Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    215 Water St Decorah, IA 52101-1803
    Back to Search
    Property profile & analytics

    215 Water St, Decorah, IA 52101-1803

    View on Map
    • Individual retail properties
    • 1,218 SF
    • 0.04 lot acres
    Off-Market
    Property ID
    US25-2002683
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mane Event Hairstyling Inc / Hair Salon / Nail Salon

    Property Details for 215 Water St

    Year built
    1900
    Lot size
    0.04 lot acres
    Property type
    Individual retail properties
    APN
    111643300400
    APU
    111643300400

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 17, 2016 $75,000 Jacqueline M Schmelzer Stephen N Casterton Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Decorah
    County
    Winneshiek
    State
    Iowa
    Longitude
    -91.7839
    Latitude
    43.304

    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
    $2,168
    $27,520
    $90,860
    $118,380
    -
    $27,520
    $90,860
    $118,380

    Comparable in this City

    • Value Estimation by Request
      1,300 SF

      1003 Short St

      BARBER, HAIR SALON
      1003 Short St, Decorah, IA 52101-2421
      View Details
    • Value Estimation
      $590,000
      8,800 SF

      303 Water St

      BARBER, HAIR SALON
      303 Water St, Decorah, IA 52101-1729
      View Details
    • Value Estimation by Request
      3,042 SF

      217 Water St

      BARBER, HAIR SALON
      217 Water St, Decorah, IA 52101-1803
      View Details
    • Value Estimation by Request
      4,560 SF

      402 Water St

      BARBER, HAIR SALON
      402 Water St, Decorah, IA 52101-1732
      View Details
    • Value Estimation by Request
      1,475 SF

      305 College Dr

      BARBER, HAIR SALON
      305 College Dr, Decorah, IA 52101-1306
      View Details
    • Value Estimation by Request
      1,271 SF

      504 Heivly St

      DRY CLEANER
      504 Heivly St, Decorah, IA 52101-1461
      View Details

    Similar Nearby for Sale

    • $1,849,500
      2.88 Acres

      Office and Retail Building

      Multi-use building with finished office space, conference room, break room, and restrooms, supported by shared parking.
      1111 Montgomery St, Decorah, IA 52101
      View Details
    • Contact for pricing

      Commercial Land with Drive-Thru Potential

      Land available for sale, lease, or build to suit.
      1004 Short St, Decorah, IA 52101
      View Details
    • Contact for pricing
      4,500 SF

      Adaptable Commercial Building in Decorah

      4,500 SF commercial building on 0.70 acres.
      702 Short St, Decorah, IA 52101
      View Details
    • Contact for pricing
      131.78 Acres

      Winneshiek County Land Auction

      131.78 acres of diverse land near Decorah, Iowa.
      2536 143Rd Ave, Decorah, IA 52101
      View Details
    • Contact for pricing
      78.31 Acres

      Winneshiek County Farmland and Recreation

      78.31 acres of farmland and recreational ground near Decorah, Iowa.
      258Th St, Decorah, IA 52101
      View Details
    • $649,900
      5.18 Acres

      High-Visibility Decorah Commercial Land

      5 Acres, Hwy 9, Prime Location
      1802 Highway 9, Decorah, IA 52101
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      125,453 SF

      Move-In Ready Office/Retail Space

      Finished office area with conference, break room, restrooms, and flexible cubicle or retail configurations with shared parking.
      1111 Montgomery St, Decorah, IA 52101
      View Details
    • Contact for pricing
      13,700 SF

      Decorah Commercial Rental Space

      Multi-use commercial space in a high-traffic Decorah location.
      1111 Montgomery St, Decorah, IA 52101
      View Details
    • $2,000 /Mo
      13,939 SF

      Prime Decorah Office Space

      High-visibility office space for lease in Decorah, Iowa.
      909 S Mechanic St, Decorah, IA 52101
      View Details
    • $1.00 SF/Yr
      23,087 SF

      Decorah Office/Retail Space Available

      Move-in ready office or retail space in Decorah, Iowa.
      806 Commerce Dr, Decorah, IA 52101
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    215 Water St
    Decorah, IA 52101-1803
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    215 Water St, Decorah, IA, 52101
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!