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Property profile & analytics
OFF-MARKET
Estimated value
$1,970,000
Manufacturing properties
1511 Garfield Pl, Mason City, IA 50401-5664
Entity Owned
17-yr Hold
Absentee Owner
Property ID
US25-0581048
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1974
Total area
24,708 SF
Lot
2.57 ac (111,949 SF)
APN
71727600700
UPID
US25-0581048
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
-
Alexander Technologies Industrial Manufacturer Production Facility
-
Advanced Solutions Corporation Engineering Consultant
-
Aeron Advanced Manufacturing Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.21M
Comparable Approach
Comparable
$2.07M
Blend (final)
Blend
$1.97M
Owner & transaction history
Aeron Advanced Manufacturing LLC · 17 yrs held
Aeron Advanced Manufacturing LLC
since 2008
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.2M
+14.2%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,385,000
6.5%
$2,205,000
7%
$2,045,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,930,000
Current use
RESTAURANT
$2,205,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$1,605,000
Change: -17% · Conversion: Moderate
OFFICE BUILDING
$1,585,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.97M
Range $1.77M – $2.17M · ±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
$80 / 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
$34,700
Tax year 2022
Assessed value
$1,227,450
Assessed 2024
Previous assessed
$1,227,450
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$128,080
Assessed improvement
$1,099,370
Land market value
$128,080
Improvement market value
$1,099,370
Total market value
$1,227,450
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1974
Heating
NONE
Buildings
2
Stories
1
Total area
24,708 SF
Lot
2.57 ac (111,949 SF)
APN
71727600700
UPID
US25-0581048
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.9M
RESTAURANT
Est. value
$2.2M
RETAIL STORES
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.6M
INDUSTRIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
OFFICE BUILDING
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
1974
Heating
NONE
Stories
1
Buildings
2
Lot
2.57 ac
Current owner
From public records · entity-resolved
Aeron Advanced Manufacturing LLC
Entity
Mailing address
505 N 3RD ST, FAIRFIELD, IA 52556-2419
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
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
Apr 8, 2022
—
Aeron Advanced Manufacturing LLC
—
Deed
related
$1,480,000 · Midweston Bank
Dec 4, 2008
$700,000
Aeron Advanced Manufacturing LLC
Wrs Holdings LLC
Warranty Deed
$350,000 · Wells Fargo Bank NA
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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