Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    121 1st NW St Mount Vernon, IA 52314-1602
    Back to Search
    Property profile & analytics

    121 1st NW St, Mount Vernon, IA 52314-1602

    View on Map
    • Retail space
    • 2,550 SF
    • 0.06 lot acres
    Off-Market
    Last Sale Nov 1, 2023
    $280,000
    Property ID
    US25-0403443
    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 121 1st NW St

    Year built
    1891
    Lot size
    0.06 lot acres
    Property type
    Retail space
    APN
    17-10-3-10-007-0-0000
    APU
    171031000700000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 16, 2025 — Mkg Capital LLC — Deed · related $140k · Mount Vernon Bank & Trust Co
    Nov 19, 2024 — Mkg Capital LLC — Deed · related $200k · Ohnward Bank & Trust Co
    Nov 1, 2023 $280,000 Mkg Capital LLC Blue Creek Photography LLC Warranty Deed $496k · Mount Vernon Bank & Trust Co
    Sep 5, 2017 $175,100 Blue Creek Photography LLC One Hill LLC Warranty Deed $175k · Mount Vernon Bk&tr
    Jul 6, 2007 $170,000 One Hill LLC Morrissey,norma Warranty Deed $170k · Cynthia J Tang
    May 10, 2007 — Norma S Morrissey Niedermayer,bob Grant Deed · related —
    Sep 29, 2006 — Bob Niedermayer Niedermayer,bob Quit Claim Deed · related —
    Sep 29, 2006 $200,000 Bob Neidermayer Morrissey,norma Grant Deed —

    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
    Mount Vernon
    County
    Linn
    State
    Iowa
    Longitude
    -91.4176
    Latitude
    41.9229
    CBSA code
    16300
    CBSA name
    CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

    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
    2022
    $3,578
    $21,100
    $186,900
    $208,000
    -
    $21,100
    $186,900
    $208,000

    Comparable in this City

    • Value Estimation by Request
      11,084 SF

      212 1st SE Ave

      RETAIL STORES (PERSONAL SERVICES)
      212 1st SE Ave, Mount Vernon, IA 52314-1607
      View Details
    • Value Estimation by Request
      2,057 SF

      113 1st NW St

      RETAIL STORES (PERSONAL SERVICES)
      113 1st NW St, Mount Vernon, IA 52314-1602
      View Details
    • Value Estimation by Request
      2,091 SF

      117 1st NW St

      RETAIL STORES (PERSONAL SERVICES)
      117 1st NW St, Mount Vernon, IA 52314-1602
      View Details
    • Value Estimation by Request
      8,656 SF

      113 1st NE St

      RETAIL STORES (PERSONAL SERVICES)
      113 1st NE St, Mount Vernon, IA 52314-1437
      View Details
    • Value Estimation by Request
      1,122 SF

      120 1st SW St

      RETAIL STORES (PERSONAL SERVICES)
      120 1st SW St, Mount Vernon, IA 52314-1601
      View Details
    • Value Estimation by Request
      2,508 SF

      104 2nd NW Ave

      RETAIL STORES (PERSONAL SERVICES)
      104 2nd NW Ave, Mount Vernon, IA 52314-1301
      View Details

    Similar Nearby for Sale

    • $199,000
      2.73 Acres

      Mount Vernon Buildable Lot

      2.73 acre buildable lot near Mount Vernon, Iowa.
      898 Henik Rd, Mount Vernon, IA 52314
      View Details
    • New
      $2,615,000
      70.00 Acres

      Recreational Timber Land with Farmhouse

      70 acres of mature timber with a creek, farmhouse, and cottage, plus outbuildings and proposed buildable lots.
      1000/1006 Irish Ln, Mount Vernon, IA 52314
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    121 1st NW St
    Mount Vernon, IA 52314-1602
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    121 1st NW St, Mount Vernon, IA, 52314
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!