Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    10 Plz Dr Clear Lake, IA 50428-2031
    Back to Search
    Property profile & analytics

    10 Plz Dr Clear Lake, IA 50428-2031

    View on Map
    • Drive through restaurants
    • 2,580 SF
    • 1.18 lot acres
    Off-Market
    Last Sale Mar 21, 2023
    $930,000
    Property ID
    US25-0564756
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Elite Lawn Care & Maintenance of Clear Lake / Landscaping

    Property Details for 10 Plz Dr

    Year built
    1987
    Lot size
    1.18 lot acres
    Property size
    2,580 SF
    Property type
    Drive through restaurants
    APN
    60743000700
    APU
    60743000700

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $745,000
      ML approach
      $765,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Clear Lake
    County
    Cerro Gordo
    State
    Iowa
    Longitude
    -93.3615
    Latitude
    43.1462
    CBSA code
    32380
    CBSA name
    MASON CITY, IA MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $16,636
    $218,000
    $675,650
    $893,650
    -
    $218,000
    $675,650
    $893,650

    Comparable in this City

    • Value Estimation
      $790,000
      5,313 SF

      1302 24th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,313 SF
      1302 24th St, Clear Lake, IA 50428-2098
      View Details
    • Value Estimation
      $590,000
      2,972 SF

      1212 24th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,972 SF
      1212 24th St, Clear Lake, IA 50428-2165
      View Details
    • Value Estimation by Request
      1,194 SF

      910 Us Hwy 18th E

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,194 SF
      910 Us Hwy 18th E, Clear Lake, IA 50428-1443
      View Details
    • Value Estimation
      $835,000
      5,150 SF

      2 Plz Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,150 SF
      2 Plz Dr, Clear Lake, IA 50428-2031
      View Details
    • Value Estimation
      $1,770,000
      13,362 SF

      2411 Us Hwy 18th E

      DRIVE-THRU RESTAURANT, FAST FOOD • 13,362 SF
      2411 Us Hwy 18th E, Clear Lake, IA 50428-2057
      View Details
    • Value Estimation
      $620,000
      3,830 SF

      1204 25th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,830 SF
      1204 25th St, Clear Lake, IA 50428-2091
      View Details

    Similar Nearby for Sale

    • $468,000

      Clear Lake Commercial Property

      Commercial property in Clear Lake with high traffic location.
      712 Us Highway 18 E, Clear Lake, IA 50428
      View Details
    • $499,900
      3,136 SF

      Clear Lake Kennel and Home

      Acreage with kennel, home, and apartment near town.
      815 N 40Th St, Clear Lake, IA 50428
      View Details
    • $468,000
      0.45 Acres

      Clear Lake Commercial Property For Sale

      Commercial property in prime location with high traffic and visibility.
      712 Us Highway 18 E, Clear Lake, IA 50428
      View Details
    • $499,900
      3,136 SF

      Clear Lake Kennel and Acreage

      Acreage with kennel, apartment, and business potential near town.
      815 N 40Th St, Clear Lake, IA 50428
      View Details
    • $468,000
      3,879 SF

      Prime Commercial Property in Clear Lake

      High-traffic location suitable for retail, office, or auto service.
      712 Highway 18 E, Clear Lake, IA 50428
      View Details
    • $775,000

      Versatile Commercial Building, Clear Lake

      6,000 sq ft commercial building with showroom and warehouse.
      402 S 15Th St, Clear Lake, IA 50428
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    10 Plz Dr
    Clear Lake, IA 50428-2031
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    10 Plz Dr, Clear Lake, IA, 50428
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!