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    Residential Land in Centerville, Iowa Title is generated by Realmo AI

    536 N 3rd Street, Centerville, IA 52544

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    LAND - Other - Centerville, IA

    Lot size:
    0.67 Acres
    Added:
    Mar 21, 2026
    Days on Market:
    55
    Last Refresh:
    May 14 at 8:06 am

    Property Features for 536 N 3rd Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    340011023240000
    Lot size
    0.67 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    OAK PARK 1ST LOT 31, 32 & 33, AND- OAK PARK LOT 28
    Tax Annual Amount
    286

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Gregory Fenton

    Listing agent Gregory Fenton License #***

    Listing office RE/MAX Pride Oskaloosa 103 High Ave E, Oskaloosa, IA

    Listing date Mar 21, 2026

    MLS# 6336536 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

    • Four lots included, offering flexibility (three contiguous, one across the street).
    • Excellent location to build your dream home.
    • All city utilities are available for easy hookup.
    • Paved street access ensures convenient entry.
    • Enjoy close proximity to IHCC, the city park, and a pickle ball court.
    • Near the Historic Centerville City Square.

    Overview

    This listing features a great location for building a new home. The property includes three lots on one parcel, with an additional lot across the street, totaling four lots for sale. Located on a paved street, all city utilities are available. The property is situated close to IHCC, a city park, a pickle ball court for recreation, and the Historic Centerville City Square. The three lots are included in the 536 N 3rd Address parcel #340011023240000, and the additional lot is located at 529 N 3rd Address parcel #340011016160000. The total lot size is 0.668 acres. All lots are subject to Centerville Zoning Requirements, and potential buyers planning to build on any of the listed lots should contact the City of Centerville for building requirements.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Centerville
    County
    Appanoose
    State
    Iowa
    Longitude
    -92.88432
    Latitude
    40.73698

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    FAQs

    What type of property is this?
    Residential land & home lot - Four lots for sale in Centerville, with city utilities.
    Where is this residential land & home lot located?
    The property is located at 536 N 3rd Street Centerville, IA.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Four lots included, offering flexibility (three contiguous, one across the street).; Excellent location to build your dream home.; All city utilities are available for easy hookup.
    (641) 895-1862
    We can help!
    Listing Contact
    Gregory Fenton
    Real Estate License ID: ***
    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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