at 630 S Main Street Monticello, IA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Over 2,300 SF flexible commercial building currently used as a dental practice; Foyer and reception area designed to welcome clients and visitors; Multiple rooms include water access, plus a private office and break room
