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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1906 Keokuk Ave Spirit Lake, IA 51360-1040

    • Grocery and convenience stores
    • 20,807 SF
    • 2.07 lot acres
    OFF-MARKET
    Value Estimations
    $835,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-2170032
    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

    • Grocery and convenience stores

    Property Details for 1906 Keokuk Ave

    Year built
    1985
    Lot size
    2.07 lot acres
    Property size
    20,807 SF
    Property type
    Grocery and convenience stores
    APN
    704326009
    APU
    704326009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $530,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,136,000
      Market price range: $678k - $2.08M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,325,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spirit Lake
    County
    Dickinson
    State
    Iowa
    Longitude
    -95.1067
    Latitude
    43.4216
    CBSA code
    44020
    CBSA name
    SPIRIT LAKE, IA MICROPOLITAN STATISTICAL AREA

    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
    $26,124
    $417,200
    $769,300
    $1,186,500
    -
    $417,200
    $769,300
    $1,186,500

    Comparable in this City

    • Value Estimation
      $525,000
      3,683 SF

      300 18th St

      CONVENIENCE STORE • 3,683 SF
      300 18th St, Spirit Lake, IA 51360-1953
      View Details
    • Value Estimation
      $1,550,000
      31,284 SF

      1500 18th St

      GROCERY, SUPERMARKET • 31,284 SF
      1500 18th St, Spirit Lake, IA 51360-1026
      View Details
    • Value Estimation by Request
      2,610 SF

      1201 18th St

      CONVENIENCE STORE • 2,610 SF
      1201 18th St, Spirit Lake, IA 51360-1017
      View Details
    • Value Estimation
      $1,155,000
      8,532 SF

      2402 17th St

      CONVENIENCE STORE • 8,532 SF
      2402 17th St, Spirit Lake, IA 51360-1047
      View Details
    • Value Estimation
      $595,000
      4,062 SF

      1304 18th St

      CONVENIENCE STORE • 4,062 SF
      1304 18th St, Spirit Lake, IA 51360-1002
      View Details
    • Value Estimation
      $1,085,000
      9,055 SF

      Hwy 71st S

      CONVENIENCE STORE • 9,055 SF
      Hwy 71st S, Spirit Lake, IA 51360
      View Details

    Similar Nearby for Sale

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      2.09 Acres

      Corner Lot in Spirit Lake

      Corner lot permitted for convenience store and gas station.
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    • New
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      Highway 71 Commercial Property

      Prime commercial property on Highway 71 in Spirit Lake, Iowa.
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    • $449,900
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      Versatile Commercial Property in Spirit Lake

      Two insulated, heated buildings with showroom, office, and storage space.
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    • $675,000
      3,569 SF

      Restaurant with Drive-Thru For Sale

      High-traffic location, move-in ready restaurant with drive-thru and equipment.
      2209 Circle Dr W, Spirit Lake, IA 51360
      View Details
    • New
      $249,000
      800 SF

      Turn-Key Restaurant Opportunity in Iowa

      Established restaurant with real estate, equipment included in Spirit Lake.
      100 Hill Ave, Spirit Lake, IA 51360
      View Details
    • Contact for pricing

      Commercial Land For Sale

      Located near Great Lakes Mall, Hy-Vee, and Hy-Vee Wine.
      1405 18Th St, Spirit Lake, IA 51360
      View Details

    Similar Nearby for Lease

    • $1,139 /Mo
      1,139 SF

      Updated Commercial Space in Wahpeton

      Move-in ready commercial space suitable for retail or office use.
      1127 Lakeside Ave, Wahpeton, IA 51360
      View Details
    • $400 /Mo
      140 SF

      Office Space in Spirit Lake

      Office spaces for lease in Spirit Lake, Iowa.
      1390 Lake St, Spirit Lake, IA 51360
      View Details
    • $5,500 /Mo
      3,569 SF

      Spirit Lake Commercial Opportunity

      High-visibility location with drive-thru, ready for immediate occupancy.
      2209 Circle Dr W, Spirit Lake, IA 51360
      View Details
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    1906 Keokuk Ave
    Spirit Lake, IA 51360-1040
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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