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Property profile & analytics
OFF-MARKET
Estimated value
$915,000
Warehouses
1186 Illinois Ave Mason City, IA 50401
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-1057843
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2013
Construction
FRAME
Total area
7,200 SF
Lot
1.13 ac (49,223 SF)
APN
70232601100
UPID
US25-1057843
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
-
Mason City Storage Units - Illinois Avenue Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$915k
CAP Approach
CAP
$1.10M
Comparable Approach
Comparable
$641k
Blend (final)
Blend
$915k
Owner & transaction history
Mason City Storage Units LLC · 3 yrs held
Mason City Storage Units LLC
since 2022
Last sale
$900,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$640,000
+53.6%
Industrial (general)
$560,000
+34.5%
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 Mason City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mason City 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
$915,000
ML approach
$915,000
CAP Approach
CAP Return
Estimation
6%
$1,185,000
6.5%
$1,095,000
7%
$1,015,000
Alternative Use
Use
Estimation
RESTAURANT
$640,000
Change: +54% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$560,000
Change: +34% · Conversion: Easy
Blend value · Realmo final
$915k
Range $824k – $1.01M · ±10% · vs last sale $900k (Dec 30 2022)
Last sale anchor
$900k
Dec 30 2022
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
$127 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$10,240
Tax year 2022
Assessed value
$436,080
Assessed 2024
Previous assessed
$436,080
+0.0% YoY
Effective rate
2.35%
On assessed value
Assessed land
$64,200
Assessed improvement
$371,880
Land market value
$64,200
Improvement market value
$371,880
Total market value
$436,080
Applied tax rate
1,001.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2013
Construction
FRAME
Heating
NONE
Buildings
3
Stories
1
Total area
7,200 SF
Lot
1.13 ac (49,223 SF)
APN
70232601100
UPID
US25-1057843
Jurisdiction
CERRO GORDO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$640,000
INDUSTRIAL (GENERAL)
Est. value
$560,000
RESTAURANT
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2013
Construction
FRAME
Heating
NONE
Stories
1
Buildings
3
Lot
1.13 ac
Current owner
From public records · entity-resolved
Mason City Storage Units LLC
Entity
Mailing address
PO BOX 620130, OVIEDO, FL 32762-0130
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2022
$900,000
Mason City Storage Units LLC
William M Rye
Warranty Deed
$675,000 · Two Rivers Bank & Trust
Mar 30, 2007
$62,375
William M Rye
Nancy L Paulsen
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.
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