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    405 State Street Garner, IA 50438

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    Claim this Listing
    For Sale
    $175,000

    SINGLE_FAMILY - Garner, IA

    Type:Retail
    Lot size:
    0.19 Acres
    Added:
    Dec 23, 2025
    Days on Market:
    108
    Last Refresh:
    Apr 10 at 12:06 am

    Property Features for 405 State Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    C
    Standard status
    Active
    APN
    2101250132
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    ORIG LOT 13 EXC S 6" & ALL LOTS 14 & 15 & PARTY WALL BLK 25
    Tax Annual Amount
    4434

    Building Details

    Year built
    1919

    We can help!

    Listing Contact
    Jared Hottle
    Jared Hottle

    Listing agent Jared Hottle License #S68688000

    Listing office Berkshire Hathaway Home Services One Realty Centre 1118 Ansborough Ave, Waterloo, IA

    Listing date Dec 23, 2025

    MLS# 20256089

    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.

    Overview

    Restaurant Opportunity in Downtown Garner

    This turn-key restaurant opportunity is located in downtown Garner. The former Pizza Ranch location features over 4,500 square feet, a complete commercial kitchen, a large dining area, multiple party rooms, and office space. The property benefits from high visibility with over 4,500 cars per day and excellent foot traffic on State Highway 18. Garner has a population of over 3,000 residents with an average income exceeding $86,000. The property is strategically located between Mason City, Clear Lake, and Forest City, and its county seat location brings consistent traffic. Situated on a lot of 0.189 acres, the property offers flexible use options, including operating a full restaurant, splitting the operation for rental income, or utilizing it as a pure investment. The location benefits from strong community support, an active Chamber of Commerce, and local bank backing. This property is ready for immediate operation and is suitable for a restaurateur, entrepreneur, or investor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Restaurants

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Garner
    County
    Hancock
    State
    Iowa
    Longitude
    -93.60192
    Latitude
    43.101284

    Nearby Similar for Sale

    • $175,000
      4,500 SF

      Turn-Key Restaurant in Downtown Garner

      Former Pizza Ranch location with complete commercial kitchen and dining.
      405 State St, Garner, IA, 50438-1334
      View Details
    • $425,900
      1,470 SF

      New Construction Twin Home

      Spacious 2-bedroom twin home with 3-stall garage in Garner, Iowa.
      290 Fuller Drive, Garner, IA 50438
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    • $350,000
      5,000 SF

      Storage Facility with Income Potential

      33 storage units, office, and parking in Garner, Iowa.
      320 Division Street, Garner, IA 50438
      View Details

    FAQs

    What type of property is this?
    Restaurant - Turn-key restaurant in downtown Garner with high traffic.
    Where is this restaurant located?
    The property is located at 405 State Street Garner, IA.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Turn‑key restaurant opportunity with complete commercial kitchen and large dining area.; High traffic location: Over 4,500 cars/day plus excellent foot traffic on State Highway 18.; Flexible use: Operate full restaurant, split operation/rental, or pure investment.
    (319) 288-5382
    We can help!
    Listing Contact
    Jared Hottle
    Jared Hottle
    Real Estate License ID: S68688000
    Learn More
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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
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