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    131 Broadway St Charlotte, IA 52731

    Sponsored
    For Sale
    $230,000

    COMMERCIAL - Charlotte, IA

    Lot size:
    3.10 Acres
    Days on Market:
    50
    Last Refresh:
    Jan 27 at 3:06 am

    Property Features for 131 Broadway St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residentia
    APN
    62-0026-0000
    Lot size
    3.10 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Multi Units

    Building Details

    Floors in Building
    1
    Number of units
    7
    Flooring type
    Carpet, Tile
    Building materials
    Steel Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Dennis Lauver

    Howes & Jefferies Realtors (563) 242-3265

    Listing agent Dennis Lauver

    Listing date Dec 9, 2025

    MLS# QC4264357

    Copyright © 2025 RMLS Alliance. 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

    Charlotte, IA Commercial Opportunity

    This property presents two potential avenues for return on investment. The site includes a mobile home park with 7 rental units, offering room for expansion. Annual expenses for water, sewer, trash, and recycling total $6,000, with title tags on trailers costing $350. There is an opportunity to increase revenue through rent adjustments, as it has been over 2 years since the last increase. Current lot rents are: Lot 1 at $300 monthly, Lot 2 at $600 monthly, Lots 3 & 4 at $650-700 monthly, Lot 6 at $550 monthly, Lots 7 & 8 at $600 and $650 monthly respectively. Lot 5 is currently vacant but could generate $250 to $300 in monthly rent. The unit closest to Broadway is owner-occupied and not included in the sale; the remaining units are part of the property. Alternatively, the approximately 3-acre site could be converted into a residential development to capitalize on the demand for housing in a rural setting like Charlotte. The natural, wooded views from the site are expected to be attractive to potential home builders.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Restaurant Wholesale Shop Bar & Pub Discount Store Electrical Service Pawn Shop Italian Restaurant Butcher Parking Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Clinton
    State
    Iowa
    Longitude
    -90.470529
    Latitude
    41.964394

    Nearby Similar for Sale

    • $197,000
      2,520 SF

      Charlotte IA Commercial Property

      Bar & Grill, .48 Acre Lot, High Traffic
      112 1St St, Charlotte, IA 52731
      View Details

    FAQs

    What type of property is this?
    Mobile home & RV park - 3-acre site with mobile home park and development potential.
    Where is this mobile home & rv park located?
    The property is located at 131 Broadway St Charlotte, IA.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: - Dual investment opportunity: existing mobile home park and residential development potential.; - Mobile home park with 7 existing rentals provides immediate income.; - Opportunity to increase revenue through rent increases in the mobile home park.
    (563) 242-3265
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    131 Broadway St Charlotte, IA 52731
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    Charlotte, IA 52731
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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
    131 Broadway St Charlotte, IA 52731
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    We can help!
    Listing Contact
    Dennis Lauver
    Real Estate License ID: B63532000/475.165634
    (563) 242-3265
    Learn more
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