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Property profile & analytics
OFF-MARKET
Estimated value
$220,000
Turn key restaurants
108 Michigan Ave George, IA 51237-7751
Individually Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-1409887
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1919
Construction
FRAME
Total area
4,200 SF
Lot
0.17 ac (7,500 SF)
Zoning code
COMM-SMALL BUSINESS
APN
410000007500000
UPID
US25-1409887
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
-
Pizza Ranch Restaurant Buffet
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$255k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$220k
Owner & transaction history
Bert W Reitsma · 21 yrs held
Bert W Reitsma
since 2005
1 recorded transaction
Zoning & alternative use
COMM-SMALL BUSINESS · George, 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 George submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs George 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
by Request
ML approach
$255,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$220k
Range $198k – $242k · ±10%
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
$52 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$1,050
Tax year 2023
Assessed value
$76,840
Assessed 2024
Previous assessed
$76,840
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$7,500
Assessed improvement
$69,340
Land market value
$7,500
Improvement market value
$69,340
Total market value
$76,840
Applied tax rate
410.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1919
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
4,200 SF
Lot
0.17 ac (7,500 SF)
Zoning code
COMM-SMALL BUSINESS
APN
410000007500000
UPID
US25-1409887
Jurisdiction
LYON
Zoning & alternative use
COMM-SMALL BUSINESS · George, IAZoning COMM-SMALL BUSINESS · permitted uses
COMM-SMALL BUSINESS · George, 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
1919
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Bert W Reitsma
Individual
Mailing address
401 E IOWA AVE, GEORGE, IA 51237-7774
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
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
Jul 5, 2005
$25,000
Bert W Reitsma
Gerald Meyer
Warranty Deed
$25,000 · George State 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.
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