Add Listing
    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

    Lot # 21 Oak Park Boone, IA 50036

    View on Map
    For Sale
    $125,000

    Residential - Boone, IA

    Lot size:
    0.46 Acres
    Added:
    Jan 27, 2025
    Days on Market:
    424
    Last Refresh:
    Mar 27 at 10:06 am

    Property Features for Lot # 21 Oak Park

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.46 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Nate Nerem

    Listing agent Nate Nerem License #B57254

    Listing office Nerem & Associates 1215 SE Marshall St., Boone, IA 50036, Boone, IA

    Listing date Jan 27, 2025

    MLS# 66384 Listing URL

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

    Overview

    Oak Park Development Land

    Located on West Park St and Marion St, the Oak Park Development offers 53 proposed residential lots. The location provides access to amenities within 3 miles, including McHose Park, Rail Explorers, Ledges State Park, and Seven Oaks Ski Hill. All builders are welcome. Offers are contingent on final buyer approval of the final plat, with closings to follow 30 days after contingencies have been removed. One available lot is approximately 0.46 acres.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Boone
    County
    Boone
    State
    Iowa
    Longitude
    -93.8261
    Latitude
    42.1219

    Nearby Similar for Sale

    • $399,000
      6,560 SF

      Versatile Commercial Property in Boone

      Spacious commercial property with office and warehouse space in Boone.
      2136 Mamie Eisenhower Avenue, Boone, IA 50036
      View Details
    • $1.00

      Boone Land with Highway Visibility

      25.45 acres of land with high traffic location.
      1264 T Ave, Boone, IA 50036
      View Details
    • $1.00

      Boone Land with Highway Visibility

      25.45 acres of industrial land with high traffic location.
      1264 T Ave, Boone, IA 50036
      View Details
    • $99,000

      Residential Lot Near Golf Course

      0.33-acre residential lot near Cedar Pointe Golf Course.
      1615 Hancock Drive, Boone, IA 50036
      View Details
    • $129,000

      Golf Course View Residential Lot

      0.6-acre lot with golf course views near town.
      1389 231st Road, Boone, IA 50036
      View Details
    • $32,000

      Residential Lot Ready for Development

      90x90 residential lot with utilities and alley access.
      1122 18th Street, Boone, IA 50036
      View Details
    • $229,900

      Well-Kept Investment Property in Boone

      Five-unit residential building with long-term tenants and income potential.
      316 Boone Street, Boone, IA 50036
      View Details
    • $225,000

      5.34 Acres of Hunting Land

      5.34 acre property ideal for hunting and building.
      1260 BLK 252nd Lane, Boone, IA 50036
      View Details
    • $2,250,000
      12,960 SF

      Versatile Industrial Property with Owner's Suite

      12,960 sq ft warehouse on 3 acres with living space.
      2618 Eastgate Dr, Boone, IA
      View Details
    • $3,595,000
      42,122 SF

      The Briza Apartments Investment Opportunity

      57-unit apartment community in Boone, Iowa. Value-add opportunity.
      1104 8th Street, Boone, IA, 50036
      View Details
    • $1,725,000
      23,760 SF

      Parkview Terrace Multifamily Investment Opportunity

      24-unit apartment community in Boone, Iowa with value-add potential.
      1003 Parkway Drive, Boone, IA, 50036
      View Details
    • $50,000
      1 SF

      Industrial Land for Sale

      Gravel surfaced industrial lot suitable for parking or storage.
      1737 Mamie Eisenhower Avenue, Boone, IA, 50036
      View Details

    FAQs

    What type of property is this?
    Land - Residential lots available in Boone, Iowa's Oak Park Development.
    Where is this land located?
    The property is located at Lot # 21 Oak Park Boone, IA.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Prime Location: Unmatched location on West Park St and Marion St, Boone IA.; Development Opportunity: Build your dream home in the new Oak Park Development.; Multiple Lots Available: Choose from 53 proposed lots.
    (515) 314-3099
    We can help!
    Listing Contact
    Nate Nerem
    Real Estate License ID: B57254
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!