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Property profile & analytics
OFF-MARKET
Flex space
1007 2nd W Ave Spencer, IA 51301-3606
Individually Owned
17-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-1061880
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1976
Construction
FRAME
Total area
2,025 SF
Lot
0.21 ac (9,030 SF)
Zoning code
D SPENCER LIG
APN
963607302011
UPID
US25-1061880
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
-
C & D Refrigeration HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Chris H Higgins · 17 yrs held
Chris H Higgins
since 2008
1 recorded transaction
Zoning & alternative use
D SPENCER LIG · Spencer, IA
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 Spencer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spencer 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2023Property tax & assessments
Tax year 2023
Tax billed
$1,466
Tax year 2023
Assessed value
$94,860
Assessed 2024
Previous assessed
$94,860
+0.0% YoY
Effective rate
1.55%
On assessed value
Assessed land
$45,470
Assessed improvement
$49,390
Land market value
$45,470
Improvement market value
$49,390
Total market value
$94,860
Applied tax rate
640.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1976
Construction
FRAME
Heating
NONE
Stories
1
Total area
2,025 SF
Lot
0.21 ac (9,030 SF)
Zoning code
D SPENCER LIG
APN
963607302011
UPID
US25-1061880
Jurisdiction
CLAY
Zoning & alternative use
D SPENCER LIG · Spencer, IAZoning D SPENCER LIG · permitted uses
D SPENCER LIG · Spencer, IA
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
1976
Construction
FRAME
Heating
NONE
Stories
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Chris H Higgins
Individual
Mailing address
719 COUNTRY CLB LN, SPENCER, IA 51301-6145
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 10, 2008
$68,000
Chris H Higgins
Roger A Putnam
Joint Tenancy Deed
related
$68,000 · Farmers Trust And Savings Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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