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    3021 1St Ave E Newton, IA 50208

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    3021 1St Ave E Newton, IA 50208

    View on Map
    • Retail space
    • 54,676 SF
    • 6.58 lot acres
    For Lease
    $1,330,000
    View Listing →
    Commercial Land For Lease For Lease
    $1,330,000

    Commercial Land For Lease

    Approximately 0.30 acres available for lease in Newton, Iowa.

    3021 1st Ave E, Newton, IA 50208
    View Listing
    Property ID
    US25-1928133
    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
    $1,330,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 3021 1St Ave E

    Year built
    1984
    Lot size
    6.58 lot acres
    Property size
    54,676 SF
    Property type
    Retail space
    APN
    836152010
    APU
    836152010

    Description

    This exceptional 0.3-acre commercial land parcel presents a unique build-to-suit opportunity in Newton, Iowa. Located at 3021 1st Ave E, Lot 1, this property boasts a highly desirable location with excellent visibility and accessibility. The lot is zoned Commercial, offering flexibility for a variety of development projects. Its APN is 0836152010, situated in Jasper County, Iowa, and conveniently located off Highway 6. This prime location offers significant advantages, placing your future development in close proximity to several established businesses, including Theisen's Home Farm & Auto of Marshalltown, Menard's, ServPro of Marshalltown, Hampton Inn, Culver's, Applebee's, and the Central Iowa Farm Store. The high traffic volume in this area ensures excellent exposure for any new construction. This single-tenancy lot provides an ideal opportunity for businesses seeking a strategic location in a thriving commercial area. The property's address is 3021 1st Ave E, Newton, IA 50208. This is a rare opportunity to secure a build-to-suit lot in a high-demand area. Don't miss out on this chance to establish your business in a prime location with excellent visibility and access to a strong customer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $800,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,856,000
      Market price range: $1.45M - $3.70M

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

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Jasper
    State
    Iowa
    Longitude
    -93.0158
    Latitude
    41.6984
    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
    $66,588
    $341,360
    $1,551,440
    $1,892,800
    -
    $341,360
    $1,551,440
    $1,892,800

    Comparable in this City

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      $4,990,000
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      View Details
    • Value Estimation by Request
      2,040 SF

      113 2nd E Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,040 SF
      113 2nd E Ave, Newton, IA 50208-3733
      View Details
    • Value Estimation by Request
      7,300 SF

      1719 1st E Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,300 SF
      1719 1st E Ave, Newton, IA 50208-4050
      View Details
    • Value Estimation by Request
      2,511 SF

      110 2nd W Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,511 SF
      110 2nd W Ave, Newton, IA 50208-3246
      View Details
    • Value Estimation by Request
      4,488 SF

      111 2nd N St

      RETAIL STORES (PERSONAL SERVICES) • 4,488 SF
      111 2nd N St, Newton, IA 50208-3251
      View Details
    • Value Estimation by Request
      672 SF

      109 4th S St

      RETAIL STORES (PERSONAL SERVICES) • 672 SF
      109 4th S St, Newton, IA 50208-3706
      View Details

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      Productive Farmland with Hay Shed

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    Similar Nearby for Lease

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      Newton Retail Space for Lease

      Retail space in Newton, close to downtown and local attractions.
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      Ace Hardware Plaza: Office Suites Available

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      Commercial Land For Lease

      Approximately 0.30 acres available for lease in Newton, Iowa.
      3021 1St Ave E, Newton, IA 50208
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      Office Space Available For Rent

      Single tenant office space available for rent, 4,467 SqFt.
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      Commercial Land Ready For Development

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      Industrial Facility with Rail Access

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      View Details
    View Listing
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    Newton, IA 50208
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    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
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