Cedar Falls Industrial Flex
For Sale
Contact for pricing
3015 Capital Way, Cedar Falls, IA 50613
Condo-style flex space for storage or small business suites.
Property Size990 SF
Price / SF$110.10
Days on Market1497
Property Features for 3015 Capital Way
General Information
Standard status
Active
Size
990 SF
Class
A
Property subtype
Industrial
Zoning
Industrial
Lease Type
Gross
Building Details
Year Built
2022
Tenancy
Single
Listing Agency:
Structure Real Estate
(319) 239-7805
Listed By:
Brian Wingert · License #B60468000
Source:
Crexi
Added: Jul 12, 2022
Changed: Aug 14
Last Checked: Aug 14 at 7:20AM
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 Structure Real Estate
Investment Insights
Based on property information with market context.
Located in Cedar Falls Industrial Park, this property offers build-to-suit storage or small business suites. The property is available in increments of 990 square feet. Each unit features a 12-foot wide and 14-foot tall overhead door, situated in a 22x45 space with 16-foot ceilings, along with an adjacent walk-in door. Separate electric and water meters are included. Multiple suites can be combined to accommodate larger requirements, ranging from 2000 to 7000 square feet. Units include insulated walls, a heating/cooling unit, and a finished bathroom. The property is suitable for storage, small business suites, or personal use. An annual HOA fee covers lawn care, snow removal, and exterior insurance.
Key Highlights
- Suites available in 990 sq ft increments, customizable to 2000‑7000 sq ft.
- Each unit includes a 12'x14' overhead door, walk‑in door, and 16' ceilings in a 22x45 space.
- Units include separate electric and water meters.
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
$4,441
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
4.07%
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%
$88,820
$88.8K
Cap Rate 7%
$63,443
$63.4K
Cap Rate 9%
$49,344
$49.3K
Market Conditions
NOI Build-Up for 990 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
$7.2K $7.32/SF
− Vacancy
−$414 −$0.42/SF
EGI
$6.8K $6.90/SF
− OpEx
−$2.4K −$2.42/SF
NOI
$4.4K $4.49/SF
Area
Black Hawk County, IA
Vacancy
5.71%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
35.00%
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%
$88,820
Cap Rate 7%
$63,443
Cap Rate 9%
$49,344
Alternative Uses
Best Use
Industrial
$824.4K
$721.4K – $961.9K
NOI $57,711 @ 7.0% cap · market cap 52.95%
Second Best
Flex RnD
$63.4K
$55.5K – $74.0K
NOI $4,441 @ 7.0% cap · market cap 4.07%
Theoretical Best
Mixed Use
$1.24M
$1.09M – $1.45M
NOI $86,873 @ 7.0% cap · market cap 79.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Condo-style flex space for storage or small business suites.
Where is this flex space located?
The property is located at 3015 Capital Way Cedar Falls, IA.
What is the asking price?
The asking price for this property is $109,000.
What are key features of this property?
This property features: Suites available in 990 sq ft increments, customizable to 2000‑7000 sq ft.; Each unit includes a 12'x14' overhead door, walk‑in door, and 16' ceilings in a 22x45 space.; Units include separate electric and water meters.
