Sign Up Successful!
You now have access to more from Realmo!
    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

    30 Plymouth St SW Le Mars, IA 51031

    Sponsored
    For Sale
    $635,000

    Commercial - LeMars, IA

    Lot size:
    0.09 Acres
    Days on Market:
    88
    Last Refresh:
    Feb 6 at 9:06 am

    Property Features for 30 Plymouth St SW

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    19149-12-16-130-001
    Lot size
    0.09 Acres

    Building Details

    Year built
    1895
    Architectural style
    Other

    We can help!

    Listing Contact
    Jeff Carlson
    Jeff Carlson

    Salem Real Estate (712) 224-4100

    Listing agent Jeff Carlson (712) 224-4100

    Listing date Nov 11, 2025

    MLS# 829851 Listing URL

    Copyright © 2026 Northwest 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 LeMars Commercial Masterpiece

    This renovated historic commercial property in LeMars, Iowa, offers a rare opportunity for investment or business ownership with steady rental income. The building has been painstakingly restored to its original glory, showcasing exposed brick, original tin ceilings, and architectural details. Two luxury apartments upstairs combine modern convenience with timeless character, suitable for generating rental income of $3,000 per month. The landmark property was once the largest department store in Iowa outside of Sioux City west of the Mississippi and is located on the first paved street in the state. It occupies a marquee location in the "Ice Cream Capital of the World," providing visibility on a busy thoroughfare into downtown. The restoration includes a new roof, windows, and updates to mechanical, plumbing, and electrical systems. The property sits on a lot of 0.09 acres in Plymouth County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Le Mars Toy ... (Bike/Boat/Book/etc) Store Tavo's Carpet & Flooring ... Big Box & Wholesale Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Le Mars
    County
    Plymouth
    State
    Iowa
    Longitude
    -96.166217
    Latitude
    42.793006

    Nearby Similar for Sale

    • $800,000
      0.75 Acres

      LeMars Landmark Restaurant and Bar

      Turnkey restaurant and bar with a strong local reputation.
      630 8Th Ave SW, Le Mars, IA 51031
      View Details
    • $288,000
      0.15 Acres

      LeMars Commercial Storage Unit

      First-class constructed commercial storage unit in prime LeMars location.
      1957 SW 34 St, Le Mars, IA 51031
      View Details
    • $192,000
      1,920 SF

      LeMars Commercial Storage Unit

      First-class constructed commercial storage unit in prime LeMars location.
      1957 SW 34 St, Le Mars, IA 51031
      View Details
    • $288,000
      0.15 Acres

      LeMars Commercial Storage Unit For Sale

      First-class commercial storage unit with premium amenities in prime location.
      1957 SW 34 St, Le Mars, IA 51031
      View Details
    • Contact for pricing
      21,800 SF

      Expansive Warehouse Space in LeMars

      21,800 sq ft heated warehouse space in excellent condition.
      1540 18Th St SW, Le Mars, IA 51031
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Renovated historic commercial property with income potential in LeMars, Iowa.
    Where is this mixed-use property located?
    The property is located at 30 Plymouth St SW Le Mars, IA.
    What is the asking price?
    The asking price for this property is $635,000.
    What are key features of this property?
    This property features: - Fully renovated historic commercial building with two luxury apartments; - Generates $3,000 per month in rental income; - Prime location on a busy thoroughfare with high visibility
    (712) 635-1763
    Request Owner's contact information
    30 Plymouth St SW Le Mars, IA 51031
    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.
    30 Plymouth St SW
    Le Mars, IA 51031
    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
    30 Plymouth St SW Le Mars, IA 51031
    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

    We can help!
    Listing Contact
    Jeff Carlson
    Jeff Carlson
    Real Estate License ID: S68807000
    (712) 635-1763
    Learn more
    Google sign-in failed. Please try again or use another login method.