Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Turn-Key Restaurant in Downtown Garner Title is generated by Realmo AI

    405 State St, Garner, IA 50438

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $175,000

    Former Pizza Ranch location with complete commercial kitchen and dining.

    Property size:
    4,500 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $38/SF
    Added:
    Dec 23, 2025
    Days on Market:
    155
    Last Refresh:
    Jan 11 at 12:13 pm

    Property Features for 405 State St

    General Information

    Standard status
    Active
    Size
    4,500 SF
    Lot size
    0.19 Acres

    We can help!

    Listing Contact
    Jared Hottle
    Jared Hottle

    Listing agent Jared Hottle License #S68688000

    Listing office Berkshire Hathaway Home Services One Realty Centre

    Listing date Dec 23, 2025

    Source Exprealty

    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 Berkshire Hathaway Home Services One Realty Centre

    HighLights

    • Turn‑key restaurant opportunity with COMPLETE COMMERCIAL KITCHEN and LARGE DINING AREA.
    • High traffic location: over 4,500 cars/day plus excellent foot traffic on State Highway 18.
    • Strategic location in downtown Garner, between Mason City, Clear Lake, and Forest City.
    • Flexible use: operate full restaurant, split operation/rental, or pure investment.
    • Located in the county seat with strong community support and active Chamber.
    • High‑income area: Garner boasts 3,000+ residents with $86,000+ average income.

    Overview

    This is a turn-key restaurant opportunity located in downtown Garner, Iowa. The former Pizza Ranch location features over 4,500 square feet of space, including a complete commercial kitchen, a large dining area, multiple party rooms, and office space. The property benefits from high visibility, with over 4,500 cars per day and significant foot traffic on State Highway 18. Garner has over 3,000 residents with an average income exceeding $86,000. The property's location as a county seat ensures consistent traffic. The property offers flexible use options, including operating as a full restaurant, splitting the operation for rental income, or utilizing it as a pure investment. The location is strategically positioned between Mason City, Clear Lake, and Forest City. The property is ready for immediate operation and could suit a restaurateur, entrepreneur, or investor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Garner
    County
    Hancock
    State
    Iowa
    Longitude
    -93.6019
    Latitude
    43.1013

    Nearby Similar for Sale

    • $149,900
      4,500 SF

      Turn-Key Restaurant in Downtown Garner

      Former Pizza Ranch location with complete commercial kitchen and dining area.
      405 State Street, Garner, IA 50438
      View Details
    • $350,000
      5,000 SF

      Storage Facility with Income Potential

      33 storage units, office, and parking in Garner, Iowa.
      320 Division Street, Garner, IA 50438
      View Details
    • $414,500
      1,470 SF

      New Construction Twin Home

      Spacious 1,470 sq. ft. twin home with 3-stall garage.
      290 Fuller Drive, Garner, IA 50438
      View Details

    FAQs

    What type of property is this?
    Turn key restaurant - Former Pizza Ranch location with complete commercial kitchen and dining.
    Where is this turn key restaurant located?
    The property is located at 405 State St Garner, IA.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Turn‑key restaurant opportunity with COMPLETE COMMERCIAL KITCHEN and LARGE DINING AREA.; High traffic location: over 4,500 cars/day plus excellent foot traffic on State Highway 18.; Strategic location in downtown Garner, between Mason City, Clear Lake, and Forest City.
    (319) 288-5382
    We can help!
    Listing Contact
    Jared Hottle
    Jared Hottle
    Real Estate License ID: S68688000
    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

    Thank You for Inquiry
    405 State St, Garner, IA, 50438-1334
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!