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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Hotels
2203 Cir W Dr Spirit Lake, IA 51360-1065
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-1657541
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1990
Total area
19,080 SF
Lot
1.08 ac (47,045 SF)
APN
705326047
UPID
US25-1657541
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$900k
CAP Approach
CAP
$940k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$930k
Owner & transaction history
Saina Spirit Lake LLC · 3 yrs held
Saina Spirit Lake LLC
since 2023
Last sale
$950,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.3M
+69.7%
Retail stores
$1.2M
+57.4%
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 Spirit Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spirit 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
$905,000
ML approach
$900,000
CAP Approach
CAP Return
Estimation
6%
$1,020,000
6.5%
$940,000
7%
$875,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$770,000
Current use
INDUSTRIAL (GENERAL)
$1,310,000
Change: +70% · Conversion: Difficult
RETAIL STORES
$1,215,000
Change: +57% · Conversion: Difficult
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±10% · vs last sale $950k (Jan 10 2023)
Last sale anchor
$950k
Jan 10 2023
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
$49 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$30,382
Tax year 2023
Assessed value
$1,368,000
Assessed 2024
Previous assessed
$1,368,000
+0.0% YoY
Effective rate
2.22%
On assessed value
Assessed land
$286,000
Assessed improvement
$1,082,000
Land market value
$286,000
Improvement market value
$1,082,000
Total market value
$1,368,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1990
Buildings
2
Stories
2
Total area
19,080 SF
Lot
1.08 ac (47,045 SF)
APN
705326047
UPID
US25-1657541
Jurisdiction
DICKINSON
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
HOTEL/MOTEL Current
Est. value
$770,000
INDUSTRIAL (GENERAL)
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
HOTEL/MOTEL Current
INDUSTRIAL (GENERAL)
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
1990
Stories
2
Buildings
2
Lot
1.08 ac
Current owner
From public records · entity-resolved
Saina Spirit Lake LLC
Entity
Mailing address
1405 HWY 71ST DR N, OKOBOJI, IA 51355-7736
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 10, 2023
$950,000
Saina Spirit Lake LLC
Stone Mountain Enterprises LLC
Warranty Deed
$1,800,000 · Cusb Bank
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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