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    Property profile & analytics

    2617 1St Ave Newton, IA 50208

    • Retail space
    • 36,940 SF
    • 2.20 lot acres
    For Lease
    View listing
    $6 SF/Yr
    Value Estimation
    $1,615,000
    Last Sale
    Dec 04, 2023
    $1,800,000
    Location Intelligence
    Property ID
    US25-1689941
    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

    • Retail space

    Property Details for 2617 1St Ave

    Year built
    1979
    Lot size
    2.20 lot acres
    Property size
    36,940 SF
    Property type
    Retail space
    APN
    835277005
    APU
    835277005

    Description

    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.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,575,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,790,000
      6.5%
      $1,855,000
      7%
      $1,765,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,805,000
      Geo Method
      $1,795,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,505,000
      Retail
      $1,740,000
      Mixed-Use
      $1,835,000
      Hospitality
      $1,325,000
      Educational
      $1,410,000
      Residential Income
      $1,490,000
      Energy
      $1,460,000
      Income-Based Land
      $1,545,000
      Food Service
      $1,480,000

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Jasper
    State
    Iowa
    Longitude
    -93.0208
    Latitude
    41.6982
    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
    2023
    $40,848
    $183,750
    $976,330
    $1,160,080
    -
    $183,750
    $976,330
    $1,160,080

    Comparable in this City

    • Value Estimation by Request
      54,676 SF

      3021 1st E Ave

      RETAIL STORES (PERSONAL SERVICES) • 54,676 SF
      3021 1st E Ave, Newton, IA 50208-2706
      View Details
    • Value Estimation by Request
      5,174 SF

      209 2nd N St

      RETAIL STORES (PERSONAL SERVICES) • 5,174 SF
      209 2nd N St, Newton, IA 50208-3253
      View Details
    • Value Estimation by Request
      1,456 SF

      6602 Ginger Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,456 SF
      6602 Ginger Ave, Newton, IA 50208-9080
      View Details
    • Value Estimation
      $890,000
      40,672 SF

      3020 1st E Ave

      RETAIL STORES (PERSONAL SERVICES) • 40,672 SF
      3020 1st E Ave, Newton, IA 50208-2705
      View Details
    • Value Estimation
      $195,000
      2,072 SF

      321 1st W Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,072 SF
      321 1st W Ave, Newton, IA 50208-3725
      View Details
    • Value Estimation
      $585,000
      14,880 SF

      1701 1st W Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,880 SF
      1701 1st W Ave, Newton, IA 50208-2801
      View Details

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      Ace Hardware Plaza: Office Suites Available

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    2617 1St Ave
    Newton, IA 50208
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    Realmo Value Estimation

    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.

    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.

    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
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