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Property profile & analytics
OFF-MARKET
Office buildings
215 Grand Ave Spencer, IA 51301-4122
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-1886960
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1930
Total area
13,062 SF
Lot
0.17 ac (7,440 SF)
APN
963618131009
UPID
US25-1886960
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
-
Hemphill Law Office, PLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
M&m Grand Ventures LLC · 2 yrs held
M&m Grand Ventures LLC
since 2023
Last sale
$100,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Spencer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spencer 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$6,138
Tax year 2023
Assessed value
$124,850
Assessed 2024
Previous assessed
$297,080
-58.0% YoY
Effective rate
4.92%
On assessed value
Assessed land
$102,000
Assessed improvement
$22,850
Land market value
$102,000
Improvement market value
$22,850
Total market value
$124,850
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1930
Stories
2
Total area
13,062 SF
Lot
0.17 ac (7,440 SF)
APN
963618131009
UPID
US25-1886960
Jurisdiction
CLAY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1930
Stories
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
M&m Grand Ventures LLC
Entity
Free & Clear · 2 yrs held
Mailing address
621 W 4TH ST, SPENCER, IA 51301-3202
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2025
—
M&m Grand Ventures LLC
—
Deed
related
$380,000 · Northwest Bank
Jan 11, 2024
—
M&m Grand Ventures LLC
—
Deed
related
$80,000 · Farmers Trust & Savings Bank
Oct 30, 2023
$100,000
M&m Grand Ventures LLC
Hemphill Properties LLC
Warranty Deed
—
Feb 3, 2021
—
City Of Spencer
Elaine Ruth George
Warranty Deed
—
Feb 3, 2021
$798,500
City Of Spencer
John Emory Kiger
Warranty Deed
—
May 13, 2019
—
T Johnson Electric LLC
Spencer City Of
Warranty Deed
—
Feb 4, 2019
$1,000
Donald Schukechit
Theodore H Feekes T
Trustees Deed
related
—
Jun 29, 2017
$75,000
Dennis W Vanvickle
Donald J Hemphill
Deed
—
Jul 6, 2015
—
City Of Ruthven
Jason Cother
Quit Claim Deed
related
—
Dec 27, 2013
—
Mary Lee Somers Revocable Living Tr
Mary Lee Somers
Intrafamily Transfer
related
—
Sep 13, 2013
—
Johnnie A Steward
Jacobsen Homes Corp
Intrafamily Transfer
—
Jun 3, 2013
—
Johnnie A Steward
Todd Alan Steward
Intrafamily Transfer
related
—
Aug 23, 2012
—
Hemphill Properites LLC
Donald J Hamphill
Quit Claim 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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