Mixed-Use Property with
For Sale
$275,000
807 12th Street, Belle Plaine, IA 52208
Commercial, Belle Plaine, IA
Property Size3,260 SF
Price / SF$84.36
Days on Market158
Property Features for 807 12th Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Comm
Rooms
Basement
Directions
On 12th St, Belle Plaine
Subdivision
OT-W (West of I-380)
Standard status
Active
APN
03035050
Size
3,260 SF
Taxes and HOA fees
Tax Description
As per abstract
Tax Annual Amount
472
Legal Description
As per abstract
Amenities
climate control storage
Building Details
Year built
1900
Roof type
Membrane
Listing Agency:
Realty87 · Coldwell Banker Real Estate
(319) 378-8760
Listed By:
Tami Timm
(319) 367-8760
Added: Apr 23
Changed: Aug 19
Last Checked: Sep 27 at 11:06AM
MLS# 2602867
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 3,260-square-foot mixed-use property combines climate-controlled storage, commercial space, and a residential buildout. The lower level contains 9 storage units added in 2024. Building improvements include updated plumbing and electrical systems along with spray-foam insulation. The main level offers space suited to retail-oriented use, while the upper level is framed for completion as a 1-bedroom apartment.
Located in downtown Belle Plaine, the property carries Comm zoning. Originally built in 1900, it has a membrane roof and a basement. The multi-level configuration provides distinct areas for storage, commercial activity, and future residential completion within one building.
Located in downtown Belle Plaine, the property carries Comm zoning. Originally built in 1900, it has a membrane roof and a basement. The multi-level configuration provides distinct areas for storage, commercial activity, and future residential completion within one building.
Key Highlights
- 3,260 SF mixed‑use building in downtown Belle Plaine
- 9 climate‑controlled storage units added in 2024
- Main level configured for retail‑oriented commercial use
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
$20,756
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
7.55%
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%
$415,120
$415.1K
Cap Rate 7%
$296,514
$296.5K
Cap Rate 9%
$230,622
$230.6K
Market Conditions
NOI Build-Up for 3,260 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
$25.4K $7.80/SF
− Vacancy
−$1.0K −$0.31/SF
EGI
$24.4K $7.49/SF
− OpEx
−$3.7K −$1.12/SF
NOI
$20.8K $6.37/SF
Area
Benton County, IA
Vacancy
3.97%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$415,120
Cap Rate 7%
$296,514
Cap Rate 9%
$230,622
Alternative Uses
Best Use
Retail
$440.4K
$385.3K – $513.8K
NOI $30,826 @ 7.0% cap · market cap 11.21%
Second Best
Self Storage
$395.9K
$346.4K – $461.9K
NOI $27,713 @ 7.0% cap · market cap 10.08%
Theoretical Best
Specialty Retail
$471.8K
$412.9K – $550.5K
NOI $33,028 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The multi-level layout includes climate-controlled storage, a retail-oriented main level, and an apartment buildout.
Where is this mixed-use property located?
The property is located at 807 12th Street Belle Plaine, IA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 3,260 SF mixed‑use building in downtown Belle Plaine; 9 climate‑controlled storage units added in 2024; Main level configured for retail‑oriented commercial use
