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

    11-15 2Nd St NE Mason City, IA 50401

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Blank canvas building in Mason City's Historic Downtown.

    Property Features for 11-15 2Nd St NE

    General Information

    Standard status
    Active

    Building Details

    Year built
    1919

    We can help!

    Listing Contact
    Joe Chodur
    Source: Exitrealty

    Listing Agency: HOLTZ REALTY Listing Agent: Joe Chodur

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Historic Downtown Building: Blank Canvas

    This building presents a unique opportunity for establishing a presence in Mason City's Historic Downtown area. Situated adjacent to a new apartment complex, the property offers various possibilities. The building features a main floor and a second floor, each measuring 2,420 square feet, along with a basement that also provides 2,420 square feet of space. The assessed value of the property is $63,760.00.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Mason City
    County
    Cerro Gordo
    State
    Iowa
    Longitude
    -93.20015
    Latitude
    43.153422

    Nearby Similar for Sale

    • $374,000
      3,055 SF

      Energy-Efficient Office Building with Expansion Potential

      Upscale office building with self-produced energy and expansion options.
      524 Village Green Dr, Mason City, IA 50401
      View Details
    • $435,000
      5,751 SF

      Mason City Commercial Building For Sale

      Former equipment dealership on 1.27 acres in high-traffic location.
      4499 4 Ave SW, Mason City, IA 50401
      View Details
    • $374,000
      3,055 SF

      Upscale Office Park with Unique Features

      Energy-efficient office building with potential for expansion on 2.17 acres.
      524 Village Green Dr, Mason City, IA 50401
      View Details
    • $1,200,000
      5,858 SF

      Remodeled Restaurant Building For Sale

      Leased restaurant building in prime location with modern updates.
      2960 4 Ave SW, Mason City, IA 50401
      View Details
    • $350,000
      3,700 SF

      Mason City Office Investment Opportunity

      Office property with two units, one leased, private parking.
      2013 4 Ave SW, Mason City, IA 50401
      View Details
    • $450,000
      6,634 SF

      Mason City Office Building For Sale

      Spacious office building near Mercy Hospital with subdivision potential.
      1408 6Th St SW, Mason City, IA 50401
      View Details
    • $575,000
      12,608 SF

      Mason City Commercial Showroom/Office

      Over 10,000 sq ft showroom, offices, and conference room.
      641 S Delaware Ave, Mason City, IA 50401
      View Details
    • Contact for pricing
      1,291 SF

      Prime Downtown Mason City Office

      First-class office space in the heart of downtown Mason City.
      202 1St St SE, Mason City, IA 50401
      View Details
    • $875,000
      3,833 SF

      Equestrian Property with Indoor Arena

      Rare equestrian estate with indoor arena, stalls, and ranch home.
      3511 19Th St SW, Mason City, IA 50401
      View Details
    • $318,000
      6,000 SF

      Retail and Warehouse Space Available

      Retail and warehouse space in a high-traffic location.
      21-23 5Th St SW, Mason City, IA 50401
      View Details
    • $425,000
      8,520 SF

      Spacious Industrial Property on Jefferson

      8,500 SF commercial property on 2.17 acres in Mason City.
      708 S Jefferson Ave, Mason City, IA 50401
      View Details
    • $350,000
      8,016 SF

      Highway 65 Commercial Property

      Commercial property on 2.14 acres with highway frontage.
      3709 S Federal Ave, Mason City, IA 50401
      View Details

    FAQs

    What type of property is this?
    Storefront property - Blank canvas building in Mason City's Historic Downtown.
    Where is this storefront property located?
    The property is located at 11-15 2Nd St NE Mason City, IA.
    What are key features of this property?
    This property features: - Blank canvas opportunity for development in Mason City's Historic Downtown.; - Large square footage: Main Floor (2,420 sqft), 2nd Floor (2,420 sqft), Basement (2,420 sqft).; - Located next door to a new apartment complex.
    Request Owner's contact information
    11-15 2Nd St NE Mason City, IA 50401
    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.
    11-15 2Nd St NE
    Mason City, IA 50401
    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
    11-15 2Nd St NE Mason City, IA 50401
    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
    Joe Chodur
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!