Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2617 1St Ave Newton, IA 50208

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Retail/Office Space, Multiple Suites

    Lot size:
    48,000 SF

    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

    Spaces For Lease

    at 2617 1St Ave, Newton, IA 50208 Contact us
    Unit Suite IV

    $10 /Mo

    Size
    1,400 SF
    Contact us
    Unit West Main

    $6 /Mo

    Size
    7,750 SF
    Contact us
    Unit Suite I & II

    $7 /Mo

    Size
    2,940 SF
    Contact us

    We can help!

    Listing Contact
    Dick Boggess
    Dick Boggess

    Listing Agent: Dick Boggess

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    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 Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Pharmacy

    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

    Nearby Similar for Lease

    • Contact for pricing
      61,444 SF

      Industrial Facility with Rail Access

      61,444 SF industrial facility with rail access available for lease.
      927 N 19Th Ave E, Newton, IA 50208
      View Details
    • Contact for pricing
      7,045 SF

      Newton Retail Strip Center

      Prime Retail Space Available in Newton, IA
      308 1St Ave, Newton, IA 50208
      View Details

    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.
    (641) 521-3378 Call to check price and availability
    Request Owner's contact information
    2617 1St Ave Newton, IA 50208
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2617 1St Ave
    Newton, IA 50208
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dick Boggess
    Dick Boggess
    Real Estate License ID: 832110000
    (641) 521-3378
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!