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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Retail space
3425 Hwy 71 Spirit Lake, IA 51360-7736
Individually Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-2441288
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2016
Construction
FRAME
Total area
5,960 SF
Lot
0.64 ac (28,009 SF)
APN
708179004
UPID
US25-2441288
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$445k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$596k
Blend (final)
Blend
$510k
Owner & transaction history
Cory J Jungjohan · 5 yrs held
Cory J Jungjohan
since 2020
Last sale
$575,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$810,000
+113.4%
Office building
$670,000
+75.9%
Commercial (general)
$665,000
+75.5%
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 Spirit Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spirit Lake 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
Method
Estimation
Statistic approach
$350,000
ML approach
$445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$380,000
Current use
WAREHOUSE, STORAGE
$810,000
Change: +113% · Conversion: Difficult
OFFICE BUILDING
$670,000
Change: +76% · Conversion: Easy
COMMERCIAL (GENERAL)
$665,000
Change: +76% · Conversion: Easy
RESTAURANT
$660,000
Change: +74% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$545,000
Change: +44% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$410,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $575k (Sep 4 2020)
Last sale anchor
$575k
Sep 4 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$86 / SF
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
$19,684
Tax year 2023
Assessed value
$911,900
Assessed 2024
Previous assessed
$911,900
+0.0% YoY
Effective rate
2.16%
On assessed value
Assessed land
$176,800
Assessed improvement
$735,100
Land market value
$176,800
Improvement market value
$735,100
Total market value
$911,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2016
Construction
FRAME
Stories
1
Total area
5,960 SF
Lot
0.64 ac (28,009 SF)
APN
708179004
UPID
US25-2441288
Jurisdiction
DICKINSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$380,000
WAREHOUSE, STORAGE
Est. value
$810,000
OFFICE BUILDING
Est. value
$670,000
COMMERCIAL (GENERAL)
Est. value
$665,000
RESTAURANT
Est. value
$660,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$545,000
INDUSTRIAL (GENERAL)
Est. value
$410,000
RETAIL STORES Current
WAREHOUSE, STORAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2016
Construction
FRAME
Stories
1
Lot
0.64 ac
Current owner
From public records · entity-resolved
Cory J Jungjohan
Individual
Mailing address
24310 182ND ST, SPIRIT LAKE, IA 51360-7354
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 4, 2020
$575,000
Cory J Jungjohan
Allure Properties LLC
Warranty Deed
—
May 1, 2018
—
Steffes Companies LLC
—
Deed
related
$590,057 · Northwest Bank
Mar 18, 2016
—
Steffes Companies LLC
Spencer Oms LLC
Warranty Deed
—
Sep 2, 2008
—
Lippon Family Trust
Ferguson Landscape Corp
Quit Claim Deed
related
—
Sep 2, 2008
$51,500
Lippon Family Trust
Ferguson Landscape Corp
Warranty Deed
—
Oct 4, 2007
$58,500
Lippon Family Trust
Ferguson Landscape Corp
Warranty Deed
—
Jul 25, 2006
$10,000
Lippon Family Trust
Ferguson Landscape Corp
Warranty Deed
—
Mar 31, 2006
$59,000
Lippon Family Trust
Ferguson Landscape Corp
Warranty Deed
—
May 4, 2005
$19,000
Dennis R Lippon
Ferguson Landscape Corp
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.
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