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    Downtown Mason City Office Suite Title is generated by Realmo AI

    202 1st SE #112, Mason City, IA 50401

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    SINGLE_FAMILY - MASON CITY, IA

    Type:Office
    Property size:
    1,291 SF
    Price / SF:
    $1.16/SF
    Added:
    Nov 21, 2025
    Days on Market:
    199
    Last Refresh:
    Jun 8 at 6:06 am

    Property Features for 202 1st SE #112

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    Z5 - Central Business Dis
    Standard status
    Active
    Size
    1,291 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Lease Only

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1925
    Floors in Building
    2
    Building materials
    Brick Veneer
    Architectural style
    Other

    We can help!

    Listing Contact
    ROGER FLIETH
    ROGER FLIETH

    Listing agent ROGER FLIETH License #B43478

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

    Listing date Nov 21, 2025

    MLS# 250849

    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.

    HighLights

    • Prime downtown location in Mason City with high drive‑by visibility and a private entrance on S. Pennsylvania Ave.
    • Fully finished, 1261 sq ft office suite with 5 private offices, reception area, open area, and storage room.
    • Gross lease includes gas, electric, water, garbage, and common area maintenance/cleaning.
    • Convenient on‑site parking lot plus generous street parking.
    • Fully ADA accessible building and suite.
    • Landlord allows approved signage.

    Overview

    Located in the heart of downtown Mason City, this office space within Petersen Plaza offers a prime location. Suite 112 is a 1261-square-foot, 8-room office suite situated on the main level, providing excellent drive-by visibility and a private walk-in front entrance on S. Pennsylvania Ave, with a second entrance inside the Plaza. The first-class office building features multiple access entrances throughout the Plaza. The building and suite are fully ADA accessible. The suite includes a reception area, five private offices with closable doors, an open area suitable for additional desks or filing, and a storage room. The suite is fully finished and ready for immediate occupancy. On-site parking is available, along with ample street parking. Signage is permitted with landlord approval. High-speed wireless communication service is available. The property is located in a professional office environment. The suite is available for lease at $1500 per month, or $18000 annually, on a gross lease basis. The lease includes gas, electric, water, garbage, and maintenance/cleaning of common areas. Communication services are the tenant's expense, with three provider options available. The property is zoned Z5 - Central Business District.
    Property Profile Location Intelligence

    Current Use by Public Records

    Excel Business Solutions ... Computer & Electronic Repair Access Systems Big Box & Wholesale Store Beltone Hearing Centers Hearing Assistance Earphone Store Sawyer Agency Insurance Agency Legal Aid-Iowa Law Firm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    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
    -93.197548
    Latitude
    43.151198

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    FAQs

    What type of property is this?
    Office units - Prime office space in downtown Mason City with excellent visibility.
    Where is this office units located?
    The property is located at 202 1st SE #112 Mason City, IA.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Prime downtown location in Mason City with **high drive‑by visibility** and a private entrance on S. Pennsylvania Ave.; Fully finished, **1261 sq ft office suite** with 5 private offices, reception area, open area, and storage room.; Gross lease includes gas, electric, water, garbage, and common area maintenance/cleaning.
    (641) 420-5635
    We can help!
    Listing Contact
    ROGER FLIETH
    ROGER FLIETH
    Real Estate License ID: B43478
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    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.

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