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Property profile & analytics
OFF-MARKET
Turn key restaurants
2209 Cir W Dr Spirit Lake, IA 51360-1065
Entity Owned
3-yr Hold
Free & Clear
Property ID
US25-1903839
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1979
Total area
3,569 SF
Lot
1.41 ac (61,507 SF)
APN
705326059
UPID
US25-1903839
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Spirit Lake Properties LLC · 3 yrs held
Spirit Lake Properties LLC
since 2022
Last sale
$475,000
4 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 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
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
$13,022
Tax year 2023
Assessed value
$627,900
Assessed 2024
Previous assessed
$627,900
+0.0% YoY
Effective rate
2.07%
On assessed value
Assessed land
$331,700
Assessed improvement
$296,200
Land market value
$331,700
Improvement market value
$296,200
Total market value
$627,900
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1979
Stories
1
Total area
3,569 SF
Lot
1.41 ac (61,507 SF)
APN
705326059
UPID
US25-1903839
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
Building & site characteristics
From public records
Year built
1979
Stories
1
Lot
1.41 ac
Current owner
From public records · entity-resolved
Spirit Lake Properties LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 287, SPIRIT LAKE, IA 51360-0287
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2022
$475,000
Spirit Lake Properties LLC
Dcr77ia LLC
Special Warranty Deed
—
Nov 16, 2021
—
Dcr71a LLC
Dcr7s11l LLC
Quit Claim Deed
related
—
Aug 24, 2021
—
Dcr7s1il LLC
Faa Enterprises INC
Warranty Deed
—
Sep 6, 2016
—
Faa Enterprises INC
—
Deed
related
$4,328,052 · Gnb 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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