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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Flex space
1668 Hwy 61 Wever, IA 52658-9500
Entity Owned
10-yr Hold
Free & Clear
Property ID
US25-2421247
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1994
Construction
FRAME
Total area
7,920 SF
Lot
2.04 ac (88,862 SF)
APN
02-11-10-05-401-0070
UPID
US25-2421247
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$760k
Comparable Approach
Comparable
$872k
Blend (final)
Blend
$815k
Owner & transaction history
Ocean Frott LLC · 10 yrs held
Ocean Frott LLC
since 2016
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$995,000
+95.0%
Medical building
$625,000
+22.3%
Warehouse, storage
$600,000
+17.9%
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 Wever submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wever 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%
$820,000
6.5%
$760,000
7%
$705,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$510,000
Current use
OFFICE BUILDING
$995,000
Change: +95% · Conversion: Difficult
MEDICAL BUILDING
$625,000
Change: +22% · Conversion: Difficult
WAREHOUSE, STORAGE
$600,000
Change: +18% · Conversion: Easy
RESTAURANT
$550,000
Change: +8% · Conversion: Difficult
COMMERCIAL (GENERAL)
$500,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$815k
Range $734k – $897k · ±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
$103 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$7,988
Tax year 2023
Assessed value
$390,380
Assessed 2024
Previous assessed
$390,380
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$50,200
Assessed improvement
$340,180
Land market value
$50,200
Improvement market value
$340,180
Total market value
$390,380
Applied tax rate
90.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1994
Construction
FRAME
Heating
NONE
Stories
1
Total area
7,920 SF
Lot
2.04 ac (88,862 SF)
APN
02-11-10-05-401-0070
UPID
US25-2421247
Jurisdiction
LEE
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
$510,000
OFFICE BUILDING
Est. value
$995,000
MEDICAL BUILDING
Est. value
$625,000
WAREHOUSE, STORAGE
Est. value
$600,000
RESTAURANT
Est. value
$550,000
COMMERCIAL (GENERAL)
Est. value
$500,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
MEDICAL BUILDING
WAREHOUSE, STORAGE
RESTAURANT
COMMERCIAL (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
1994
Construction
FRAME
Heating
NONE
Stories
1
Lot
2.04 ac
Current owner
From public records · entity-resolved
Ocean Frott LLC
Entity
Free & Clear · 10 yrs held
Mailing address
1668 HWY 61, WEVER, IA 52658-9500
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Jan 26, 2016
$375,000
Ocean Frott LLC
Leroy D Mabeus
Warranty Deed
—
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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