Automotive Service and Retail
712 HWY 18 E Clear Lake, IA 50428
For Sale
Under Contract
$468,000
COMMERCIAL - Other - Clear Lake, IA
Property Size3,879 SF
Lot Size0.45 Acres
Price / SF$120.65
Days on Market554
Property Features for 712 HWY 18 E
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active Under Contract
- APN
- 051247702000
- Lot size
- 0.45 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- Parcel 051247702000.
- Tax Annual Amount
- 6414
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1951
- Number of units
- 1
- Building materials
- Block, Metal Siding, Wood Siding
- Architectural style
- Other
Listing Agency:
Century 21 Preferred
(641) 424-9400
Listed By:
Roger Flieth · License #B43478
(641) 420-5635
Added: Jan 16, 2025
Changed: Jun 8
Last Checked: Jul 24 at 5:06AM
MLS# 6324285
Copyright © 2026 NoCoast MLS. 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.
The property is a 3,879-square-foot commercial building on a 0.45-acre lot, configured as a 2-bay service shop connected to approximately 124 feet of sales, office, and showroom space. The layout supports both hands-on service operations and front-facing customer use within the same structure. Off-street parking is available with a generously sized parking lot that serves the building’s mixed service and retail functions.
Located at the corner of Highway 18 East and N. 8th St. in Clear Lake, the site is described as a high-traffic location in town. The property is positioned close to downtown Clear Lake and the lake, with access to nearby routes including Interstate 35 and Avenue of the Saints.
Previously used as a recreational rental business, the space also lends itself to a range of other commercial concepts, including retail, office, and auto sales or service, subject to CH-1 (Commercial Highway Zone) requirements. For operators looking for highway-corridor visibility alongside functional service-bay infrastructure and customer-facing showroom space, this property offers a flexible foundation for compatible uses.
Located at the corner of Highway 18 East and N. 8th St. in Clear Lake, the site is described as a high-traffic location in town. The property is positioned close to downtown Clear Lake and the lake, with access to nearby routes including Interstate 35 and Avenue of the Saints.
Previously used as a recreational rental business, the space also lends itself to a range of other commercial concepts, including retail, office, and auto sales or service, subject to CH-1 (Commercial Highway Zone) requirements. For operators looking for highway-corridor visibility alongside functional service-bay infrastructure and customer-facing showroom space, this property offers a flexible foundation for compatible uses.
Key Highlights
- Prime highway location at the corner of Highway 18 East and N. 8th St. with high traffic
- Large .445 acre lot size
- Versatile CH‑1 zoning allows for many business opportunities
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
Office B
$714.4K
$625.1K – $833.5K
NOI $50,008 @ 7.0% cap · market cap 10.69%
Second Best
Retail
$428.2K
$374.7K – $499.6K
NOI $29,977 @ 7.0% cap · market cap 6.41%
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 Off Market Nearby
- Lake Auto Service — 712 Buddy Holly Pl, Clear Lake, IA 50428
FAQs
What type of property is this?
Auto shop - Corner Highway 18 property with a 2-bay service shop plus sales, office, and showroom space on a sizable lot.
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; Large .445 acre lot size; Versatile CH‑1 zoning allows for many business opportunities
