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    118 W 1St St Sumner, IA 50674

    View on Map
    Sponsored
    For Sale
    $449,900

    SINGLE_FAMILY - Sumner, IA

    Type:Office
    Property size:
    6,416 SF
    Lot size:
    0.12 Acres
    Days on Market:
    25
    Last Refresh:
    Mar 10 at 1:06 am

    Property Features for 118 W 1St St

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    Zoning
    C & R
    APN
    0424366007
    Size
    6,416 SF
    Lot size
    0.12 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air, Hot Water(Heating)
    Cooling system
    Multi Units, Central Air

    Building Details

    Year built
    1897
    Flooring type
    Wood
    Roof type
    Metal

    We can help!

    Listing Contact
    Timothy Lalk

    Century 21 Signature Real Estate (319) 239-1281

    Listing agent Timothy Lalk (319) 352-1157

    Listing date Feb 13, 2026

    MLS# 20252664

    Copyright © 2026 Northeast Iowa Regional 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

    Historic Sumner Mixed-Use Property

    This iconic property in Sumner, originally built in 1897 as the Bank of Sumner by Stephen F. Cass, offers 6,416 square feet of historic charm and character. The building, listed on the National Registry of Historic Places in 2004 after a complete gut renovation, currently houses a bar and restaurant on the ground floor, with the upper level designated for short-term rentals. The property features a vintage 20-foot mahogany bar with an armrest, footrest, and brass waiter bar, as well as three floor-to-ceiling stone fireplaces. An elevator provides access to the second-floor living area, which includes a 1,200 square foot deck. A lift provides access to a partially finished basement. The upper level includes three bedrooms, each with its own private bath. With a simple change of three door knobs on the second floor, it could be converted back into a 3,200 sq ft residence featuring three bedrooms and 3.5 baths or continue it as a successful short term rental. The property is zoned C & R and sits on a 0.12-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Property Shoppe Real Estate Agency Clocktower Koselig Bar & Pub S K Rogers ... Social Service Agency Midwest Trunk Co Home Decor Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Building Supply Gym & Fitness Center Auto Repair Shop Pharmacy Big Box & Wholesale Store

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

    Similar Places Nearby

    Meadowbrook Country Club, Clocktower Koselig

    Location Insight

    • Map
    • Local Demand
    City
    Sumner
    County
    Bremer
    State
    Iowa
    Longitude
    -92.098813
    Latitude
    42.847678

    Nearby Similar for Sale

    • $59,000
      5,720 SF

      Sumner Warehouse: Prime Commercial Space

      Spacious warehouse, updated roof, 4 docks.
      214 Carpenter St, Sumner, IA 50674
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Remodeled historic building with bar, restaurant, and short-term rentals.
    Where is this bar & pub located?
    The property is located at 118 W 1St St Sumner, IA.
    What is the asking price?
    The asking price for this property is $449,900.
    What are key features of this property?
    This property features: - Historic building: Originally Bank of Sumner, built in 1897, listed on the National Registry of Historic Places.; - Mixed-use configuration: Bar/restaurant on the ground floor and short-term rentals on the upper level.; - Potential to convert the upper level into a 3,200 sq ft residence with three bedrooms and 3.5 baths.
    (319) 239-1281
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    118 W 1St St Sumner, IA 50674
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    Sumner, IA 50674
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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
    118 W 1St St Sumner, IA 50674
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    We can help!
    Listing Contact
    Timothy Lalk
    Real Estate License ID: S71966000
    (319) 239-1281 (319) 504-9351 (319) 352-1157
    Learn more
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