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    2617 1St Ave Newton, IA 50208

    Sponsored
    For Lease
    $6 SF/Yr

    Prime Retail/Office Space, Multiple Suites

    Lot size:
    48,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Ace Hardware Plaza offers a unique investment opportunity in a high-traffic location. This two-building complex, totaling 48,000 square feet, features a mix of executive, creative, and traditional office spaces, perfect for a variety of businesses. Built in 1979 and extensively renovated in 2020, the property boasts a Class B rating and offers multiple tenancy options. Individual suites range from a minimum of 1,400 square feet to a maximum contiguous space of 2,940 square feet, with a total of six suites available. Currently, 4,340 square feet are vacant, presenting a significant opportunity for expansion or new tenancy. The property sits on a substantial 95,396 square foot lot, zoned C-SC Shopping, ensuring ample parking and high visibility. Tenants currently include LaCabana restaurant, US Cellular, Tina's Nails, and True Value, all benefiting from the plaza's strategic location between Hy-Vee and Walmart. The single-story buildings feature 10-foot ceilings, providing a spacious and functional work environment. The property's prominent pylon signage ensures excellent visibility for tenants. This is an exceptional opportunity to secure office space in a thriving retail center with strong existing tenants and high foot traffic.

    Property Features for 2617 1St Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    48,000 SF
    Class
    B
    Total Rate
    24000

    Building Details

    Year Built/Renovated
    1979/2020
    Buildings
    2
    Stories
    1

    Unit(s) available at that property

    Space
    Suite IV
    Size
    1,400 SF
    Rate per SF
    $10
    Space
    West Main
    Size
    7,750 SF
    Rate per SF
    $6
    Space
    Suite I & II
    Size
    2,940 SF
    Rate per SF
    $7

    HighLights

    • 48,000 SF multi‑tenant office building with 4,340 SF of vacant space available.
    • Minimum 1,400 SF divisible, maximum contiguous 2,940 SF.
    • Six suites total in two, one‑story buildings on a 95,396 SF lot.
    • Class B property built in 1979, renovated in 2020, featuring 10' ceilings.
    • Located in a high‑traffic area with excellent parking and pylon signage, near Hy‑Vee and Walmart.
    • C‑SC Shopping zoning; APN 0835277004 & 0835277005.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Jasper
    State
    Iowa
    Longitude
    -93.020948142037
    Latitude
    41.698980109233

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    FAQs

    What type of property is this?
    Office space - Prime Retail/Office Space, Multiple Suites
    Where is this office space located?
    The property is located at 2617 1St Ave Newton, IA.
    What is the lease rate?
    The lease rate is $6-$10 SF/Yr.
    What are key features of this property?
    This property features: 48,000 SF multi-tenant office building with 4,340 SF of vacant space available.; Minimum 1,400 SF divisible, maximum contiguous 2,940 SF.; Six suites total in two, one-story buildings on a 95,396 SF lot.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2617 1St Ave Newton, IA 50208
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