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    118 W 1St St Sumner, IA 50674

    Sponsored
    For Sale
    $499,900

    SINGLE_FAMILY - Sumner, IA

    Type:Office
    Lot size:
    0.12 Acres
    Days on Market:
    224
    Last Refresh:
    Jan 23 at 6:06 pm

    Property Features for 118 W 1St St

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    Zoning
    C & R
    APN
    0424366007
    Lot size
    0.12 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Forced Air, Natural Gas
    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 Jun 14, 2025

    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 Building with Rental Income

    This iconic property in Sumner, originally built in 1897 as the Bank of Sumner, offers 6,416 sq ft of historic charm and character. The building, listed on the National Registry of Historic Places in 2004 after a complete renovation, currently houses a bar and restaurant on the ground floor, with the upper level designated for short-term rentals. The property features three bedrooms, each with a private bath, and three floor-to-ceiling stone fireplaces. A vintage 20 ft mahogany bar includes an armrest, footrest, and brass waiter bar. An elevator provides access to the second-floor living area, which also features a 1,200 sq ft deck. A lift accesses a partially finished basement. Situated on a 0.12-acre lot, the property's zoning is C & R. The upper level could be converted back into a 3,200 sq ft residence featuring three bedrooms and 3.5 baths with a simple change of three door knobs. Furnishings, equipment, and inventory are negotiable. The property is located in Sumner, Iowa.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Property Shoppe Real Estate Agency Clocktower Koselig Lounge S K Rogers ... Funeral Home Midwest Trunk Co Antique Furniture Restoration Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Building Supply Clothing Store Gym & Fitness Auto Repair Shop Pharmacy

    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 - Remodeled historic building with bar, restaurant, and short-term rentals.
    Where is this bar located?
    The property is located at 118 W 1St St Sumner, IA.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: - Iconic, meticulously remodeled historic property (6,416 sq ft) with conversion potential.; - Currently configured with a ground-floor bar/restaurant and upper-level short-term rentals, offering immediate income potential.; - Features a vintage 20 ft mahogany bar, three floor-to-ceiling stone fireplaces, and an elevator.
    (319) 239-1281
    Request Owner's contact information
    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
    Learn more
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