Your AI Navigator in Commercial Real Estate
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
    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 Estimation
    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 Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $355,000

    • CAP approach

      CAP return
      Estimation
      6%
      $275,000
      6.5%
      $290,000
      7%
      $250,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $280,000
      Geo Method
      $280,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $275,000
      Retail
      $280,000
      Mixed-Use
      $265,000
      Hospitality
      $250,000
      Educational
      $260,000
      Residential Income
      $260,000
      Energy
      $290,000
      Income-Based Land
      $320,000
      Food Service
      $265,000

    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 by Request
      3,608 SF

      2100 Commerce Dr

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

      116 Coolbaugh St

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

      1805 Broadway St

      FINANCIAL BUILDING • 4,129 SF
      1805 Broadway St, Red Oak, IA 51566-1020
      View Details
    • Value Estimation
      $230,000
      1,440 SF

      1609 Broadway St

      FINANCIAL BUILDING • 1,440 SF
      1609 Broadway St, Red Oak, IA 51566-1027
      View Details
    • Value Estimation by Request
      2,575 SF

      405 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 2,575 SF
      405 3rd St, Red Oak, IA 51566-2232
      View Details
    • Value Estimation by Request
      2,575 SF

      407 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 2,575 SF
      407 3rd St, Red Oak, IA 51566-2232
      View Details

    Similar Nearby for Sale

    • $105,000
      1,495 SF

      Established Restaurant Business For Sale

      Well-established restaurant with additional rental income opportunity in Red Oak, IA.
      1011 N Broadway St, Red Oak, IA 51566
      View Details
    • $219,900
      Pending

      Red Oak Auto Repair Shop

      Auto repair shop with retail/office space and storage building.
      106 W Market 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

      Residential lot available for building in Red Oak, Iowa.
      2809 N 4Th St, Red Oak, IA 51566
      View Details
    • $250,000
      13.62 Acres

      Red Oak Vacant Land Parcel

      13-acre parcel with city utilities near Red Oak, Iowa.
      107 E Ratliff Rd, Red Oak, IA 51566
      View Details
    • Contact for pricing
      0.31 Acres

      Residential Lot in Red Oak

      Residential land for sale in Woodland Hills Subdivision, Red Oak.
      2900 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 Commercial 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
    • New
      $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 Estimation

    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.

    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.

    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
    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.