Mixed-Use Building with Residential
For Sale
$175,000
726 12th St, Belle Plaine, IA 52208
Two-level property combines a residential layout upstairs with adaptable commercial areas on the main floor.
Property Size1,760 SF
Price / SF$99.43
Days on Market95
Property Features for 726 12th St
General Information
Standard status
Active
Size
1,760 SF
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
RE/MAX Concepts
(515) 402-6910
Listed By:
Amanda Jackson (515) 402-6910
Source:
Centraliowahomesearch
Added: May 28
Changed: Aug 30
Last Checked: Aug 25 at 6:00AM
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 RE/MAX Concepts
Investment Insights
Based on property information with market context.
Built in 1900, this two-level mixed-use property combines a residential unit on the second floor with flexible commercial space at street level. The upper floor is arranged with three bedrooms, two bathrooms, an office, laundry and mudroom areas, and an open living space. A private primary bathroom is included, while the second bathroom is framed for a walk-in shower. Gas and water connections for a kitchen are already in place.
The main level retains original tin ceilings and includes a restroom, storage, and adaptable areas suitable for retail, office, studio, restaurant, or service-oriented operations. Major renovation work has addressed electrical, plumbing, HVAC, spray foam insulation, framing, rough-ins, and exterior grading. Inspections have passed, with finish selections remaining for the next owner. The property is located at 726 12th St in downtown Belle Plaine, Iowa.
The main level retains original tin ceilings and includes a restroom, storage, and adaptable areas suitable for retail, office, studio, restaurant, or service-oriented operations. Major renovation work has addressed electrical, plumbing, HVAC, spray foam insulation, framing, rough-ins, and exterior grading. Inspections have passed, with finish selections remaining for the next owner. The property is located at 726 12th St in downtown Belle Plaine, Iowa.
Key Highlights
- Second‑floor residential unit with 3 bedrooms, 2 bathrooms, office, laundry/mudroom, and open living area
- Main level includes flexible commercial areas, restroom, storage, and original tin ceilings
- Renovation work includes new electrical, plumbing, HVAC, spray foam insulation, framing, and rough‑ins
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
$14,896
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
8.51%
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%
$297,920
$297.9K
Cap Rate 7%
$212,800
$212.8K
Cap Rate 9%
$165,511
$165.5K
Market Conditions
NOI Build-Up for 1,760 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
$25.8K $14.64/SF
− Vacancy
−$1.9K −$1.10/SF
EGI
$23.8K $13.54/SF
− OpEx
−$8.9K −$5.08/SF
NOI
$14.9K $8.46/SF
Area
Benton County, IA
Vacancy
7.50%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
37.50%
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%
$297,920
Cap Rate 7%
$212,800
Cap Rate 9%
$165,511
Alternative Uses
Best Use
Retail
$237.7K
$208.0K – $277.4K
NOI $16,642 @ 7.0% cap · market cap 9.51%
Second Best
Mixed Use
$212.8K
$186.2K – $248.3K
NOI $14,896 @ 7.0% cap · market cap 8.51%
Theoretical Best
Specialty Retail
$254.7K
$222.9K – $297.2K
NOI $17,831 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Belle Plaine #2
Shops & Services
9,416 visits/mo
0.2 miles
Dollar General
Shops & Services
4,370 visits/mo
0.3 miles
BP
Shops & Services
2,023 visits/mo
0.1 miles
FedEx Office Print & Ship Center
Shops & Services
904 visits/mo
0.3 miles
Carquest Auto Parts
Shops & Services
682 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combines a residential layout upstairs with adaptable commercial areas on the main floor.
Where is this mixed-use property located?
The property is located at 726 12th St Belle Plaine, IA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Second‑floor residential unit with 3 bedrooms, 2 bathrooms, office, laundry/mudroom, and open living area; Main level includes flexible commercial areas, restroom, storage, and original tin ceilings; Renovation work includes new electrical, plumbing, HVAC, spray foam insulation, framing, and rough‑ins
