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    For Sale (31)

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    Spirit Lake Development Opportunity
    $1,650,000
    85.00 Acres

    Spirit Lake Development Opportunity

    86-acre property near Big Spirit and East Okoboji Lakes.

    252nd 260Th Ave, Spirit Lake, IA 51350
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    Residential Land in Country Club Estates
    Contact for pricing
    0.38 Acres

    Residential Land in Country Club Estates

    Residential land with utilities in desirable Country Club Estates.

    1640 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    $30,000
    0.42 Acres

    Residential Land in Country Club Estates

    Residential land with utilities, near golf course and state park.

    1661 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    Contact for pricing
    0.42 Acres

    Residential Land in Country Club Estates

    Residential land with utilities, near golf course and downtown.

    1656 365Th Ave, Estherville, IA 51334
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    Versatile Commercial Building in Estherville
    $275,000
    7,000 SF

    Versatile Commercial Building in Estherville

    7,000+ sq ft commercial building suitable for diverse ventures.

    103 S 6Th St, Estherville, IA 51334
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    Commercial Land in Spirit Lake
    $123,500
    0.44 Acres

    Commercial Land in Spirit Lake

    Commercial zoned land in a prime business location.

    Lake St, Spirit Lake, IA 51360
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    New Customizable Storage and Lifestyle Units
    $160,000

    New Customizable Storage and Lifestyle Units

    New construction storage and lifestyle units for sale in Spirit Lake.

    3156 18Th St, Spirit Lake, IA 51360
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    Residential Land in Country Club Estates
    Contact for pricing
    0.38 Acres

    Residential Land in Country Club Estates

    Residential land with utilities, near golf course and downtown.

    1634 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    Contact for pricing
    0.34 Acres

    Residential Land in Country Club Estates

    Residential land with utilities in sought-after Estherville development.

    1671 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    $32,000
    0.38 Acres

    Residential Land in Country Club Estates

    Residential land with utilities, tax abatement, and recreational access.

    1649 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    $32,000
    0.41 Acres

    Residential Land in Country Club Estates

    Residential land with utilities in sought-after Country Club Estates.

    1647 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    Contact for pricing
    0.45 Acres

    Residential Land in Country Club Estates

    Residential land with utilities, near golf course and downtown.

    1618 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    Contact for pricing
    0.42 Acres

    Residential Land in Country Club Estates

    Residential land with utilities in sought-after Estherville development.

    1648 365Th Ave, Estherville, IA 51334
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    New Customizable Storage & Lifestyle Units
    $160,000

    New Customizable Storage & Lifestyle Units

    New construction storage and lifestyle units for sale in Spirit Lake.

    3156 18Th St, Spirit Lake, IA 51360
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    New Customizable Storage & Lifestyle Units
    $160,000
    5,600 SF

    New Customizable Storage & Lifestyle Units

    New construction storage units for sale in Spirit Lake, IA.

    3156 18Th St, Spirit Lake, IA 51360
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    New Customizable Storage & Lifestyle Units
    $160,000

    New Customizable Storage & Lifestyle Units

    New construction storage and lifestyle units for sale in Spirit Lake.

    3156 18Th St, Spirit Lake, IA 51360
    View details
    Estherville Land for Dream Home
    Contact for pricing
    0.67 Acres

    Estherville Land for Dream Home

    Elite Country Club Estates lot ready for your dream home.

    1663 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    Contact for pricing
    0.33 Acres

    Residential Land in Country Club Estates

    Residential land with utilities in sought-after Estherville development.

    1659 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    Contact for pricing
    0.38 Acres

    Residential Land in Country Club Estates

    Residential land with utilities, near golf course and downtown.

    1667 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    Contact for pricing
    0.40 Acres

    Residential Land in Country Club Estates

    Residential land with utilities, near golf course and state park.

    1665 365Th Ave, Estherville, IA 51334
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    Estherville Land in Country Club Estates
    Contact for pricing
    0.30 Acres

    Estherville Land in Country Club Estates

    Residential land with utilities in desirable Country Club Estates.

    1675 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    Contact for pricing
    0.31 Acres

    Residential Land in Country Club Estates

    Residential land with utilities, near golf course and downtown.

    1673 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    Contact for pricing
    0.32 Acres

    Residential Land in Country Club Estates

    Residential land with utilities, near golf course and state park.

    1669 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    Contact for pricing
    0.36 Acres

    Residential Land in Country Club Estates

    Residential land with utilities in sought-after Country Club Estates.

    1633 365Th Ave, Estherville, IA 51334
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    Residential Land in Country Club Estates
    Contact for pricing
    0.34 Acres

    Residential Land in Country Club Estates

    Residential land with utilities in sought-after Estherville development.

    1641 365Th Ave, Estherville, IA 51334
    View details
    Commercial Land in Spirit Lake
    $56,500
    0.22 Acres

    Commercial Land in Spirit Lake

    Commercial land available in Spirit Lake, Iowa.

    Lake St, Spirit Lake, IA 51360
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    36-Room Travelodge in Spirit Lake
    $1,795,000
    1.09 Acres

    36-Room Travelodge in Spirit Lake

    Spirit Lake Travelodge with income potential and expansion opportunity.

    1905 18Th St, Spirit Lake, IA 51360
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    Residential Land in Country Club Estates
    Contact for pricing
    0.34 Acres

    Residential Land in Country Club Estates

    Residential land with utilities, tax abatement, and recreational access.

    1636 365Th Ave, Estherville, IA 51334
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    Commercial Corner Lot in Spirit Lake
    Contact for pricing

    Commercial Corner Lot in Spirit Lake

    Commercial land in prime business location, Spirit Lake, Iowa.

    000 Lake St, Spirit Lake, IA 51360
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    Okoboji Lake Access Condominium
    Contact for pricing
    789 SF

    Okoboji Lake Access Condominium

    Newly renovated 1-2 bedroom units with lake access.

    1316 Highway 71 N 13, Okoboji, IA 51355
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    Retail Space in Central Location
    Contact for pricing
    6,000 SF

    Retail Space in Central Location

    High-traffic retail space available in the heart of the community.

    614 Central Ave, Estherville, IA 51334
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    For Lease (3)

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    Updated Commercial Spaces in Wahpeton
    $1,578 / Mo

    Updated Commercial Spaces in Wahpeton

    Updated commercial spaces perfect for retail, office, or service businesses.

    1127 Lakeside Ave, Wahpeton, IA 51360
    View details
    Retail Space in Estherville, IA
    $3 SF/Yr

    Retail Space in Estherville, IA

    High-traffic commercial/retail space in the heart of the community.

    614 Central Ave, Estherville, IA 51334
    View details
    Updated Commercial Space in Wahpeton
    $1,139 / Mo

    Updated Commercial Space in Wahpeton

    Move-in ready commercial space suitable for retail or office use.

    1127 Lakeside Ave, Wahpeton, IA 51360
    View details

    Leases and Sales on Map

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    • For Lease

    Properties for sale

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    EXIT Realty Midwest
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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
    EXIT Realty Midwest
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