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    Commercial Property in Clear Lake

    712 HWY 18 E Clear Lake, IA 50428

    712 HWY 18 E, Clear Lake, IA, 50428
    $468,000
    For Sale
    Under Contract
    Claim this Listing
    $468,000

    COMMERCIAL - CLEAR LAKE, IA

    Property Size3,879 SF
    Lot Size0.44 Acres
    Price / SF$120.65
    AddedJan 16, 2025
    Days on Market545
    Last RefreshJul 15 at 6:06 pm

    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 Under Contract
    Size
    3,879 SF
    Lot size
    0.44 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    parcel 051247702000
    Tax Annual Amount
    6414

    Utilities

    Cooling system
    Central Air

    Building Details

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

    Listing agent ROGER FLIETH License #B43478

    Listing office CENTURY 21 PREFERRED 2800 4th SW SUITE #3, Mason City, IA

    Listing date Jan 16, 2025

    MLS# 250032

    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.

    Investment Insights

    Based on property information with market context.

    This commercial property is located in a high-traffic area of Clear Lake, at the corner of Highway 18 East and N. 8th St. The property includes a 3,879 square foot building on a 0.445-acre lot. The building features a 2-bay service shop connected to 124 x 24 feet of sales, office, and showroom space. A generously sized parking lot is also included. 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 makes it a prime opportunity for a complete rebuild and new business. The property is close to downtown Clear Lake and the lake, with good connections to Interstate 35 and Avenue of the Saints. The C-CBD/C BUS COM zoning allows for much opportunity and flexibility.

    Key Highlights

    • Prime highway location at the corner of Highway 18 East and N. 8th St. with high traffic volume.
    • Large .445 acre lot offering potential for rebuild or expansion.
    • Versatile 3879 sq. ft. building suitable for retail, office, auto sales/service, or other businesses.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $46.5k $12.00
    − Vacancy −$3.7k −$0.96
    EGI $42.8k $11.04
    − OpEx −$12.8k −$3.31
    NOI $30.0k $7.73
    3,879 SF · lease $12.00/SF/yr · vacancy 8.00% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $428.2K
    $374.7K – $499.6K (±1% cap)
    NOI $29,977 @ 7.0% cap · market cap 6.41%
    Second Best
    Industrial
    $321.2K
    $281.0K – $374.7K (±1% cap)
    NOI $22,483 @ 7.0% cap · market cap 4.80%
    Theoretical Best
    Office A
    $973.7K
    $852.0K – $1.14M (±1% cap)
    NOI $68,161 @ 7.0% cap · market cap 14.56%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Auto Repair Shop HVAC Service Big Box & Wholesale Store Accounting Firm Kitchen & Bath Showroom Bakery Daycare Center Pharmacy (Bike/Boat/Book/etc) Store Furniture & Home Goods

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

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    FAQs

    What type of property is this?
    Auto shop - High-traffic location suitable for retail, office, or auto services.
    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 highway location at the corner of Highway 18 East and N. 8th St. with high traffic volume.; Large .445 acre lot offering potential for rebuild or expansion.; Versatile 3879 sq. ft. building suitable for retail, office, auto sales/service, or other businesses.
    Contact an agent
    (641) 420-5635
    We can help!
    Contact an agent
    ROGER FLIETH
    ROGER FLIETH
    Real Estate License ID: B43478
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