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    1500 Us-169 Algona, IA 50511

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    1500 Us-169 Algona, IA 50511

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    • Retail properties & Spaces
    • 5,600 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 1500 Us-169

    Property size
    5,600 SF
    Property type
    Retail properties & Spaces

    Description

    Algona Plaza offers 5,600 square feet of vacant retail space for lease in Kossuth County. This multi-tenant property is ideally suited for businesses seeking flexible space options. Four individual units are available, each ranging from 1,400 to 2,800 square feet. The minimum leasable space is 2,800 square feet, with a maximum contiguous space of 2,800 square feet. This presents an excellent opportunity for businesses requiring a substantial footprint or those looking to expand. The entire 5,600 square foot building is currently vacant, providing a unique chance for a single tenant to occupy the entire space, or for multiple businesses to establish themselves in a vibrant retail location. The property's location within Kossuth County offers strong potential for attracting a diverse customer base. This is a turnkey opportunity for businesses seeking immediate occupancy in a well-situated retail center. Contact us today to learn more about leasing options and explore the possibilities of establishing your business at Algona Plaza. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Algona
    County
    Kossuth
    State
    Iowa
    Longitude
    -94.2345
    Latitude
    43.0812

    Comparable in this City

    • Value Estimation
      $995,000
      9,216 SF

      2801 Hwy 18th E

      RETAIL STORES (PERSONAL SERVICES) • 9,216 SF
      2801 Hwy 18th E, Algona, IA 50511-7218
      View Details
    • Value Estimation by Request
      2,820 SF

      516 Phillips St

      RETAIL STORES (PERSONAL SERVICES) • 2,820 SF
      516 Phillips St, Algona, IA 50511-3529
      View Details
    • Value Estimation by Request
      2,276 SF

      116 Thorington St

      RETAIL STORES (PERSONAL SERVICES) • 2,276 SF
      116 Thorington St, Algona, IA 50511
      View Details
    • Value Estimation by Request
      3,000 SF

      122 Dodge St

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      122 Dodge St, Algona, IA 50511-2638
      View Details
    • Value Estimation by Request
      1,320 SF

      121 Dodge St

      RETAIL STORES (PERSONAL SERVICES) • 1,320 SF
      121 Dodge St, Algona, IA 50511-2639
      View Details
    • Value Estimation by Request
      1,346 SF

      103 Phillips St

      RETAIL STORES (PERSONAL SERVICES) • 1,346 SF
      103 Phillips St, Algona, IA 50511-2835
      View Details

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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease in Algona, Iowa.
      1500 Us-169, Algona, IA 50511
      View Details
    • Contact for pricing
      2,636 SF

      Former Restaurant with Drive-Thru

      2,636 SF former restaurant space available for sublease.
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    Algona, IA 50511
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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.

    More about this property
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