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Property profile & analytics
OFF-MARKET
Bars & Pubs
116 Market St Ottumwa, IA 52501-2919
Individually Owned
2-yr Hold
Free & Clear
Property ID
US25-1718042
Property summary
AI-generated overview
This exceptional commercial property located at 116 N Market Street in Ottumwa, Iowa, presents a fantastic investment opportunity. The 0.06-acre lot houses a building that previously operated as Pallister Brothers Bar & Taproom, and remains ideally suited for a brewery or bar operation. A detailed inventory list is available upon request for interested parties. The building boasts a strong rental income stream, with two executive apartments located upstairs and a law office occupying the main level
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1863
Construction
LOG
Total area
5,440 SF
Lot
0.06 ac (2,640 SF)
APN
7411240208000
UPID
US25-1718042
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
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
Jerry Anthony Houksee · 2 yrs held
Jerry Anthony Houksee
since 2024
3 recorded transactions
Zoning & alternative use
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 Ottumwa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ottumwa 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 2022Property tax & assessments
Tax year 2022
Tax billed
$3,528
Tax year 2022
Assessed value
$176,240
Assessed 2023
Previous assessed
$141,230
+24.8% YoY
Effective rate
2.00%
On assessed value
Assessed land
$6,600
Assessed improvement
$169,640
Land market value
$6,600
Improvement market value
$169,640
Total market value
$176,240
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1863
Construction
LOG
Heating
NONE
Cooling
YES
Stories
2
Total area
5,440 SF
Lot
0.06 ac (2,640 SF)
APN
7411240208000
UPID
US25-1718042
Jurisdiction
WAPELLO
Zoning & alternative use
Zoning · permitted uses
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
1863
Construction
LOG
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
Jerry Anthony Houksee
Individual
Free & Clear · 2 yrs held
Mailing address
547 LEIGHTON ST, OTTUMWA, IA 52501-4932
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2024
—
Jerry Anthony Houksee
Bryan J Goldsmith
Deed
—
Apr 14, 2017
—
The 1845 Project LLC
Weston Olson Morgan
Quit Claim Deed
related
—
Mar 16, 2017
—
Morgan W Olson
—
Deed
related
$110,550 · Peoples 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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