Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    100 Hill Ave Spirit Lake, IA 51360

    Sponsored
    For Sale
    $675,000

    Resort - Spirit Lake, IA

    Property size:
    3,410 SF
    Days on Market:
    63
    Last Refresh:
    Feb 5 at 5:06 am

    Property Features for 100 Hill Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    03-33-127-022 TBD
    Parking features
    Driveway
    Size
    3,410 SF

    Utilities

    Heating system
    Forced Air
    Cooling system
    Ductless

    Building Details

    Year built
    1964
    Building materials
    Wood Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Michael Jensen
    Michael Jensen

    Jensen Real Estate (712) 320-7245

    Listing agent Michael Jensen (712) 332-8081 License #B58673

    Listing date Dec 5, 2025

    MLS# 251434 Listing URL

    Copyright © 2026 Iowa Great Lakes Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turnkey Resort Investment Opportunity

    This is a turnkey investment opportunity to own a fully operational, year-round resort directly across from Big Spirit Lake in Spirit Lake, Iowa. The well-maintained property features six fully furnished, modern suites with kitchens, smart TVs, and upscale amenities. The property size is 3410 square feet. The resort offers ample boat parking and outdoor grilling spaces. It also provides easy access to local attractions, beaches, and recreational activities. With a strong rental history and a prime location in the Iowa Great Lakes region, this resort is an ideal investment for hospitality entrepreneurs or investors seeking steady income and long-term value.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Resorts

    Suggested Use

    Restaurant Real Estate Agency Law Firm Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Kitchen & Bath Showroom Storage Facility Electronics & Wireless Store Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spirit Lake
    County
    Dickinson
    State
    Iowa
    Longitude
    -95.1026181
    Latitude
    43.4447175

    Nearby Similar for Sale

    • $449,900
      Pending

      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
    • $675,000
      3,569 SF

      Restaurant with Drive-Thru For Sale

      High-traffic location, move-in ready restaurant with drive-thru and equipment.
      2209 Circle Dr W, Spirit Lake, IA 51360
      View Details
    • $895,000
      7,196 SF

      Highway 71 Commercial Property

      Prime commercial property on Highway 71 in Spirit Lake, Iowa.
      3307 Highway 71 S, Spirit Lake, IA 51360
      View Details
    • $349,000
      6,120 SF

      Massive Office Building with Storage

      6,120 sq ft office building with storage for sale.
      3524 Highway 71 S, Spirit Lake, IA 51360
      View Details
    • $1,500,000

      Spirit Lake Storage Facility Investment

      Large-scale storage space with immediate cash flow potential.
      18Th St, Spirit Lake, IA 51360
      View Details
    • $189,000

      Storage Condo with Highway Access

      1800 sqft storage condo with water, sewer, and loft.
      1901 32Nd St, Spirit Lake, IA 51360
      View Details
    • $749,000
      2.09 Acres

      Corner Lot in Spirit Lake

      Corner lot permitted for convenience store and gas station.
      2045 Highway 9, Spirit Lake, IA 51360
      View Details
    • $160,000
      1,400 SF

      New Customizable Storage and Lifestyle Units

      New construction storage and lifestyle units for sale in Spirit Lake.
      3156 18Th St, Spirit Lake, IA 51360
      View Details
    • $160,000
      1,400 SF

      New Customizable Storage and Lifestyle Units

      New construction storage and lifestyle units for sale in Spirit Lake.
      3156 18Th St, Spirit Lake, IA 51360
      View Details
    • $160,000
      1,400 SF

      New Customizable Storage and Lifestyle Units

      New construction storage and lifestyle units for sale in Spirit Lake.
      3156 18Th St, Spirit Lake, IA 51360
      View Details
    • $160,000
      Pending

      New Customizable Storage and Lifestyle Units

      New construction storage and lifestyle units for sale in Spirit Lake.
      3156 18Th St, Spirit Lake, IA 51360
      View Details
    • $139,900

      New Storage Units in Spirit Lake

      Newly constructed storage units ideal for various uses and storage.
      3311 37Th St, Spirit Lake, IA 51360
      View Details

    FAQs

    What type of property is this?
    Resort - Fully operational, six-unit resort near Big Spirit Lake, Iowa.
    Where is this resort located?
    The property is located at 100 Hill Ave Spirit Lake, IA.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: - Turnkey, fully furnished 6-unit resort directly across from Big Spirit Lake.; - Strong rental history and year-round operation.; - Prime location in the Iowa Great Lakes region with easy access to attractions and beaches.
    (712) 320-7245
    Request Owner's contact information
    100 Hill Ave Spirit Lake, IA 51360
    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.
    100 Hill Ave
    Spirit Lake, IA 51360
    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
    100 Hill Ave Spirit Lake, IA 51360
    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

    We can help!
    Listing Contact
    Michael Jensen
    Michael Jensen
    Real Estate License ID: B58673
    (712) 320-7245
    Learn more
    Google sign-in failed. Please try again or use another login method.