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    11475 Highway 9 Thompson, IA 50478

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    Claim this Listing
    For Sale
    $795,000

    COMMERCIAL - Thompson, IA

    Property size:
    10,264 SF
    Lot size:
    3.03 Acres
    Added:
    Apr 3, 2025
    Days on Market:
    388
    Last Refresh:
    Apr 25 at 4:06 am

    Property Features for 11475 Highway 9

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Appliances
    Range, Microwave, Refrigerator
    Standard status
    Active
    APN
    0623351004
    Size
    10,264 SF
    Lot size
    3.03 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    23 99 25 A TR IN 23 99 25 DESC BY METES & BDS IN BK 4 PG 128 ALSO 23 99 25 ROW LOCATED IN SEC EX A TR TO THOM SUPERMARKET & EX A TR FARMER COOP #0220200 AND PARCEL "B" DESC IN PLAT 2017-1240
    Tax Annual Amount
    7590

    Utilities

    Heating system
    Radiant, Forced Air
    Water source
    Public
    Water front features
    Pond

    Building Details

    Year built
    2014
    Number of units
    3
    Building materials
    Metal Siding

    We can help!

    Listing Contact
    Pamela Yegge

    Listing agent Pamela Yegge License #***

    Listing office EXIT Realty Home/Land Properties 215 E State Street, Algona, IA

    Listing date Apr 3, 2025

    MLS# 6326328

    Copyright © 2026 NoCoast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Highway Frontage Commercial Property

    This commercial property for sale features highway frontage and great visibility. Currently set up as a repair shop and auto parts store, the location offers a fantastic opportunity for business ownership and has the potential to be used for many other businesses or the possibility of creating a residence in the adjoining building. The property includes a waste oil heater in the back of the building, a new air compressor in 2024, and appliances in the off shop kitchen area. The kitchen/office area has an adjacent bathroom. Located on the property are three buildings. Building 1, built in 2014, is 6240 square feet, fully insulated with radiant heat, and includes a waste oil heater in the back area. Building 2, also built in 2014, is 960 square feet and contains the office/kitchen areas, with heating and cooling. Building 3 adjoins building #1, was added in 2015, is 3064 square feet, and has heating and central AC. The property also features a pond on the adjoining parcel with a small shed. The property is located in Thompson, Iowa, and the lot size is 3.03 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Food Market Storage Facility Grocery & Convenience Store Bar & Pub Electrical Service Tanning Salon Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Thompson
    County
    Winnebago
    State
    Iowa
    Longitude
    -93.772161
    Latitude
    43.374525

    FAQs

    What type of property is this?
    Auto shop - Commercial property with great visibility and multiple business possibilities.
    Where is this auto shop located?
    The property is located at 11475 Highway 9 Thompson, IA.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: Highway frontage with great visibility for commercial use.; Three buildings totaling 10,264 SF (6240 SF, 960 SF, and 3064 SF) suitable for various business needs or residential conversion.; Building 1 features radiant heat and a waste oil heater.
    (641) 590-3471
    We can help!
    Listing Contact
    Pamela Yegge
    Real Estate License ID: ***
    Learn More
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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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