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    Property profile & analytics

    1610 2nd St Cherokee, IA 51012-2230

    • Retail space
    • 26,307 SF
    • 4.46 lot acres
    OFF-MARKET
    Value Estimation
    $1,705,000
    Last Sale
    Apr 26, 2023
    $1,831,000
    Location Intelligence
    Property ID
    US25-1087146
    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.

    Current Use by Public Records

    • Family Dollar / Clothing Store / Discount Store

    Property Details for 1610 2nd St

    Year built
    2015
    Lot size
    4.46 lot acres
    Property size
    26,307 SF
    Property type
    Retail space
    APN
    722402014
    APU
    722402014

    Description

    This exceptional investment opportunity presents a 25,178 square foot Family Dollar Tree and Dollar General store located on a 4.93-acre corner lot at the intersection of Hwy 4 and Hwy 59 in Cherokee, Iowa. The property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $128,155. Secured by an investment-grade tenant (S&P: BBB), the property features a 10-year net-net lease with approximately 8.2 years remaining, commencing January 31, 2023, and expiring January 31, 2033. The lease includes five, 5-year options with $0.50/SF rent increases during each option period. The tenant, a Fortune 500 company, is responsible for most operating expenses, including routine parking lot maintenance, landscaping, HVAC, insurance, taxes, and utilities. Landlord responsibilities are limited to roof, structure, and parking lot. The property benefits from its strategic location in Cherokee, the county seat, near Western Iowa Tech College, a Hy-Vee distribution center, and Cherokee Regional Medical Center. Cherokee enjoys proximity to Sioux City, Iowa's fourth-largest city, offering a robust regional economy supported by multiple colleges, a major airport, and numerous national retailers. This prime location ensures high visibility and strong tenant performance, making it an attractive investment opportunity with significant long-term potential. The property was built in 2015 and underwent renovations in 2023.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,600,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,995,000
      6.5%
      $2,015,000
      7%
      $1,815,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,870,000
      Geo Method
      $1,775,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,740,000
      Retail
      $1,945,000
      Mixed-Use
      $1,600,000
      Hospitality
      $2,025,000
      Educational
      $2,010,000
      Residential Income
      $1,785,000
      Energy
      $1,680,000
      Income-Based Land
      $2,145,000
      Food Service
      $1,925,000

    Location Insight

    • Map
    • Local Demand
    City
    Cherokee
    County
    Cherokee
    State
    Iowa
    Longitude
    -95.5529
    Latitude
    42.7703

    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
    2023
    $19,632
    $88,680
    $1,190,140
    $1,278,820
    -
    $0.00
    $0.00
    $1,561,730

    Comparable in this City

    • Value Estimation by Request
      1,440 SF

      227 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,440 SF
      227 Main St, Cherokee, IA 51012-1851
      View Details
    • Value Estimation by Request
      2,365 SF

      116 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,365 SF
      116 Main St, Cherokee, IA 51012-1850
      View Details
    • Value Estimation by Request
      2,348 SF

      128 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,348 SF
      128 Main St, Cherokee, IA 51012-1850
      View Details
    • Value Estimation by Request
      4,747 SF

      218 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,747 SF
      218 Main St, Cherokee, IA 51012-1825
      View Details
    • Value Estimation by Request
      4,260 SF

      313 2nd St

      RETAIL STORES (PERSONAL SERVICES) • 4,260 SF
      313 2nd St, Cherokee, IA 51012
      View Details
    • Value Estimation by Request
      4,800 SF

      206 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,800 SF
      206 Main St, Cherokee, IA 51012-1825
      View Details

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    1610 2nd St
    Cherokee, IA 51012-2230
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    Realmo Value Estimation

    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.

    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.

    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
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