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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Warehouses
2101 2nd S Ave, Clear Lake, IA 50428-2200
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US25-0620466
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1980
Total area
6,600 SF
Lot
1.51 ac (65,776 SF)
APN
61828502100
UPID
US25-0620466
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
-
Barnhart Crane and Rigging Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$715k
Comparable Approach
Comparable
$467k
Blend (final)
Blend
$605k
Owner & transaction history
Granite Properties LLC
Granite Properties LLC
since 2026
Last sale
$650,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$590,000
+6.9%
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 Clear Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clear Lake 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%
$775,000
6.5%
$715,000
7%
$665,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$550,000
Current use
RESTAURANT
$590,000
Change: +7% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$515,000
Change: -6% · Conversion: Easy
OFFICE BUILDING
$465,000
Change: -15% · Conversion: Difficult
RETAIL STORES
$465,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$605k
Range $545k – $666k · ±10% · vs last sale $650k (Jan 16 2026)
Last sale anchor
$650k
Jan 16 2026
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
$92 / 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
$6,430
Tax year 2022
Assessed value
$357,840
Assessed 2024
Previous assessed
$357,840
+0.0% YoY
Effective rate
1.80%
On assessed value
Assessed land
$120,400
Assessed improvement
$237,440
Land market value
$120,400
Improvement market value
$237,440
Total market value
$357,840
Applied tax rate
2,006.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1980
Heating
NONE
Stories
1
Total area
6,600 SF
Lot
1.51 ac (65,776 SF)
APN
61828502100
UPID
US25-0620466
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
WAREHOUSE, STORAGE Current
Est. value
$550,000
RESTAURANT
Est. value
$590,000
INDUSTRIAL (GENERAL)
Est. value
$515,000
OFFICE BUILDING
Est. value
$465,000
RETAIL STORES
Est. value
$465,000
WAREHOUSE, STORAGE Current
RESTAURANT
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
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
1980
Heating
NONE
Stories
1
Lot
1.51 ac
Current owner
From public records · entity-resolved
Granite Properties LLC
Entity
Mailing address
1306 N 16TH ST W, CLEAR LAKE, IA 50428-1195
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2026
$650,000
Granite Properties LLC
James D Nelson Revocable Trust
Warranty Deed
$520,000 · Central Bank
Feb 2, 2009
—
James D Nelson
James D Nelson
Intrafamily Transfer
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.
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