Two-Story Mixed-Use Brick
For Sale
$369,900
12 N 4th St, Clear Lake, IA 50428
Retail and office areas share the property with a second-floor apartment and unfinished lower level.
Property Size4,036 SF
Price / SF$91.65
Days on Market67
Property Features for 12 N 4th St
General Information
Standard status
Active
Size
4,036 SF
Property subtype
Commercial
Building Details
Year Built
1920
Listing Agency:
RE/MAX Results
Listed By:
Matt Grohe (515) 988-3726 · License #S43998000
(515) 988-3726
Source:
Desmoineshomesforsale
Added: Aug 22
Changed: Oct 25
Last Checked: Oct 26 at 5:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Results
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1920, this 4,036-square-foot, two-story brick mixed-use building combines retail and office space with a residential component. The commercial portion includes open areas, a conference room, reception area, four offices, two restrooms, and zoned HVAC. A second-floor 2bd, 1ba efficiency apartment features loft-style ceilings and views of downtown.
The property is located at 12 N 4th St in downtown Clear Lake, with a front entrance on N 4th St and an additional alley entrance to the north. The lower level is unfinished and identified as potential storage space. Twenty-four-hour notice is required to view the apartment.
The property is located at 12 N 4th St in downtown Clear Lake, with a front entrance on N 4th St and an additional alley entrance to the north. The lower level is unfinished and identified as potential storage space. Twenty-four-hour notice is required to view the apartment.
Key Highlights
- 4,036‑square‑foot mixed‑use building in downtown Clear Lake
- Two‑story brick construction completed in 1920
- Retail and office layout with open areas, conference room, reception area, four offices, and two restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,190
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,800
$623.8K
Cap Rate 7%
$445,571
$445.6K
Cap Rate 9%
$346,556
$346.6K
Market Conditions
NOI Build-Up for 4,036 SF
Gross rent
$48.4K $12.00/SF
− Vacancy
−$3.9K −$0.96/SF
EGI
$44.6K $11.04/SF
− OpEx
−$13.4K −$3.31/SF
NOI
$31.2K $7.73/SF
Area
Cerro Gordo County, IA
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,800
Cap Rate 7%
$445,571
Cap Rate 9%
$346,556
Alternative Uses
Best Use
Office B
$743.3K
$650.4K – $867.2K
NOI $52,032 @ 7.0% cap · market cap 14.07%
Second Best
Retail
$445.6K
$389.9K – $519.8K
NOI $31,190 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$1.01M
$886.5K – $1.18M
NOI $70,920 @ 7.0% cap · market cap 19.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Explore this area
Business Placement
Demographics for 50428, IA
9,290
Population
5,630
Households
1.7
Avg Household Size
50
Median Age
32%
College-Educated
97%
High-School Grad
117.3 sq mi
ZIP Area
79
Density / Sq Mi
$72,932
Median Household Income
$42,235
Median Earnings
$769
Median Rent
$253,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail and office areas share the property with a second-floor apartment and unfinished lower level.
Where is this mixed-use property located?
The property is located at 12 N 4th St Clear Lake, IA.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 4,036‑square‑foot mixed‑use building in downtown Clear Lake; Two‑story brick construction completed in 1920; Retail and office layout with open areas, conference room, reception area, four offices, and two restrooms
