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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Drive through restaurants
10 Plz Dr Clear Lake, IA 50428-2031
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0564756
Property summary
AI-generated overview
This freestanding, single-tenant retail/restaurant building offers 2,580 square feet of space on a 1.18-acre lot in Clear Lake, Iowa. Built in 1987, the one-story building is situated at 10 Plaza Drive, offering excellent visibility and convenient access directly off US-18, a major thoroughfare boasting an average daily traffic count of 7,200 vehicles. The property features a drive-thru lane and ample parking for over 30 vehicles. The entire 2,580 square feet is currently vacant and ready for immediate occupancy. Its location near the intersection of US-18 and I-35 provides exceptional exposure to a high volume of traffic. The property's size and features make it ideal for a variety of restaurant or retail concepts seeking a prominent location in a thriving community. The building is a single-story structure with no elevators. This presents a unique opportunity for businesses looking to establish or expand their presence in Clear Lake, Iowa. The property's high visibility, convenient access, and ample parking make it an attractive option for potential tenants.
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1987
Total area
2,580 SF
Lot
1.18 ac (51,401 SF)
APN
60743000700
UPID
US25-0564756
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Elite Lawn Care & Maintenance of Clear Lake Landscaping
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$765k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$745k
Owner & transaction history
Rcp Investment IV LLC · 3 yrs held
Rcp Investment IV LLC
since 2023
Last sale
$930,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Clear Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clear Lake submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$745,000
ML approach
$765,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$745k
Range $671k – $820k · ±10% · vs last sale $930k (Mar 21 2023)
Last sale anchor
$930k
Mar 21 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$289 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$16,636
Tax year 2022
Assessed value
$893,650
Assessed 2024
Previous assessed
$831,530
+7.5% YoY
Effective rate
1.86%
On assessed value
Assessed land
$218,000
Assessed improvement
$675,650
Land market value
$218,000
Improvement market value
$675,650
Total market value
$893,650
Applied tax rate
2,006.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1987
Heating
NONE
Stories
1
Total area
2,580 SF
Lot
1.18 ac (51,401 SF)
APN
60743000700
UPID
US25-0564756
Jurisdiction
CERRO GORDO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1987
Heating
NONE
Stories
1
Lot
1.18 ac
Current owner
From public records · entity-resolved
Rcp Investment IV LLC
Entity
Mailing address
148 PENFRO DR, IOWA CITY, IA 52246-4928
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2023
$930,000
Rcp Investment IV LLC
Crown Village Kt Ia LLC
Warranty Deed
$940,000 · First Security Bank & Trust
Apr 21, 2017
$1,156,400
Crown Village Kt Ia LLC
Mahad Ltd
Warranty Deed
$765,000 · Bank Of North Carolina
Jun 2, 2011
$50,000
Mahad Ltd
Person Restaurants INC
Warranty Deed
$650,000 · Clear Lake Bank & Trust Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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