Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    323 E Reed St Red Oak, IA 51566

    • Banks
    • 14,729 SF
    • 0.77 lot acres
    For Sale
    View listing
    $350,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-2125300
    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.

    Current Use by Public Records

    • U.S. Bank Branch / Bank
    • US Bank Mortgage / Mortgage Broker
    • U.S. Bank ATM / Atm

    Property Details for 323 E Reed St

    Year built
    1880
    Lot size
    0.77 lot acres
    Property size
    14,729 SF
    Property type
    Banks
    APN
    600628162017000
    APU
    600628162017000

    Description

    This exceptional investment opportunity presents a historic two-story bank building located at 323 E Reed St in Red Oak, Iowa. Boasting 7,655 square feet, this single-unit property is situated on a highly visible corner lot directly across from the Montgomery County Courthouse, offering unparalleled exposure and accessibility. Built in 1880 and renovated in 1960, the building presents a blend of historical charm and updated functionality. The asking price is $350,000, translating to a price per square foot of $45.72. The property includes a dedicated on-site parking lot, a significant advantage in a high-traffic area. This prime location, combined with the building's substantial size and historical significance, makes it an ideal investment for a variety of uses. The property's convenient location and ample parking make it an attractive option for businesses seeking high visibility and accessibility. The building's history and unique character offer a compelling opportunity for adaptive reuse or continued operation as a financial institution. Serious inquiries are encouraged to explore the potential of this remarkable property. The zip code is 51566.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Red Oak
    County
    Montgomery
    State
    Iowa
    Longitude
    -95.2284
    Latitude
    41.0102

    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
    $14,903
    $37,370
    $303,360
    $340,730
    -
    $37,370
    $303,360
    $340,730

    Comparable in this City

    • Value Estimation
      $290,000
      3,608 SF

      2100 Commerce Dr

      FINANCIAL BUILDING • 3,608 SF
      2100 Commerce Dr, Red Oak, IA 51566-1298
      View Details
    • Value Estimation
      $290,000
      5,514 SF

      116 Coolbaugh St

      FINANCIAL BUILDING • 5,514 SF
      116 Coolbaugh St, Red Oak, IA 51566-2273
      View Details
    • Value Estimation
      $330,000
      4,129 SF

      1805 Broadway St

      FINANCIAL BUILDING • 4,129 SF
      1805 Broadway St, Red Oak, IA 51566-1020
      View Details
    • Value Estimation
      $290,000
      1,440 SF

      1609 Broadway St

      FINANCIAL BUILDING • 1,440 SF
      1609 Broadway St, Red Oak, IA 51566-1027
      View Details
    • Value Estimation
      $225,000
      2,736 SF

      414 Coolbaugh St

      RETAIL STORES (PERSONAL SERVICES) • 2,736 SF
      414 Coolbaugh St, Red Oak, IA 51566-2341
      View Details
    • Value Estimation
      $220,000
      1,264 SF

      204 Washington Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,264 SF
      204 Washington Ave, Red Oak, IA 51566-2241
      View Details

    Similar Nearby for Sale

    • New
      $350,000
      7,020 SF

      Mixed-Use Victorian Building in Red Oak

      Mixed-use property with apartments and storefronts in downtown Red Oak.
      418 E Coolbaugh St, Red Oak, IA 51566
      View Details
    • Contact for pricing
      0.31 Acres

      Residential Lot in Red Oak

      Residential lot available in Woodland Hills Subdivision, Red Oak, Iowa.
      2900 N 4Th St, Red Oak, IA 51566
      View Details
    • $170,000
      3,146 SF

      Remodeled Duplex in Red Oak

      Remodeled Tudor-style duplex with modern finishes and shared terrace.
      702 E Coolbaugh St, Red Oak, IA 51566
      View Details
    • Contact for pricing
      0.29 Acres

      Residential Lot in Red Oak

      Ready-to-build residential lot in Woodland Hills Subdivision, Red Oak, Iowa.
      2805 N 4Th St, Red Oak, IA 51566
      View Details
    • Contact for pricing
      16,815 SF

      Red Oak Brick Building

      Well-maintained brick building suitable for storage facility.
      401 E Reed St, Red Oak, IA 51566
      View Details
    • Contact for pricing
      0.33 Acres

      Residential Lot in Woodland Hills

      Ready-to-build residential lot in Red Oak, Iowa.
      2809 N 4Th St, Red Oak, IA 51566
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      87,712 SF

      Red Oak Retail Space Available

      Retail space for lease in Hy-Vee anchored shopping center.
      1601 N Broadway St, Red Oak, IA 51566
      View Details
    • $1.00 SF/Yr
      396,832 SF

      Red Oak Retail Space Available

      Commercial space for lease in Red Oak Plaza.
      1701 N Broadway St, Red Oak, IA 51566
      View Details
    • Contact for pricing
      3,744 SF

      Restaurant Space on North Broadway

      Turnkey restaurant space with built-in customer base near Highway 34.
      1410 N Broadway St, Red Oak, IA 51566
      View Details
    • $8 SF/Yr
      87,712 SF

      Red Oak Plaza Retail Space

      Hy-Vee anchored shopping center; spaces available.
      1601 Broadway St, Red Oak, IA 51566
      View Details
    • $300 /Mo

      Red Oak Shared Office Space

      Private offices available for rent in Red Oak, Iowa.
      1995 Ironwood Ave, Red Oak, IA 51566
      View Details
    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.
    323 E Reed St
    Red Oak, IA 51566
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.