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Property profile & analytics
OFF-MARKET
Estimated value
$1,355,000
Warehouses
1401 6th S Ave, Clear Lake, IA 50428-2632
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US25-0642488
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1977
Total area
10,500 SF
Lot
13.95 ac (607,662 SF)
APN
61833000200
UPID
US25-0642488
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
-
35North Rentals Tech Support Center Rental Equipment Company
-
Renovo Media Group Film Production
-
Kingland (Bike/Boat/Book/etc) Store Corporate Office
-
SWS Financial Services Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.14M
Comparable Approach
Comparable
$1.39M
Blend (final)
Blend
$1.36M
Owner & transaction history
Kingland Properties LLC · 7 yrs held
Kingland Properties LLC
since 2018
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$935,000
+6.9%
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 Clear Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clear Lake 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,230,000
6.5%
$1,135,000
7%
$1,055,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$875,000
Current use
RESTAURANT
$935,000
Change: +7% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$820,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$1.36M
Range $1.22M – $1.49M · ±10%
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
$129 / 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
$130,576
Tax year 2022
Assessed value
$5,770,780
Assessed 2024
Previous assessed
$5,770,780
+0.0% YoY
Effective rate
2.26%
On assessed value
Assessed land
$408,750
Assessed improvement
$5,362,030
Land market value
$408,750
Improvement market value
$5,362,030
Total market value
$5,770,780
Applied tax rate
2,006.0000
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
1977
Heating
NONE
Buildings
2
Stories
1
Total area
10,500 SF
Lot
13.95 ac (607,662 SF)
APN
61833000200
UPID
US25-0642488
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
WAREHOUSE, STORAGE Current
Est. value
$875,000
RESTAURANT
Est. value
$935,000
INDUSTRIAL (GENERAL)
Est. value
$820,000
WAREHOUSE, STORAGE Current
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
1977
Heating
NONE
Stories
1
Buildings
2
Lot
13.95 ac
Current owner
From public records · entity-resolved
Kingland Properties LLC
Entity
Mailing address
1401 6TH AVE S, CLEAR LAKE, IA 50428-2632
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Aug 21, 2018
—
Kingland Properties LLC
—
Deed
related
$4,675,000 · Clear Lake Bank & Trust
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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