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Property profile & analytics
OFF-MARKET
Office buildings
110 4th St Spencer, IA 51301-3858
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0687299
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1958
Total area
14,640 SF
Lot
0.44 ac (18,971 SF)
Zoning code
CBD CENTRAL B
APN
963618104002
UPID
US25-0687299
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
-
Bill Phelps, DDS Dental Office
-
Oak Crete Apartments Apartment Building
-
Sackett | A Goosmann Law Firm Law Firm
-
Phelphs G William DDS Dental Office
-
Clay County Abstract, LLC Title Company
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
Pixow Real Estate LLC · 2 yrs held
Pixow Real Estate LLC
since 2024
Last sale
$350,000
7 recorded transactions
Zoning & alternative use
CBD CENTRAL B · 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
$10,189
Tax year 2023
Assessed value
$359,120
Assessed 2024
Previous assessed
$359,120
+0.0% YoY
Effective rate
2.84%
On assessed value
Assessed land
$95,260
Assessed improvement
$263,860
Land market value
$95,260
Improvement market value
$263,860
Total market value
$359,120
Applied tax rate
642.0000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1958
Heating
NONE
Stories
2
Total area
14,640 SF
Lot
0.44 ac (18,971 SF)
Zoning code
CBD CENTRAL B
APN
963618104002
UPID
US25-0687299
Jurisdiction
CLAY
Zoning & alternative use
CBD CENTRAL B · Spencer, IAZoning CBD CENTRAL B · permitted uses
CBD CENTRAL B · 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
1958
Heating
NONE
Stories
2
Lot
0.44 ac
Current owner
From public records · entity-resolved
Pixow Real Estate LLC
Entity
Mailing address
1125 W 18TH AVE W, SPENCER, IA 51301-2726
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2024
—
Jhkh Holdings INC
—
Deed
related
$556,689 · Pioneer Bank
May 29, 2024
$350,000
Pixow Real Estate LLC
The Arnold Building Partnership
Warranty Deed
$280,000 · Northwest Bank
Aug 21, 2023
—
Jhkh Holdings INC
—
Deed
related
$756,695 · Pioneer Bank
Sep 15, 2022
—
Jhkh Holdings INC
—
Deed
related
$50,000 · Pioneer Bank
Jun 25, 2021
—
Jhkh Holdings INC
—
Deed
related
$2,224,000 · Pioneer Bank
Feb 2, 2021
$2,075,000
Jhkh Holdings LLC
Barry Deloss
Warranty Deed
$2,224,000 · Pioneer Bank
Oct 27, 2016
$167,500
George William Phelps
Michael Kevin Chapman
Warranty Deed
—
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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