Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2504 Roemer Ave Ottumwa, IA 52501
    Back to Search
    Property profile & analytics

    2504 Roemer Ave, Ottumwa, IA 52501

    View on Map
    • Warehouses
    • 4,300 SF
    • 1.14 lot acres
    For Sale
    $539,000
    View Listing →
    Prime Ottumwa Commercial Property For Sale
    $539,000
    6,000 SF

    Prime Ottumwa Commercial Property

    Versatile 3+ Acre Commercial Space

    Cliffland, IA 52501
    View Listing
    Property ID
    US25-2179581
    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

    • Warehouses

    Property Details for 2504 Roemer Ave

    Year built
    1988
    Construction
    FRAME
    Lot size
    1.14 lot acres
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    7411600074000
    APU
    7411600074000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 3, 2026 $350,000 P & M Properties LLC Kelly Reed Real Estate Lc Warranty Deed $1.4M · First State Bank/lynnville Ia

    Description

    This exceptional Ottumwa commercial property boasts a prime 3.05-acre location and offers a diverse range of income-generating spaces. The property includes 6,000 square feet of climate-controlled, rented storage units, providing a consistent revenue stream. In addition to the storage units, there's a substantial 7,200 square feet of wholesale/commercial space, complete with convenient semi and trailer docks, ideal for various business operations. Further enhancing the property's versatility is an expansive 4,300 square feet of outdoor access storage units, catering to a broader range of storage needs. The property's substantial size and diverse offerings present a unique opportunity for investors and business owners seeking a multi-faceted commercial investment in a thriving location. The existing rental income from the storage units provides a solid foundation for immediate return on investment, while the ample space allows for expansion or diversification of business operations. The strategic location in Ottumwa, Iowa, offers excellent accessibility and visibility, making it an attractive proposition for a wide range of commercial ventures. This property represents a rare opportunity to acquire a well-established and versatile commercial space with significant potential for growth and profitability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $555,000
      6.5%
      $510,000
      7%
      $475,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $470,000
      Market price range: $145k - $470k
      AI Estimate
      $590,000
      Market price range: $145k - $591k

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

    Location Insight

    • Map
    • Local Demand
    City
    Ottumwa
    County
    Wapello
    State
    Iowa
    Longitude
    -92.3808
    Latitude
    41.0092
    CBSA code
    36900
    CBSA name
    OTTUMWA, IA MICROPOLITAN STATISTICAL AREA

    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
    $12,697
    $41,400
    $276,140
    $317,540
    -
    $41,400
    $276,140
    $317,540

    Comparable in this City

    • Value Estimation by Request
      4,000 SF

      1827 2nd St

      MINI-WAREHOUSE, STORAGE
      1827 2nd St, Ottumwa, IA 52501
      View Details
    • Value Estimation by Request
      2,160 SF

      Ottumwa, IA 52501

      MINI-WAREHOUSE, STORAGE
      Ottumwa, IA 52501
      View Details
    • Value Estimation by Request
      4,000 SF

      155 Rochester Rd

      MINI-WAREHOUSE, STORAGE
      155 Rochester Rd, Ottumwa, IA 52501
      View Details
    • Value Estimation by Request
      5,200 SF

      840 Gtwy Dr

      MINI-WAREHOUSE, STORAGE
      840 Gtwy Dr, Ottumwa, IA 52501-2206
      View Details
    • Value Estimation
      $975,000
      8,000 SF

      609 Gtwy Dr

      MINI-WAREHOUSE, STORAGE
      609 Gtwy Dr, Ottumwa, IA 52501
      View Details
    • Value Estimation by Request
      1,650 SF

      1236 Railroad St

      MINI-WAREHOUSE, STORAGE
      1236 Railroad St, Ottumwa, IA 52501
      View Details

    Similar Nearby for Sale

    • $275,000

      Ottumwa Commercial Space with Office

      Versatile commercial space with office and secure fenced lot.
      617 Church St, Ottumwa, IA 52501
      View Details
    • Contact for pricing

      Main Street Commercial Building Opportunity

      Commercial building with shop, office, and apartment on Main Street.
      1711 E Main St, Ottumwa, IA 52501
      View Details
    • Contact for pricing
      21,198 SF

      Downtown Ottumwa Office Space

      21,198 SF office space in downtown Ottumwa, Iowa.
      127 E Main St, Ottumwa, IA 52501
      View Details
    • $3,370,000
      11,400 SF

      New Retail Construction NNN Leases

      New construction retail property with NNN leases in Ottumwa.
      1000 Wildwood Dr, Ottumwa, IA 52501
      View Details
    • $274,500
      14.86 Acres

      Ottumwa Tillable Land For Sale

      14.86 acres of tillable land with high CSR2 rating.
      150Th St, Ottumwa, IA 52501
      View Details
    • $42,500
      1.80 Acres

      Two Acres with Three-Car Garage

      Two acres with a standalone three-car garage in Ottumwa.
      542 Indian Tail Rd, Ottumwa, IA 52501
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,290 SF

      Ottumwa Retail Space with Drive-Thru

      Retail space with drive-thru, near major retailers in Ottumwa.
      1945 Venture Dr, Ottumwa, IA 52501
      View Details
    • Contact for pricing
      1,200 SF

      Prime Retail or Office Space

      Class A retail or office space in Ottumwa's commercial corridor.
      1000 Wildwood Dr, Ottumwa, IA 52501
      View Details
    • Contact for pricing
      1,829 SF

      Prime Corner Retail/Office Space

      Ottumwa retail/office space with high visibility and co-tenancy.
      1255 Theatre Dr, Ottumwa, IA 52501
      View Details
    View Listing
    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.
    2504 Roemer Ave
    Ottumwa, IA 52501
    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
    2504 Roemer Ave, Ottumwa, IA, 52501
    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!