Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1729 Hawkeye Dr Hiawatha, IA 52233
    Back to Search
    Property profile & analytics

    1729 Hawkeye Dr, Hiawatha, IA 52233

    View on Map
    • Warehouses
    • 18,600 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1729 Hawkeye Dr

    Year built
    2009
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 8,000-square-foot flex space, part of a larger 18,600-square-foot industrial building, presents a fantastic opportunity in Hiawatha, Iowa. Situated on a 4.94-acre lot at 1729 Hawkeye Drive, this single-story, 2009-built facility boasts a prime location, approximately one mile from the Tower Terr Rd/I-380 interchange, ensuring easy access to major transportation routes. The space includes one loading dock and one ground-level overhead door, complemented by four drive-in doors for convenient loading and unloading. High-efficiency radiant heat and high-bay warehouse lighting optimize functionality and energy efficiency. The 23-foot sidewalls provide ample vertical space. The advertised lease rate includes the installation of a unisex restroom by the landlord. For qualified tenants, the landlord is prepared to customize office space build-outs. The office lease rate is $14.95 per square foot, NNN. The property is zoned I-2 and features a total of two loading docks and two dock-high doors. The building is comprised of one structure and is located in Linn County, Iowa, with the APN 11283-26006-00000 and zip code 52233. This property is ideal for businesses seeking a versatile and strategically located industrial or flex space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hiawatha
    County
    Linn
    State
    Iowa
    Longitude
    -91.6759
    Latitude
    42.0581

    Comparable in this City

    • Value Estimation by Request
      11,900 SF

      1780 Robins Rd

      Distribution properties
      1780 Robins Rd, Hiawatha, IA 52233
      View Details
    • Value Estimation by Request
      17,450 SF

      1325-1331 Stamy Rd

      Flex space
      1325-1331 Stamy Rd, Hiawatha, IA 52233
      View Details
    • Value Estimation by Request
      11,992 SF

      939 Metzger Dr

      Distribution properties
      939 Metzger Dr, Hiawatha, IA 52233
      View Details
    • Value Estimation by Request
      5,760 SF

      391 Blue Reef Dr

      MINI-WAREHOUSE, STORAGE
      391 Blue Reef Dr, Hiawatha, IA 52233-1007
      View Details
    • Value Estimation
      $2,775,000
      52,228 SF

      1460 Ctr Pt Rd

      WAREHOUSE, STORAGE
      1460 Ctr Pt Rd, Hiawatha, IA 52233-1232
      View Details
    • Value Estimation
      $575,000
      9,600 SF

      111 Ctr Pt Rd

      WAREHOUSE, STORAGE
      111 Ctr Pt Rd, Hiawatha, IA 52233-1411
      View Details

    Similar Nearby for Sale

    • $999,950
      8,448 SF

      Versatile Industrial Warehouse Opportunity

      8,448 SF industrial warehouse suitable for various commercial uses.
      2700 Stonegate Ct, Hiawatha, IA 52233
      View Details
    • Contact for pricing
      8,448 SF

      Versatile Industrial Warehouse with Offices

      8,448 SF industrial warehouse suitable for various commercial uses.
      2700 Stonegate Ct, Hiawatha, IA 52233
      View Details
    • Contact for pricing
      20,295 SF

      Hiawatha Flex Office Investment

      Flex office investment property fully leased in Hiawatha, Iowa.
      929 Marthas Way, Hiawatha, IA 52233
      View Details
    • Contact for pricing
      20,295 SF

      Hiawatha Flex Industrial Office Space

      Flex industrial office space in Hiawatha, easily accessible from I-380.
      921-929 Marthas Way, Hiawatha, IA 52233
      View Details
    • Contact for pricing
      8.22 Acres

      Hiawatha Industrial Space - 8 Acres

      Large industrial lot, ideal for development. Prime Hiawatha location.
      1760 Robins Rd, Hiawatha, IA 52233
      View Details
    • Contact for pricing
      4.94 Acres

      Hiawatha Industrial Land - 4.94 Acres

      Prime Hiawatha industrial land, ready for development.
      1729 Hawkeye Dr, Hiawatha, IA 52233
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Hiawatha Flex Space Available

      Flex space in Hiawatha, near Boyson Road/I-380 interchange.
      1780 Robins Rd, Hiawatha, IA 52233
      View Details
    • Contact for pricing
      6,239 SF

      Hiawatha Flex Space with Storage

      Flex space with secured outdoor storage near I-380.
      1525 Ketelsen Dr, Hiawatha, IA 52233
      View Details
    • Contact for pricing

      Hiawatha Warehouse/Flex Space Available

      Build-to-suit warehouse/flex space in Hiawatha, Iowa.
      1470 Ketelsen Dr, Hiawatha, IA 52233
      View Details
    • Contact for pricing
      11,900 SF

      Hiawatha Contractor Bay For Lease

      Commercial contractor bay available for lease in Hiawatha, Iowa.
      400-1770 Robins Rd, Hiawatha, IA 52233
      View Details
    • Contact for pricing

      New Construction Warehouse/Flex Space

      New construction warehouse/flex building for lease with flexible space.
      2112 Robins Rd, Hiawatha, IA 52233
      View Details
    • Contact for pricing
      4,674 SF

      Hiawatha Contractor Bay For Lease

      4,674 SF commercial contractor bay available for lease.
      1770 Robins Rd, Hiawatha, IA 52233
      View Details
    Request Owner's contact information
    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.
    1729 Hawkeye Dr
    Hiawatha, IA 52233
    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
    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

    Thank You for Inquiry
    1729 Hawkeye Dr, Hiawatha, IA, 52233
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!