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Property profile

0 Shr Dr Shell Rock, IA 50670

OFF-MARKET
Land
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12.15 ac lot

Property summary

AI-generated overview

This exceptional offering presents multiple parcels of commercial land in Shell Rock, Iowa, ideal for residential development. The properties boast a combined acreage ranging from 12.15 to 49.15 acres, all zoned for residential use. Located within the Shell Rock River Watershed and along South Shore Drive, one parcel offers scenic views of multiple ponds and proximity to the Shell Rock Country Club. This parcel, identified by PID# 344420020, is situated along County Road 20 and Lakeview Boulevard, surrounded by established neighborhoods. Another parcel, encompassing 12.15 acres and identified by PID# 343260030 and PID# 343260081, is located along County Road 19 and Highway 65, near established neighborhoods and less than two miles from downtown Albert Lea, Minnesota. This parcel offers access to Albert Lea Lake and is surrounded by mature trees. All parcels are situated near three community parks and provide convenient access to Albert Lea Lake and Fountain Lake. The land is priced at $10,000 per acre, presenting a compelling investment opportunity in a thriving community. The city of Albert Lea is known for its affordable cost of living, excellent schools, vibrant local events, numerous parks and trails, and proximity to Myre-Big Island State Park. This location offers a unique blend of natural beauty and convenient access to urban amenities. The parcels are strategically positioned to capitalize on the growing demand for residential properties in this desirable area.

Property profile

Verified
Property type Land
Lot 12.15 ac (529,254 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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