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    712 HWY 18 E Clear Lake, IA 50428

    View on Map
    For Sale
    $468,000

    1 Story,Shop, COMMERCIAL - CLEAR LAKE, IA

    Property size:
    3,879 SF
    Lot size:
    0.44 Acres
    Added:
    Jan 16, 2025
    Days on Market:
    440
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 712 HWY 18 E

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-CBD/C BUS COM
    Standard status
    Active
    APN
    051247702000
    Size
    3,879 SF
    Lot size
    0.44 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    6414

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1951
    Floors in Building
    1
    Flooring type
    Concrete, Tile
    Building materials
    Block, Frame
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    ROGER FLIETH
    ROGER FLIETH

    Listing agent ROGER FLIETH License #B43478

    Listing office CENTURY 21 PREFERRED 2800 4th SW, Mason City, IA

    Listing date Jan 16, 2025

    MLS# 250032 Listing URL

    Copyright © 2026 Greater Mason City 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

    Prime Commercial Property in Clear Lake

    This commercial property is located in a high-traffic area of Clear Lake, Iowa, at the corner of Highway 18 East and N. 8th St. The property includes a 3879 square foot building situated on a 0.445-acre lot. The building features a two-bay service shop connected to a 24x124 feet sales, office, and showroom space. A generously sized parking lot is available. The property was most recently used as a recreational rental business, offering canoes, kayaks, bikes, pontoons, and other recreational equipment. It is suitable for retail, office, or auto sales and service. The location on Highway 18 offers an opportunity for a complete rebuild and new business venture. The property is close to downtown Clear Lake and the lake, with convenient access to Interstate 35 and Avenue of the Saints. The C-CBD/C BUS COM zoning allows for flexibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    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.

    Similar Places Nearby

    • Lake Auto Service — 712 Buddy Holly Pl, Clear Lake, IA 50428

    Location Insight

    • Map
    • Local Demand
    City
    Clear Lake
    County
    Cerro Gordo
    State
    Iowa
    Longitude
    -93.375663
    Latitude
    43.144253

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    FAQs

    What type of property is this?
    Auto shop - High-traffic location suitable for retail, office, or auto service.
    Where is this auto shop located?
    The property is located at 712 HWY 18 E Clear Lake, IA.
    What is the asking price?
    The asking price for this property is $468,000.
    What are key features of this property?
    This property features: Prime high‑traffic location at the corner of Highway 18 East and N. 8th St.; Large .445 acre lot.; Versatile CH‑1 zoning allows for many business opportunities.
    (641) 420-5635
    We can help!
    Listing Contact
    ROGER FLIETH
    ROGER FLIETH
    Real Estate License ID: B43478
    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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