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    24502 Great River Rd Princeton, IA 52768
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    24502 Great River Rd Princeton, IA 52768

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    • Commercial land
    For Sale
    $14,452,103
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    Iowa Certified Site Land For Sale
    $14,452,103

    Iowa Certified Site Land

    399.064 acres zoned Green Business Park in Princeton, Iowa.

    24502 Great River Rd, Princeton, IA 52768
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    Property ID
    US25-1066313
    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

    • Commercial land

    Property Details for 24502 Great River Rd

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Location: The subject property is located approximately 16 miles northeast of Quad Cities International Airport and is within the City of Princeton. Nearby cities include: Le Claire (3 miles south), Bettendorf (4 5/8 miles southwest), and Clinton (9 3/16 miles northeast). Frontage: There is approximately 1/8 mile of road frontage on U.S. Route 67. Major Highways: U.S. Route 67 is the east border, Illinois Route 84 is 5/8 mile east, Interstate 80 is 4 1/4 miles south, Interstate 88 is 8 1/8 miles southeast, Interstate 74 is 9 3/8 miles southwest, and U.S. Route 30 is 10 miles north of the property. Legal Description: A brief legal description indicates The Anderson 400 is located in Part of the East Half of Section 10 and Part of the South Half of Section 11, Township 79 North – Range 5 East (Princeton Township) and Part of the Northwest Quarter of Section 14, Township 79 North – Range 5 East (LeClaire Township), Scott County, Iowa. Total Acres: There are a total of 399.064 acres according to a survey. Soil Types: Major soil types found on this property include: Timula silt loam, Dockery silt loam, Downs silt loam, and Fayette silt loam. Topography: The topography of the subject property is nearly level to very rolling. Mineral Rights: All mineral rights owned by the seller will be transferred in their entirety to the new owner. Possession: Possession will be given at closing, subject to the terms and conditions set forth in a purchase contract. Price Terms: The asking price is $36,215 per acre. A 10% earnest money deposit should accompany any offer to purchase. Financing: Mortgage financing is available from several sources. Names and addresses will be provided upon request. Taxes: The 2021 real estate taxes totaled $10,280.00. The tax parcel numbers are: 951005001, 951021001, 951023001, 951037001, 951039001, 951053001,951055001, 951133002, 951135003, 951149002, 951401003, 951151006, 951403009. Grain Markets: There are a number of grain markets located within 20 miles of The Anderson 400. Zoning: The property is zoned GBP, Green Business Park. Comments: The Anderson 400 is an Iowa Certified Site. Mark Mommsen is a licensed real estate broker in Iowa, Illinois, and Wisconsin.

    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
    Princeton
    County
    Scott
    State
    Iowa
    Longitude
    -90.3411
    Latitude
    41.67742
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    24502 Great River Rd
    Princeton, IA 52768
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    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
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