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    2501 Broadway St Red Oak, IA 51566-1011

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    2501 Broadway St Red Oak, IA 51566-1011

    View on Map
    • Retail space
    • 39,868 SF
    • 5.35 lot acres
    Off-Market
    Property ID
    US25-1889614
    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
    $1,655,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sears Appliance Repair / Home Appliance Store

    Property Details for 2501 Broadway St

    Year built
    1979
    Lot size
    5.35 lot acres
    Property size
    39,868 SF
    Property type
    Retail space
    APN
    260620200007000
    APU
    260620200007000

    Description

    This exceptional 40,000-square-foot free-standing retail building, situated on a 5.35-acre lot in Red Oak, Iowa, presents a remarkable investment opportunity. Built in 1979, the property boasts a highly desirable location at the corner of Highway 30 and North Broadway Street, offering unparalleled visibility and accessibility. Previously occupied by K-Mart, the single-tenant building is currently vacant and ready for immediate occupancy. Ample parking is available, providing significant potential for expansion to suit a variety of uses. The building's layout includes a former automotive department, easily adaptable into office space, and a convenient rear storage area ideal for deliveries. Located in Montgomery County, this property benefits from its position on Red Oak's main thoroughfare, ensuring maximum exposure to a substantial customer base. The building's size and prominent location make it an ideal candidate for a wide range of retail, commercial, or even light industrial uses. This is a rare chance to acquire a substantial property in a prime location with significant upside potential. The address is 2501 N Broadway St, Red Oak, IA 51566.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,180,000
      Current use
      INDUSTRIAL (GENERAL)
      $2,050,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Red Oak
    County
    Montgomery
    State
    Iowa
    Longitude
    -95.2344
    Latitude
    41.0283

    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
    $24,357
    $133,630
    $679,200
    $812,830
    -
    $133,630
    $679,200
    $812,830

    Comparable in this City

    • Value Estimation
      $1,110,000
      22,950 SF

      2400 4th St

      RETAIL STORES (PERSONAL SERVICES) • 22,950 SF
      2400 4th St, Red Oak, IA 51566-1368
      View Details
    • Value Estimation by Request
      5,030 SF

      503 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 5,030 SF
      503 3rd St, Red Oak, IA 51566-2393
      View Details
    • Value Estimation by Request
      3,780 SF

      512 4th St

      RETAIL STORES (PERSONAL SERVICES) • 3,780 SF
      512 4th St, Red Oak, IA 51566-2329
      View Details
    • Value Estimation by Request
      3,152 SF

      510 4th St

      RETAIL STORES (PERSONAL SERVICES) • 3,152 SF
      510 4th St, Red Oak, IA 51566-2383
      View Details
    • Value Estimation by Request
      3,618 SF

      518 4th St

      RETAIL STORES (PERSONAL SERVICES) • 3,618 SF
      518 4th St, Red Oak, IA 51566-2329
      View Details
    • Value Estimation by Request
      3,680 SF

      303 Broadway St

      RETAIL STORES (PERSONAL SERVICES) • 3,680 SF
      303 Broadway St, Red Oak, IA 51566-2221
      View Details

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      Established Restaurant Business For Sale

      Well-established restaurant business opportunity on a busy main street.
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      Residential Lot in Red Oak

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    Similar Nearby for Lease

    • $1.00 SF/Yr
      396,832 SF

      Red Oak Retail Space Available

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      Restaurant Space on North Broadway

      Turnkey restaurant space with built-in customer base near Highway 34.
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      Red Oak Shared Office Space

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      View Details
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    2501 Broadway St
    Red Oak, IA 51566-1011
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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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