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Financial
Distress signals
Property profile

1609 Norwood Dr Algona, IA 50511

OFF-MARKET
Retail space
Property ID
US25-1362415
28,000 SF 2.94 ac lot Built 1975
Last sale Aug 2022 · $495,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 4-yr Hold Held for 4 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This exceptional investment opportunity presents a 22,000-square-foot retail property in Algona, Iowa, currently leased to Dollar Tree and Family Dollar under a corporate-guaranteed net lease. The lease commenced May 31, 2023, with a remaining term of approximately 8.5 years, and includes five, 5-year options with $0.50/SF rent increases. The property boasts a strong 7.75% cap rate and a net operating income (NOI) of $92,625, with an asking price of $1,196,000 ($54.36/SF). Built in 1975 and…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2021

What does the county charge?
$15k
Tax billed · 2021
Assessed value · 2023$682k
Assessed land$217k
Assessed improvement$465k
Effective rate2.24%

Value estimate

· Oct 2026
$445k
$401k – $490k
AI approach$670k

Realmo valuation models over county records.

Recently sold

No data for this section
What actually traded nearby?

No cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionKOSSUTH

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency13.4
HVAC Service11.8
Parking Facility11.4

Location

1609 Norwood Dr Algona, IA 50511-1163
County assessor Recorded deeds · 4 transfers Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 9 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
320 State, Algona, IA 50511-2738 $89,000 Oct 2023 11,616 SF
101 State, Algona, IA 50511-2735 $320,000 Jun 2023 11,159 SF
17 State, Algona, IA 50511-2633 $75,000 May 2022 12,752 SF
205 Phillips, Algona, IA 50511 $550,000 Feb 2022 12,200 SF
1811 Hwy 18th E, Algona, IA 50511-1201 $215,000 Jul 2020 7,225 SF
1501 Hwy 169th N, Algona, IA 50511-1003 $2,500,000 Jul 2020 101,644 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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