Commercial Property in Clear
712 HWY 18 E Clear Lake, IA 50428
712 HWY 18 E, Clear Lake, IA, 50428
$468,000
For Sale
Under Contract
$468,000
COMMERCIAL - CLEAR LAKE, IA
Property Size3,879 SF
Lot Size0.44 Acres
Price / SF$120.65
Days on Market551
Property Features for 712 HWY 18 E
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C-CBD/C BUS COM
- Standard status
- Active Under Contract
- Size
- 3,879 SF
- Lot size
- 0.44 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- parcel 051247702000
- Tax Annual Amount
- 6414
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1951
- Floors in Building
- 1
- Building materials
- Block, Frame
- Roof type
- Metal
- Architectural style
- Other
Listing agency
CENTURY 21 PREFERRED
(641) 424-9400
Listed by
ROGER FLIETH · License #B43478
(641) 420-5635
Added: Jan 16, 2025 Updated: Jun 8 at 5:38PM Checked: Jul 21 at 12:06PM
MLS# 250032
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.
Investment Insights
Based on property information with market context.
This commercial property is located in a high-traffic area of Clear Lake, at the corner of Highway 18 East and N. 8th St. The property includes a 3,879 square foot building on a 0.445-acre lot. The building features a 2-bay service shop connected to 124 x 24 feet of sales, office, and showroom space. A generously sized parking lot is also included. The property was most recently used as a recreational rental business, offering canoes, kayaks, bikes, pontoons, and other recreational equipment. It is suitable for retail, office, or auto sales and service. The location on Highway 18 makes it a prime opportunity for a complete rebuild and new business. The property is close to downtown Clear Lake and the lake, with good connections to Interstate 35 and Avenue of the Saints. The C-CBD/C BUS COM zoning allows for much opportunity and flexibility.
Key Highlights
- Prime highway location at the corner of Highway 18 East and N. 8th St. with high traffic volume.
- Large .445 acre lot offering potential for rebuild or expansion.
- Versatile 3879 sq. ft. building suitable for retail, office, auto sales/service, or other businesses.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.5k | $12.00 |
| − Vacancy | −$3.7k | −$0.96 |
| EGI | $42.8k | $11.04 |
| − OpEx | −$12.8k | −$3.31 |
| NOI | $30.0k | $7.73 |
3,879 SF · lease $12.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$428.2K
$374.7K – $499.6K
NOI $29,977 @ 7.0% cap · market cap 6.41%
Second Best
Industrial
$321.2K
$281.0K – $374.7K
NOI $22,483 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$973.7K
$852.0K – $1.14M
NOI $68,161 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Auto shops
Similar For Sale Nearby
Similar Off Market Nearby
- Lake Auto Service — 712 Buddy Holly Pl, Clear Lake, IA 50428
FAQs
What type of property is this?
Auto shop - High-traffic location suitable for retail, office, or auto services.
Where is this auto shop located?
The property is located at 712 HWY 18 E Clear Lake, IA.
What is the asking price?
The asking price for this property is $468,000.
What are key features of this property?
This property features: Prime highway location at the corner of Highway 18 East and N. 8th St. with high traffic volume.; Large .445 acre lot offering potential for rebuild or expansion.; Versatile 3879 sq. ft. building suitable for retail, office, auto sales/service, or other businesses.
