Leased Mixed-Use
For Sale
$2,200,000
85 Sugar Creek Ln, North Liberty, IA 52317
Turnkey mixed-use building with four street-level retail units and nine apartments, all fully leased.
Property Size15,790 SF
Price / SF$139.33
Days on Market141
Property Features for 85 Sugar Creek Ln
General Information
Standard status
Active
Size
15,790 SF
Property subtype
Commercial
Zoning
C - Commercial Mixed
Occupancy
100%
Additional Details
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$38,670
Amenities
ConcreteSlabGrade,Carpet,CeramicTile,Vinyl,Other
ZeroStepEntry
180 x 165
0.68
CountyRoad
Building Details
Year Built
1994
Tenancy
Multi
Listing Agency:
KALONA REALTY, INC.
(319) 393-0900
Listed By:
Tatiana McClinton
(319) 270-6253
Source:
Pinnaclerealtyia
Added: Apr 18
Changed: Sep 4
Last Checked: Sep 5 at 4:14AM
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 KALONA REALTY, INC.
Investment Insights
Based on property information with market context.
This fully leased mixed-use investment property includes four street-level commercial units and nine residential apartments. The residential component consists of eight second-floor units plus one ADA-compliant first-floor unit.
The asset is presented as fully occupied, with the commercial spaces and apartments described as leased to active tenants. The offering notes strong visibility and easy access within a high-traffic area.
As configured, the building provides a diversified income mix between street-level retail and upstairs residential living units, with a total of 13 units on the property.
The asset is presented as fully occupied, with the commercial spaces and apartments described as leased to active tenants. The offering notes strong visibility and easy access within a high-traffic area.
As configured, the building provides a diversified income mix between street-level retail and upstairs residential living units, with a total of 13 units on the property.
Key Highlights
- 13‑unit mixed‑use building built in 1994 with 100% occupancy
- 4 street‑level commercial units plus 9 residential apartments (8 second‑floor units, 1 ADA‑compliant first‑floor unit)
- Mixed‑use income with fully leased commercial and residential tenants
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
$149,613
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
6.80%
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%
$2,992,260
$3.0M
Cap Rate 7%
$2,137,329
$2.1M
Cap Rate 9%
$1,662,367
$1.7M
Market Conditions
NOI Build-Up for 15,790 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
$227.4K $14.40/SF
− Vacancy
−$13.6K −$0.86/SF
EGI
$213.7K $13.54/SF
− OpEx
−$64.1K −$4.06/SF
NOI
$149.6K $9.48/SF
Area
Johnson County, IA
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,992,260
Cap Rate 7%
$2,137,329
Cap Rate 9%
$1,662,367
Alternative Uses
Best Use
Retail
$2.14M
$1.87M – $2.49M
NOI $149,613 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $135,061 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $240,109 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
546
Businesses Nearby
Explore this area
Business Placement
Demographics for 52317, IA
22,096
Population
9,125
Households
2.4
Avg Household Size
32
Median Age
54%
College-Educated
99%
High-School Grad
34.4 sq mi
ZIP Area
642
Density / Sq Mi
$108,156
Median Household Income
$57,950
Median Earnings
$1,221
Median Rent
$314,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Turnkey mixed-use building with four street-level retail units and nine apartments, all fully leased.
Where is this mixed-use property located?
The property is located at 85 Sugar Creek Ln North Liberty, IA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 13‑unit mixed‑use building built in 1994 with 100% occupancy; 4 street‑level commercial units plus 9 residential apartments (8 second‑floor units, 1 ADA‑compliant first‑floor unit); Mixed‑use income with fully leased commercial and residential tenants
