Property profile

1715 1st W Ave Newton, IA 50208

OFF-MARKET
Warehouses
Property ID
US25-2193876
6,000 SF 3.99 ac lot Built 1975
Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 9,216 square foot office building, situated on a 0.45-acre lot at 1715 1st Avenue E in Newton, Iowa, presents a compelling investment or lease opportunity. Currently, a portion of the building (4,000 square feet) is occupied by Kinetic Edge Physical Therapy, a tenant experiencing significant growth and planning a relocation. This presents a unique chance for a new tenant to either lease the available space directly from the landlord or potentially assume the existing lease. The building boasts a highly visible location, ensuring excellent exposure for any business. Prospective tenants should be prepared to demonstrate a strong lease and credit history. The building itself is a newer construction, offering high-quality space and easy accessibility. While the occupancy date may be subject to a slight delay to accommodate the current tenant's move, this presents a chance to secure a desirable space in a thriving location. The property offers significant potential for a business seeking a prominent presence in Newton. Serious inquiries are encouraged. The asking price for the entire property is $12 million.

Property profile

Verified
Property type Warehouses
Use group MINI-WAREHOUSE, STORAGE
Year built 1975
Construction FRAME
Total area 6,000 SF
Lot 3.99 ac (173,804 SF)
APN 833151002
UPID US25-2193876

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1715 1st W Ave Newton, IA 50208
Newton metro Census 40300 DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$753k
Blend (final) Blend
$285k

Owner & transaction history

since 2021
2 recorded transactions
2021
Price N/A
2020
Price N/A

Zoning & alternative use

Top alternative use upside
Commercial (general) $640,000 +24.6%
Office building $610,000 +18.3%
Medical building $585,000 +14.3%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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