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Property profile & analytics
OFF-MARKET
Warehouses
2808 Hwy Blvd Spencer, IA 51301
Entity Owned
3-yr Hold
Free & Clear
Property ID
US25-1262561
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Construction
FRAME
Total area
7,680 SF
Lot
1.89 ac (82,181 SF)
Zoning code
C-2 HIGHWAY COMMERCIAL
APN
963606126012
UPID
US25-1262561
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
Current use
Occupant on record · Public records
-
Boji Builders, Inc. Construction Company General Contractor
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
Meat Guy Property LLC · 3 yrs held
Meat Guy Property LLC
since 2023
4 recorded transactions
Zoning & alternative use
C-2 HIGHWAY COMMERCIAL · Spencer, IA
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 Spencer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spencer 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
$18,496
Tax year 2023
Assessed value
$765,070
Assessed 2024
Previous assessed
$688,650
+11.1% YoY
Effective rate
2.42%
On assessed value
Assessed land
$274,350
Assessed improvement
$490,720
Land market value
$274,350
Improvement market value
$490,720
Total market value
$765,070
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1990
Construction
FRAME
Heating
NONE
Buildings
3
Stories
1
Total area
7,680 SF
Lot
1.89 ac (82,181 SF)
Zoning code
C-2 HIGHWAY COMMERCIAL
APN
963606126012
UPID
US25-1262561
Jurisdiction
CLAY
Zoning & alternative use
C-2 HIGHWAY COMMERCIAL · Spencer, IA
Zoning C-2 HIGHWAY COMMERCIAL · permitted uses
C-2 HIGHWAY COMMERCIAL · Spencer, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spencer. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Construction
FRAME
Heating
NONE
Stories
1
Buildings
3
Lot
1.89 ac
Current owner
From public records · entity-resolved
Meat Guy Property LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2808 HWY BLVD, SPENCER, IA 51301
Mailing matches property
Yes
Owner-occupied
Yes
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 11, 2023
—
Meat Guy Property LLC
Benjamin Kruse
Warranty Deed
—
Apr 3, 2023
$925,000
Benjamin Kruse
Garcilla LLC
Warranty Deed
$100,000 · Northwest Bank
Oct 6, 2020
$825,000
Garcillallc
Laco Properties LLC
Warranty Deed
$500,000 · Northwest Bank
Nov 13, 2019
—
Laco Properties LLC
Boji Builders Properties
Warranty Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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