Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Oak Park lot # 36 Boone, IA 50036

    View on Map
    For Sale
    $70,000

    LAND - Boone, IA

    Lot size:
    0.40 Acres
    Added:
    Jan 27, 2025
    Days on Market:
    432
    Last Refresh:
    Apr 4 at 8:06 am

    Property Features for Oak Park lot # 36

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    city
    Standard status
    Active
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Description
    To be set by the Abstract

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Nate Nerem

    Listing agent Nate Nerem License #B57254

    Listing office Nerem & Associates 1215 SE Marshall St., Boone, IA

    Listing date Jan 27, 2025

    MLS# 66399

    Copyright © 2026 Central Iowa Board of Realtors, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Land in Oak Park Development

    Located in the Oak Park Development on West Park St and Marion St in Boone, Iowa, this residential land offers an opportunity to build a home. The development features 53 proposed lots. The location is situated approximately 3 miles or less from work and 3 minutes from amenities. Nearby attractions include McHose Park, Rail Explorers, Ledges State Park, and Seven Oaks Ski Hill. All builders are welcome. The lot size is approximately 0.4 acres. All offers will be contingent on final Buyer approval of final plat and all closings to follow 30 days after contingencies have been removed.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Boone
    County
    Boone
    State
    Iowa
    Longitude
    -93.89996
    Latitude
    42.047571

    Nearby Similar for Sale

    • $625,000
      2,010 SF

      Commercial Building with Drive-Up Window

      Commercial building suitable for retail, restaurant, or convenience store.
      403 Story Street, Boone, IA 50036
      View Details
    • $399,000
      6,560 SF

      Boone Commercial Property For Sale

      Versatile commercial property with office and warehouse space in Boone.
      2136 Mamie Eisenhower Avenue, Boone, IA 50036
      View Details
    • $229,900
      3,269 SF

      Well-Kept Boone Investment Property

      Five-unit residential income property in Boone, Iowa, near downtown.
      316 Boone Street, Boone, IA 50036
      View Details
    • $125,000

      Golf Course Lot For Sale

      0.6-acre golf course lot with scenic views and privacy.
      1389 231st Road, Boone, IA 50036
      View Details
    • $99,000

      Residential Lot Near Golf Course

      0.33-acre residential lot near Cedar Pointe Golf Course.
      1615 Hancock Drive, Boone, IA 50036
      View Details
    • $32,000

      Residential Lot Ready for Development

      90x90 residential lot in Boone, IA, ready for development.
      1122 18th Street, Boone, IA 50036
      View Details
    • $225,000

      5.34 Acres of Hunting Land

      5.34 acre property ideal for hunting and building.
      1260 BLK 252nd Lane, Boone, IA 50036
      View Details
    • $1,725,000
      23,760 SF

      Parkview Terrace Multifamily Investment Opportunity

      24-unit apartment community in Boone, Iowa with value-add potential.
      1003 Parkway Drive, Boone, IA, 50036
      View Details
    • $50,000
      1 SF

      Industrial Land for Sale

      Gravel surfaced industrial lot suitable for parking or storage.
      1737 Mamie Eisenhower Avenue, Boone, IA, 50036
      View Details
    • $30,000

      Residential Lot in Boone, Iowa

      0.21 acre lot in a desirable Boone neighborhood.
      205 W 8th Street, Boone, IA 50036
      View Details
    • $125,000

      Residential Land in Oak Park

      Land for dream home in Boone, Iowa's Oak Park.
      Oak Park lot: # 18, Boone, IA 50036
      View Details
    • $125,000

      Residential Land in Oak Park

      Land for dream home in Boone, Iowa's Oak Park.
      Oak Park lot: # 21, Boone, IA 50036
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land for building a dream home in Boone, Iowa.
    Where is this residential land & home lot located?
    The property is located at Oak Park lot # 36 Boone, IA.
    What is the asking price?
    The asking price for this property is $70,000.
    What are key features of this property?
    This property features: Prime Location: Unmatched location in Boone, IA.; New Development: Seize the opportunity to build a custom dream home in a new luxurious development.; Convenient Access: Enjoy close proximity (3 miles or less) to work and essential amenities.
    (515) 432-5650
    We can help!
    Listing Contact
    Nate Nerem
    Real Estate License ID: B57254
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!