Remodeled Office
For Sale
$50,000
717 12th Street, Belle Plaine, IA 52208
Commercial, Belle Plaine, IA
Property Size838 SF
Lot Size0.05 Acres
Price / SF$59.67
Days on Market95
Property Features for 717 12th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Comm.
Directions
on 12th Street Belle Plaine
Subdivision
OT-W (West of I-380)
Standard status
Active
APN
03047500
Size
838 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
Hutton Add W 1/2 Lot 4 Blk 6 and/or as per abstract
Tax Annual Amount
682
Legal Description
Hutton Add W 1/2 Lot 4 Blk 6 and/or as per abstract
Amenities
front lobby space
two spacious office rooms
handicap accessible bathroom
kitchenette area
separate mechanical room
Building Details
Year built
1890
Flooring type
Carpet
Roof type
Shingle
Listing Agency:
IOWA REALTY · Berkshire Hathaway HomeServices
(319) 393-4900
Listed By:
Melissa Lennie
(319) 310-2843
Added: Jun 8
Changed: Aug 19
Last Checked: Sep 10 at 1:06PM
MLS# 2604064
Copyright © 2026 Cedar Rapids Area Association 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.
This remodeled office unit at 717 12th Street provides 838 square feet of commercial space within a 0.05-acre parcel. The interior includes a welcoming lobby, two private office rooms, a kitchenette, a handicap-accessible bathroom, and a separate mechanical room. Carpet flooring is installed throughout the space.
The property was built in 1890 and has a shingle roof. The furnace, air conditioning system, and water heater are each approximately 5 years old. Comm. zoning supports the property's commercial classification, while the existing layout accommodates a small office-oriented business.
The property was built in 1890 and has a shingle roof. The furnace, air conditioning system, and water heater are each approximately 5 years old. Comm. zoning supports the property's commercial classification, while the existing layout accommodates a small office-oriented business.
Key Highlights
- 838 square feet of commercial space on a 0.05‑acre parcel
- Interior remodel includes lobby, two office rooms, kitchenette, and handicap‑accessible bathroom
- Furnace, AC, and water heater are all around 5 years old
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
$4,024
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
8.05%
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%
$80,480
$80.5K
Cap Rate 7%
$57,486
$57.5K
Cap Rate 9%
$44,711
$44.7K
Market Conditions
NOI Build-Up for 838 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
$7.0K $8.40/SF
− Vacancy
−$1.7K −$2.00/SF
EGI
$5.4K $6.40/SF
− OpEx
−$1.3K −$1.60/SF
NOI
$4.0K $4.80/SF
Area
Benton County, IA
Vacancy
23.77%
Lease Rate
$8.40 /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%
$80,480
Cap Rate 7%
$57,486
Cap Rate 9%
$44,711
Alternative Uses
Best Use
Retail
$113.2K
$99.1K – $132.1K
NOI $7,924 @ 7.0% cap · market cap 15.85%
Second Best
Office B
$57.5K
$50.3K – $67.1K
NOI $4,024 @ 7.0% cap · market cap 8.05%
Theoretical Best
Specialty Retail
$121.3K
$106.1K – $141.5K
NOI $8,490 @ 7.0% cap · market cap 16.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Explore this area
Business Placement
Demographics for 52208, IA
2,951
Population
1,451
Households
2
Avg Household Size
45
Median Age
17%
College-Educated
95%
High-School Grad
60.7 sq mi
ZIP Area
49
Density / Sq Mi
$71,336
Median Household Income
$45,202
Median Earnings
$773
Median Rent
$119,700
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
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Frequently Asked Questions
What type of property is this?
Office units - Compact commercial space with a lobby, two offices, kitchenette, and accessible restroom.
Where is this office units located?
The property is located at 717 12th Street Belle Plaine, IA.
What is the asking price?
The asking price for this property is $50,000.
What are key features of this property?
This property features: 838 square feet of commercial space on a 0.05‑acre parcel; Interior remodel includes lobby, two office rooms, kitchenette, and handicap‑accessible bathroom; Furnace, AC, and water heater are all around 5 years old
