Corner Mixed-Use Commercial
731 12th St Belle Plaine, IA 52208
731 12th St, Belle Plaine, IA, 52208
$120,000
For Sale
$120,000
Main level recently remodeled and currently leased to a pharmacy tenant through August 2027.
Property Size1,984 SF
Price / SF$60.48
Days on Market330
Property Features for 731 12th St
General Information
- Standard status
- Active
- Size
- 1,984 SF
Listing agency
SKOGMAN REALTY COMMERCIAL
(319) 730-5732
Listed by
Tiffany Earl Williams-WSG CRE
(319) 730-5732
Source
Exprealty
Added: Aug 27, 2025 Updated: Jul 21 at 1:11PM Checked: Jul 21 at 1:11PM
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 SKOGMAN REALTY COMMERCIAL
Investment Insights
Based on property information with market context.
Located in the heart of downtown Belle Plaine, this corner commercial building offers a flexible layout with a recently remodeled main level and a non-finished basement. The main level was formerly a pharmacy and is in excellent condition. A current lease is in place with a pharmacy tenant through August 2027, providing steady income for an owner-occupant or investor.
The property sits on a high-visibility corner of 8th Ave & 12th St within the Central Business District. The upper level provides additional space that may be suitable for residential conversion or live/work use, depending on approvals. The non-finished basement also offers practical storage capacity.
The property sits on a high-visibility corner of 8th Ave & 12th St within the Central Business District. The upper level provides additional space that may be suitable for residential conversion or live/work use, depending on approvals. The non-finished basement also offers practical storage capacity.
Key Highlights
- Main level recently remodeled and currently leased to a pharmacy tenant through August 2027
- High‑visibility corner location on 8th Ave & 12th St in downtown Belle Plaine, IA (Central Business District)
- Flexible main‑level footprint with a former pharmacy layout suited for retail, office, service, or restaurant use
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.7k | $8.40 |
| − Vacancy | −$4.0k | −$2.00 |
| EGI | $12.7k | $6.40 |
| − OpEx | −$3.2k | −$1.60 |
| NOI | $9.5k | $4.80 |
1,984 SF · lease $8.40/SF/yr · vacancy 23.77% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$287.1K
$251.3K – $335.0K
NOI $20,100 @ 7.0% cap · market cap 16.75%
Second Best
Retail
$268.0K
$234.5K – $312.7K
NOI $18,760 @ 7.0% cap · market cap 15.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Drug stores
Similar For Sale Nearby
Similar Off Market Nearby
- Hartig Drug — 810 Main St, Belle Plaine, IA 52208
- The Regal Fritillary LLC — 806 Main St, Belle Plaine, IA 52208
- Tawnya Gardener — 810 Main St, Belle Plaine, IA 522081709
- Carrie Sayre — 731 Main St, Belle Plaine, IA 522081752
- Cornerstone Apothecary — 731 Main St, Belle Plaine, IA 52208
FAQs
What type of property is this?
Drug store - Main level recently remodeled and currently leased to a pharmacy tenant through August 2027.
Where is this drug store located?
The property is located at 731 12th St Belle Plaine, IA.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Main level recently remodeled and currently leased to a pharmacy tenant through August 2027; High‑visibility corner location on 8th Ave & 12th St in downtown Belle Plaine, IA (Central Business District); Flexible main‑level footprint with a former pharmacy layout suited for retail, office, service, or restaurant use
