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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Warehouses
1208 4th SW Ave Spencer, IA 51301-5807
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0661546
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2006
Construction
FRAME
Total area
4,356 SF
Lot
2.91 ac (126,760 SF)
Zoning code
C-2 HIGHWAY COMMERCIAL
APN
963619101012
UPID
US25-0661546
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
-
Mr B's Flooring Carpet & Flooring Store Hardware & Home Improvement
-
Nielsen's Appliance and Tire Big Box & Wholesale Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$675k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$540k
Blend (final)
Blend
$630k
Owner & transaction history
Jtaa LLC · 3 yrs held
Jtaa LLC
since 2023
Last sale
$600,000
1 recorded transaction
Zoning & alternative use
C-2 HIGHWAY COMMERCIAL · 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
Method
Estimation
Statistic approach
$720,000
ML approach
$675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$630k
Range $567k – $693k · ±10% · vs last sale $600k (Jul 3 2023)
Last sale anchor
$600k
Jul 3 2023
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
$145 / 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
$19,184
Tax year 2023
Assessed value
$772,880
Assessed 2024
Previous assessed
$711,560
+8.6% YoY
Effective rate
2.48%
On assessed value
Assessed land
$251,880
Assessed improvement
$521,000
Land market value
$251,880
Improvement market value
$521,000
Total market value
$772,880
Applied tax rate
685.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2006
Construction
FRAME
Heating
NONE
Buildings
2
Stories
1
Total area
4,356 SF
Lot
2.91 ac (126,760 SF)
Zoning code
C-2 HIGHWAY COMMERCIAL
APN
963619101012
UPID
US25-0661546
Jurisdiction
CLAY
Zoning & alternative use
C-2 HIGHWAY COMMERCIAL · Spencer, IA
Zoning C-2 HIGHWAY COMMERCIAL · permitted uses
C-2 HIGHWAY COMMERCIAL · Spencer, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spencer. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2006
Construction
FRAME
Heating
NONE
Stories
1
Buildings
2
Lot
2.91 ac
Current owner
From public records · entity-resolved
Jtaa LLC
Entity
Mailing address
2522 HWY 18, SPENCER, IA 51301-7468
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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 3, 2023
$600,000
Jtaa LLC
Bcm Partnership
Warranty Deed
$597,500 · 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.
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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