Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2208 Broadway St Granger, IA 50109-7716

    • Office buildings
    • 1,104 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Jul 11, 2023
    $130,000
    Value Estimations
    $120,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0069511
    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.

    Current Use by Public Records

    • Christopher J. Janning, DC / Chiropractor

    Property Details for 2208 Broadway St

    Year built
    1905
    Lot size
    0.04 lot acres
    Property size
    1,104 SF
    Property type
    Office buildings
    APN
    812203016
    APU
    812203016

    Description

    This exceptional 1,104-square-foot mixed-use property at 2208 Broadway Street in Granger, Iowa, presents a rare investment opportunity. Built in 1905 and extensively renovated in 2024, this single-story building offers a blend of executive office and storefront space, perfect for an owner-user. The property sits on a 1,950-square-foot lot and is zoned for commercial use. Inside, you'll find high ceilings, exposed original brick walls, and brand-new air conditioning. The space is ready for a buyer's personal touch, with the installation of flooring and paint left to the new owner's preferences. Exterior features include a spacious backyard area, ideal for creating a patio or other outdoor amenity. The building's recent updates, combined with its charming character and prime location in Granger, IA (zip code 50109), make it an attractive proposition for a variety of businesses. A lockbox is located at the rear door, providing convenient access. This property offers a unique chance to establish a thriving business in a desirable community. The previous owner completed renovations to open an ice cream shop, but pursued other opportunities. This presents a turnkey opportunity for a new business owner.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $110,000
      ML approach
      $95,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $140,000
      Market price range: $78.5k - $261k
      AI Estimate
      $86,000
      Market price range: $26.6k - $143k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $160,000
      Current use
      AUTO REPAIR, GARAGE
      $175,000
      Change: +10% Conversion: Difficult
      WAREHOUSE, STORAGE
      $135,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Granger
    County
    Dallas
    State
    Iowa
    Longitude
    -93.8208
    Latitude
    41.7598
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, 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
    $1,618
    $3,900
    $113,910
    $117,810
    -
    $3,900
    $113,910
    $117,810

    Comparable in this City

    • Value Estimation
      $635,000
      24,300 SF

      1803 Burr Oak Blvd

      OFFICE BUILDING • 24,300 SF
      1803 Burr Oak Blvd, Granger, IA 50109-7706
      View Details
    • Value Estimation
      $930,000
      8,100 SF

      1800 Burr Oak Blvd

      OFFICE BUILDING • 8,100 SF
      1800 Burr Oak Blvd, Granger, IA 50109
      View Details
    • Value Estimation
      $220,000
      1,296 SF

      2206 Broadway St

      OFFICE BUILDING • 1,296 SF
      2206 Broadway St, Granger, IA 50109-7716
      View Details
    • Value Estimation
      $245,000
      1,876 SF

      2000 State St

      OFFICE BUILDING • 1,876 SF
      2000 State St, Granger, IA 50109-7740
      View Details
    • Value Estimation
      $180,000
      2,286 SF

      1909 Sycamore St

      OFFICE BUILDING • 2,286 SF
      1909 Sycamore St, Granger, IA 50109-9733
      View Details
    • Value Estimation by Request
      2,282 SF

      1904 State St

      OFFICE BUILDING • 2,282 SF
      1904 State St, Granger, IA 50109-7741
      View Details

    Similar Nearby for Sale

    • $160,000

      2.09 Acres Industrial Land

      2.09 acres of industrial land in Granger, Iowa.
      17579 V Ave, Granger, IA 50109
      View Details
    • $160,000
      2.09 Acres

      Prime Granger Commercial Land

      2.09 Acres, Highway 141 Frontage
      17579 V Ave, Granger, IA 50109
      View Details
    • Contact for pricing
      1.60 Acres

      Granger, IA Development Land

      Prime Commercial Development Site near Des Moines
      0 Burr Oak Blvd, Granger, IA 50109
      View Details
    • Contact for pricing

      Commercial Land for Sale

      Land available in emerging metro location with development opportunities.
      Broadway St, Granger, IA 50109
      View Details
    • Contact for pricing

      Commercial Land in Emerging Metro

      Land available in an emerging metro location with development opportunities.
      Burr Oak Blvd, Granger, IA 50109
      View Details
    • $450,000

      Commercial Land For Sale

      1.35 acres of commercial land available for sale.
      201 NE Little Beaver Dr, Grimes, IA 50109
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      20,000 SF

      Grimes Industrial Space For Lease

      20,000 SF industrial space available in Grimes, Iowa.
      1300 SE Little Beaver Dr, Grimes, IA 50109
      View Details
    • $11 SF/Yr
      5,000 SF

      Warehouse and Office Space Available

      5,000 SF warehouse with office and outdoor storage.
      4405 SE Beisser Dr, Grimes, IA 50109
      View Details
    • Contact for pricing
      7,130 SF

      Granger Commercial Land For Lease

      1.04 acre lot ideal for office, retail, or medical.
      Burr Oak Blvd, Granger, IA 50109
      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.
    2208 Broadway St
    Granger, IA 50109-7716
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.