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    Hinn Real Estate

    2916 Hwy 71 S, Spirit Lake, IA 51360
    (712) 336-1240
    Web Site
    Size: under 10 agents

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    Property Types

    • Land
    • Commercial Sale

    Listings

    For Sale (20)

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    Large Residential Lot in Spencer
    $39,900
    0.40 Acres

    Large Residential Lot in Spencer

    Over 0.4 acre lot in established Spencer neighborhood.

    907 6Th St SW Lots 31 & 32, Spencer, IA 51301
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    Residential Lot in Established Neighborhood
    Contact for pricing
    0.22 Acres

    Residential Lot in Established Neighborhood

    Corner lot perfect for building a new home.

    903 6Th St SW, Spencer, IA 51301
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    Residential Lot in Spencer, Iowa
    Contact for pricing
    0.26 Acres

    Residential Lot in Spencer, Iowa

    Residential lot available in established Spencer neighborhood near amenities.

    1005 6Th St SW, Spencer, IA 51301
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    Spencer Iowa Golf Course Quadruplex
    $409,000
    0.33 Acres

    Spencer Iowa Golf Course Quadruplex

    Fully rented quadruplex near Spencer Municipal Golf Course.

    1704 4Th Ave SW, Spencer, IA 51301
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    Spencer, IA Duplex Investment
    $175,000
    0.47 Acres

    Spencer, IA Duplex Investment

    Duplex in Spencer, IA, close to schools and amenities.

    429 6Th Ave SW, Spencer, IA 51301
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    Okoboji Retail Investment Opportunity
    $990,900
    9,900 SF

    Okoboji Retail Investment Opportunity

    Commercial property in the Iowa Great Lakes with rental income.

    1008 Eastview Ave, Okoboji, IA 51355
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    Storm Lake Commercial Building For Sale
    $1,500,000
    12,000 SF

    Storm Lake Commercial Building For Sale

    12,000 SF commercial building on 3.71 acres in Storm Lake.

    2400 Expansion Blvd, Storm Lake, IA 50588
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    Marathon, Iowa Recreational Land
    $49,900
    12.80 Acres

    Marathon, Iowa Recreational Land

    12.8 acres of recreational land near the Raccoon River.

    000 210Th Ave, Marathon, IA 50565
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    Spencer, Iowa Triplex Opportunity
    $68,000
    0.18 Acres

    Spencer, Iowa Triplex Opportunity

    Three-unit property in Spencer, Iowa, ideal for investment.

    807 4Th Ave W, Spencer, IA 51301
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    Spirit Lake Storage Facility Investment
    $1,500,000

    Spirit Lake Storage Facility Investment

    Large-scale storage space with immediate cash flow potential.

    18Th St, Spirit Lake, IA 51360
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    Highway Frontage Commercial Lot
    $375,000
    0.69 Acres

    Highway Frontage Commercial Lot

    High-visibility commercial lot on heavily traveled Highway 71 & 9.

    1909 18Th St, Spirit Lake, IA 51360
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    Former Truck Shop with Extras
    $350,000
    9,644 SF

    Former Truck Shop with Extras

    Versatile commercial building with included equipment and additional lot.

    906 E Milwaukee St, Spencer, IA 51301
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    Residential Lot in Spirit Lake
    $75,000
    0.21 Acres

    Residential Lot in Spirit Lake

    Building lot in new development near schools, YMCA, and trails.

    3214 Honeycomb Ct, Spirit Lake, IA 51360
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    Spirit Lake Building Lot
    $75,000

    Spirit Lake Building Lot

    Located close to schools, YMCA, stores, and bike trail.

    3218 Honeycomb Ct, Spirit Lake, IA 51360
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    Spirit Lake Residential Building Lot
    $75,000

    Spirit Lake Residential Building Lot

    Building lot near schools, YMCA, stores, and bike trail.

    3202 Honeycomb Ct, Spirit Lake, IA 51360
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    Spirit Lake Residential Building Lot
    $75,000

    Spirit Lake Residential Building Lot

    Building lot near schools, YMCA, stores, and bike trail.

    3206 Honeycomb Ct, Spirit Lake, IA 51360
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    Residential Lot in Spirit Lake
    $75,000
    0.40 Acres

    Residential Lot in Spirit Lake

    Located near schools, YMCA, stores, and bike trail.

    3210 Honeycomb Ct, Spirit Lake, IA 51360
    View details
    Prime Commercial Property in Storm Lake
    $655,000
    4.00 Acres

    Prime Commercial Property in Storm Lake

    High-visibility commercial property with multiple buildings on 4+ acres.

    1703 E Lakeshore Dr, Storm Lake, IA 50588
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    Versatile Commercial Property in Spirit Lake
    $449,900
    6,696 SF

    Versatile Commercial Property in Spirit Lake

    Two insulated, heated buildings with showroom, office, and storage space.

    2216 15Th St, Spirit Lake, IA 51360
    View details
    Spirit Lake Residential Building Lot
    $59,325
    0.22 Acres

    Spirit Lake Residential Building Lot

    Located near schools, YMCA, shops, and Dickinson County Bike Trail.

    3126 Spruce Ct, Spirit Lake, IA 51360
    View details

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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
    Hinn Real Estate
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