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    1131 Court Ave Marengo, IA 52301

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    1131 Court Ave Marengo, IA 52301

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    • Retail space
    • 8,320 SF
    • 0.22 lot acres
    For Sale
    $255,000
    View Listing →
    Spacious Retail Storefront on Square For Sale
    $255,000
    8,320 SF

    Spacious Retail Storefront on Square

    Former retail store with excellent visibility and street parking.

    1131 Court Avenue, Marengo, IA 52301
    View Listing
    Property ID
    US25-0591655
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 1131 Court Ave

    Year built
    2000
    Lot size
    0.22 lot acres
    Property size
    8,320 SF
    Property type
    Retail space
    APN
    7328-1507-4
    APU
    732815074

    Description

    This exceptional commercial property, located at 1131 Court Avenue in the heart of Marengo, Iowa, presents a unique opportunity for a diverse range of businesses. Boasting a prominent location on the town square, this former retail store offers unparalleled visibility and convenient street parking, ensuring easy access for customers and employees. The property sits on a 0.22-acre lot and features a spacious, open floor plan, providing maximum flexibility for customization. The adaptable layout allows for a multitude of uses, making it ideal for retail operations, office spaces, or other commercial ventures. The absence of internal walls allows for creative design and efficient space planning to meet the specific requirements of any business. The high foot traffic associated with the central location promises significant exposure and potential for customer interaction. This property represents a rare chance to establish a thriving business in a vibrant and accessible location. The asking price is $275,000. The square footage is not currently specified. This property is ready for immediate occupancy and offers a strong foundation for future success. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Marengo
    County
    Iowa
    State
    Iowa
    Longitude
    -92.0705
    Latitude
    41.8001

    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
    2023
    $5,694
    $28,970
    $164,950
    $193,920
    -
    $28,970
    $164,950
    $193,920

    Comparable in this City

    • Value Estimation
      $1,715,000
      10,660 SF

      1042 Marengo Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,660 SF
      1042 Marengo Ave, Marengo, IA 52301-1539
      View Details
    • Value Estimation
      $905,000
      13,950 SF

      284 Western Ave

      RETAIL STORES (PERSONAL SERVICES) • 13,950 SF
      284 Western Ave, Marengo, IA 52301-1220
      View Details
    • Value Estimation by Request
      14,136 SF

      394 Western Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,136 SF
      394 Western Ave, Marengo, IA 52301-1216
      View Details
    • Value Estimation by Request
      10,411 SF

      104 Washington St

      RETAIL STORES (PERSONAL SERVICES) • 10,411 SF
      104 Washington St, Marengo, IA 52301-1545
      View Details
    • Value Estimation by Request
      1,848 SF

      1199 Ct Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,848 SF
      1199 Ct Ave, Marengo, IA 52301-1466
      View Details
    • Value Estimation by Request
      6,444 SF

      499 Ct Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,444 SF
      499 Ct Ave, Marengo, IA 52301-1467
      View Details

    Similar Nearby for Sale

    • $255,000
      8,320 SF

      Spacious Retail Storefront on Square

      Former retail store with excellent visibility and street parking.
      1131 Court Ave, Marengo, IA 52301
      View Details
    • Contact for pricing
      0.36 Acres

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    • $275,000
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      1131 Court Ave, Marengo, IA 52301
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    View Listing
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    Marengo, IA 52301
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    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
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