Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1641 Boyson Square Dr Hiawatha, IA 52233
    Back to Search
    Property profile & analytics

    1641 Boyson Square Dr Hiawatha, IA 52233

    View on Map
    • Office Spaces
    • 12,636 SF
    • 6.19 lot acres
    For Sale
    View Listing →
    Hiawatha Office Building, 6 Acres For Sale
    Contact for pricing

    Hiawatha Office Building, 6 Acres

    Spacious office building on large lot. Ideal for expansion.

    1641 Boyson Square Dr, Hiawatha, IA 52233
    View Listing
    Property ID
    US25-0648312
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CENTURY 21 Signature Real Estate - Cedar Rapids / Real Estate Agency

    Property Details for 1641 Boyson Square Dr

    Year built
    2011
    Lot size
    6.19 lot acres
    Property size
    12,636 SF
    Property type
    Office Spaces
    APN
    11-32-3-27-017-0-1009
    APU
    113232701701009

    Description

    This exceptional 3,040 square foot office space is available for lease in a vibrant mixed-use retail/office park in Hiawatha, Iowa. Located on the first floor of a two-story, Class B building constructed in 2011, this suite offers a modern and efficient layout, perfect for a variety of businesses. The property boasts a total of 12,636 square feet across three suites, with this particular suite offering the maximum contiguous space available. The building features one elevator for convenient access. Situated on a substantial 6.19-acre lot (269,636.4 square feet), the property provides ample parking and visibility. The location offers easy access to major roadways, including I-380, Center Point Road, Blairs Ferry Road, and Edgewood Road, ensuring convenient commutes for employees and clients. The property is zoned C-3, allowing for a range of commercial uses. The asking lease rate is $12.95 per square foot, NNN. This is a second-generation space, ready for immediate occupancy. The Linn County property (APN: 113232701701009) presents a unique opportunity to establish or expand your business in a thriving community. The minimum divisible space is 3,040 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $935,000
      Market price range: $422k - $1.17M
      AI Estimate
      $915,000
      Market price range: $392k - $1.15M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $800,000
      Current use
      RESTAURANT
      $1,430,000
      Change: +79% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,350,000
      Change: +69% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,295,000
      Change: +62% Conversion: Difficult
      MEDICAL BUILDING
      $1,260,000
      Change: +58% Conversion: Easy
      RETAIL STORES
      $1,015,000
      Change: +27% Conversion: Easy
      OFFICE BUILDING
      $1,000,000
      Change: +25% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $775,000
      Change: -3% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hiawatha
    County
    Linn
    State
    Iowa
    Longitude
    -91.6962
    Latitude
    42.0434
    CBSA code
    16300
    CBSA name
    CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $45,548
    $249,000
    $1,154,700
    $1,403,700
    -
    $249,000
    $1,154,700
    $1,403,700

    Comparable in this City

    • Value Estimation
      $1,040,000
      11,982 SF

      1525 Boyson Rd

      OFFICE (GENERAL) • 11,982 SF
      1525 Boyson Rd, Hiawatha, IA 52233-2309
      View Details
    • Value Estimation
      $2,420,000
      35,294 SF

      1125 Dina Ct

      OFFICE (GENERAL) • 35,294 SF
      1125 Dina Ct, Hiawatha, IA 52233-1296
      View Details
    • Value Estimation
      $565,000
      12,000 SF

      1450 Boyson Rd, Unit C

      OFFICE (GENERAL) • 12,000 SF
      1450 Boyson Rd, Hiawatha, IA 52233-2340
      View Details
    • Value Estimation
      $525,000
      19,754 SF

      405 Boyson Rd

      OFFICE (GENERAL) • 19,754 SF
      405 Boyson Rd, Hiawatha, IA 52233-1211
      View Details
    • Value Estimation
      $1,150,000
      15,470 SF

      1661 Boyson Sq Dr

      OFFICE (GENERAL) • 15,470 SF
      1661 Boyson Sq Dr, Hiawatha, IA 52233-2344
      View Details
    • Value Estimation
      $785,000
      9,990 SF

      1202 Dina Ct

      OFFICE (GENERAL) • 9,990 SF
      1202 Dina Ct, Hiawatha, IA 52233-4708
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6.19 Acres

      Hiawatha Office Building, 6 Acres

      Spacious office building on large lot. Ideal for expansion.
      1641 Boyson Square Dr, Hiawatha, IA 52233
      View Details
    • Contact for pricing
      3.06 Acres

      Hiawatha Office Building, 3 Acres

      Prime Hiawatha office space, ample land.
      1450 Boyson Rd, 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
    • $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
      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

    Similar Nearby for Lease

    • $10 SF/Yr
      7,060 SF

      Hiawatha Office Building - 7060 SF

      Prime Hiawatha office space, single tenant.
      1850 Boyson Rd, Hiawatha, IA 52233
      View Details
    • $12 SF/Yr

      Retail Power Center in Hiawatha

      Master-planned retail center with high visibility and easy access.
      1940 Blairs Ferry Rd, Hiawatha, IA 52233
      View Details
    • $6 SF/Yr

      Warehouse Space Near I-380

      Warehouse space for lease with overhead door and restroom.
      1325-1331 Stamy Rd, Hiawatha, IA 52233
      View Details
    • $7 SF/Yr

      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
      5,574 SF

      Move-in Ready Hiawatha Office Space

      Sublease office space with furniture included, convenient Hiawatha location.
      1501 Boyson Square Dr, Hiawatha, IA 52233
      View Details
    • $11 SF/Yr

      Move-In Ready Hiawatha Office Space

      Sublease office space with furniture included, convenient Hiawatha location.
      1501 Boyson Square Dr, Hiawatha, IA 52233
      View Details
    View Listing
    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.
    1641 Boyson Square 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
    1641 Boyson Square 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!