Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land Near State Beach Title is generated by Realmo AI

    303 27th PL S, Clear Lake, IA 50428

    View on Map
    Claim this Listing
    Picture of Land at 303 27th PL S, Clear Lake, IA
    For Sale
    $125,000

    LAND - Other - Clear Lake, IA

    Lot size:
    0.23 Acres
    Added:
    May 12, 2025
    Days on Market:
    389
    Last Refresh:
    Jun 4 at 10:06 am

    Property Features for 303 27th PL S

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    052438304700
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    L 19 SOUTH SHORE ESTATES
    Tax Annual Amount
    119

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Carrie Shannon
    Carrie Shannon

    Listing agent Carrie Shannon License #***

    Listing office Hall Realty 203 Main Avenue, Clear Lake, IA

    Listing date May 12, 2025

    MLS# 6327598 Listing URL

    Copyright © 2026 NoCoast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Steps from State Beach and lakefront living.
    • Located in a desirable, brand‑new development on a quiet cul‑de‑sac.
    • Rare opportunity to design and build a custom home.
    • Private walking path provides easy access to nature and the community.
    • Utilities are available and the lot has zero‑entry potential.
    • Optional maintenance services (snow removal and lawn care) are available.

    Overview

    This 0.233-acre lot is located in a new development off South Shore Drive in Clear Lake, Iowa, steps from State Beach. Situated on a quiet cul-de-sac, the parcel offers the opportunity to build a home in a thoughtfully planned neighborhood. A private walking path connects to South Lakeview Drive, providing access to nature and lakefront living. The setting features mature surroundings and minimal traffic. Utilities are available, and the lot offers zero-entry potential for a future home. Optional services are available for snow removal and lawn care. This site offers the flexibility to build a retreat or sanctuary in a sought-after lakeside development in Cerro Gordo County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Clear Lake
    County
    Cerro Gordo
    State
    Iowa
    Longitude
    -93.391868
    Latitude
    43.112212

    Nearby Similar for Sale

    • $700,000
      6,000 SF

      Versatile Commercial Building in Clear Lake

      6,000 sq ft commercial building on 0.68-acre corner lot.
      402 S 15th Street, Clear Lake, IA 50428
      View Details
    • $450,000
      2,818 SF

      Remodeled Duplex Near Clear Lake

      Turnkey duplex near Clear Lake's entertainment and downtown district.
      11 Sunset View Drive, Clear Lake, IA 50428
      View Details
    • $468,000

      Clear Lake Commercial Property For Sale

      Commercial property in prime location with high traffic and visibility.
      712 HWY 18 E, Clear Lake, IA 50428
      View Details
    • $259,900
      1,292 SF

      Clear Lake Duplex For Sale

      Side-by-side duplex near downtown and lake access in Clear Lake.
      207 8Th Avenue S, Clear Lake, IA 50428
      View Details
    • $468,000
      3,879 SF

      Clear Lake Commercial Property

      Commercial property in Clear Lake with high traffic location.
      712 HWY 18 E, Clear Lake, IA 50428
      View Details
    • $468,000
      3,879 SF

      Commercial Property in Clear Lake

      High-traffic location suitable for retail, office, or auto services.
      712 HWY 18 E, CLEAR LAKE, IA 50428
      View Details
    • $499,900
      3,136 SF

      Clear Lake Kennel and Home

      Acreage with fully set up kennel and beautiful home.
      815 N 40th St, CLEAR LAKE, IA 50428
      View Details
    • $210,000
      1,456 SF

      Well-Maintained Duplex Near Downtown

      Manageable duplex near downtown Clear Lake, ideal for investors.
      704 8th Avenue N, Clear Lake, IA 50428
      View Details
    • $125,000

      Residential Land in Sunset Ridge

      Established lots in a family-friendly neighborhood with modern amenities.
      413 W 12th Ave N, Clear Lake, IA 50428
      View Details
    • $80,000

      Residential Land in Clear Lake

      0.30-acre lot for residential development in a quiet cul-de-sac.
      Nash Court Lot 6, Clear Lake, IA 50428
      View Details
    • $75,000

      Residential Lot on Nash Court

      0.19-acre lot on a quiet cul-de-sac.
      Nash Court Lot 7, Clear Lake, IA 50428
      View Details
    • $224,900
      1,500 SF

      Versatile Flex Space with Loft

      1500 SF flex space with loft, bathroom, and climate control.
      1025 N 8Th Street 101, Clear Lake, IA 50428
      View Details

    FAQs

    What type of property is this?
    Land - Desirable lot to build your dream home near the beach.
    Where is this land located?
    The property is located at 303 27th PL S Clear Lake, 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: Steps from State Beach and lakefront living.; Located in a desirable, brand‑new development on a quiet cul‑de‑sac.; Rare opportunity to design and build a custom home.
    (641) 583-1649
    We can help!
    Listing Contact
    Carrie Shannon
    Carrie Shannon
    Real Estate License ID: ***
    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

    Thank You for Inquiry
    303 27th PL S, Clear Lake, IA 50428
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!