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Property profile & analytics
FOR LEASE
Office buildings
202 1St St SE 112 Mason City, IA 50401
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0479053
For Lease
1 / 8
$225 SF/Yr
202 1St St SE,Unit 112, Mason City, IA 50401
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1925
Total area
22,064 SF
Lot
0.5 ac (21,780 SF)
APN
71015300300
UPID
US25-0479053
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
-
Excel Business Solutions Inc. Computer & Electronic Repair
-
Access Systems Big Box & Wholesale Store
-
Beltone Hearing Centers Hearing Aid Store Deaf Service
-
Sawyer Agency Insurance Agency
-
Legal Aid-Iowa Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.35M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$942k
Blend (final)
Blend
$1.35M
Owner & transaction history
Bric Mc LLC · 2 yrs held
Bric Mc LLC
since 2024
Last sale
$1.4M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+38.9%
Industrial (general)
$1.7M
+21.7%
Retail stores
$1.4M
+1.3%
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
$1,350,000
ML approach
$1,350,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,415,000
Current use
RESTAURANT
$1,965,000
Change: +39% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,725,000
Change: +22% · Conversion: Difficult
RETAIL STORES
$1,435,000
Change: +1% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,280,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.35M
Range $1.22M – $1.49M · ±10% · vs last sale $1.35M (Feb 1 2024)
Last sale anchor
$1.35M
Feb 1 2024
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
$61 / 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
$24,458
Tax year 2022
Assessed value
$1,166,480
Assessed 2024
Previous assessed
$1,166,480
+0.0% YoY
Effective rate
2.10%
On assessed value
Assessed land
$99,100
Assessed improvement
$1,067,380
Land market value
$99,100
Improvement market value
$1,067,380
Total market value
$1,166,480
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1925
Heating
NONE
Stories
2
Total area
22,064 SF
Lot
0.5 ac (21,780 SF)
APN
71015300300
UPID
US25-0479053
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
OFFICE BUILDING Current
Est. value
$1.4M
RESTAURANT
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
RETAIL STORES
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.3M
OFFICE BUILDING Current
RESTAURANT
INDUSTRIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
1925
Heating
NONE
Stories
2
Lot
0.5 ac
Current owner
From public records · entity-resolved
Bric Mc LLC
Entity
Mailing address
135 E B ST, FOREST CITY, IA 50436-2012
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2024
$1,350,000
Bric Mc LLC
Rcp Investment II LLC
Warranty Deed
$1,012,500 · Clear Lake Bank And Trust Co
Dec 3, 2021
$845,500
Rcp Invt LLC
Kendall D Petersen
Warranty Deed
$765,000 · First Citizens Bank
Aug 7, 2008
—
D Kendall Petersen
D Kendall Petersen
Warranty Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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