Sign Up Successful!
You now have access to more from Realmo!
    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

    820 Elm St Creston, IA 50801

    Sponsored
    For Sale
    $128,000

    Historic church, versatile space, large lot.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    357
    This meticulously maintained brick church, situated on a sizable 0.28-acre corner lot in Creston, IA, presents a unique investment opportunity. Located within walking distance of an elementary school and playground, this property boasts a welcoming entryway leading to a chapel area featuring a beautiful altar and well-preserved pews. High ceilings, ceiling fans, and ample windows provide abundant natural light. The sale includes an organ and piano, along with all existing appliances. Upstairs, an office with storage offers additional space. The lower level includes a kitchen with a serving window, adjacent to a large open area easily adaptable into four separate spaces using existing folding partitions. Two bathrooms are also conveniently located on the lower level. A walkout basement opens to a spacious backyard. Accessibility features include a paved ramp and sidewalk, ensuring ease of access for all. The expansive open areas offer considerable versatility, suitable for various uses including community gatherings, daycare facilities, or even residential conversion. The property's prime location and adaptable interior make it an exceptional prospect for a wide range of buyers.

    Property Features for 820 Elm St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    12,197 SF

    We can help!

    Listing Contact
    Dino Groumoutis

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Creston
    County
    Union
    State
    Iowa
    Longitude
    -94.36411
    Latitude
    41.06772

    Nearby Similar for Sale

    • $269,000
      Pending

      Move-In-Ready Townhome in Creston, IA

      Spacious townhome with a full basement and gas fireplace.
      1690F Summit Park Ln, Creston, IA 50801
      View Details
    • $110,900
      3,238 SF

      Creston Fourplex with Detached Garage

      Four-unit property with detached garage and extra lot in Creston.
      609 W Montgomery St, Creston, IA 50801
      View Details
    • $395,000

      Remodeled Commercial Property in Creston

      Remodeled commercial property in prime location with many possibilities.
      203 W Adams St, Creston, IA 50801
      View Details
    • $150,000
      0.24 Acres

      Creston Industrial Property with Workshop

      Industrial property featuring a workshop and implement building in Creston.
      209 N Cedar St, Creston, IA 50801
      View Details
    • $33,500
      2,058 SF

      Income Property in Creston, Iowa

      Duplex or single-family home with original woodwork and investment potential.
      305 S Birch St, Creston, IA 50801
      View Details
    • $248,000
      0.29 Acres

      Commercial Building in Creston, Iowa

      7200 SF commercial building with loading bay and parking.
      503 West Adams St, Creston, IA 50801
      View Details
    • $110,000
      4,184 SF

      Versatile Commercial Property in Creston

      Commercial property with office and industrial space, ideal for businesses.
      206 E Montgomery St, Creston, IA 50801
      View Details
    • $59,900
      Pending

      Creston Commercial Building with Warehouse

      Storefront or warehouse opportunity on Highway 34 in Creston.
      711 New York Ave, Creston, IA 50801
      View Details
    • $69,000

      Creston IA Commercial Building

      Highway 34 storefront & warehouse
      711 New York Ave, Creston, IA 50801
      View Details
    • $395,000

      Prime Creston Commercial Building

      Downtown Creston, IA - 6400 sq ft.
      203 Adams St, Creston, IA 50801
      View Details
    • $74,999
      2,904 SF

      Creston Corner Pub - Huge Potential

      Established Bar & Grill, Prime Location
      108 Elm St, Creston, IA 50801
      View Details
    • $69,000
      7,566 SF

      Creston Commercial Building - Great Potential

      Spacious building, updated systems, prime location.
      209 Montgomery St, Creston, IA 50801
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Historic church, versatile space, large lot.
    Where is this commercial real estate located?
    The property is located at 820 Elm St Creston, IA.
    What is the asking price?
    The asking price for this property is $128,000.
    Request Owner's contact information
    820 Elm St Creston, IA 50801
    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.
    820 Elm St
    Creston, IA 50801
    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
    820 Elm St Creston, IA 50801
    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

    We can help!
    Listing Contact
    Dino Groumoutis
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.