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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Medical Office Space
401 15th St, Clear Lake, IA 50428-2303
Entity Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0397697
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2014
Construction
FRAME
Total area
5,618 SF
Lot
1.01 ac (43,996 SF)
APN
61832700600
UPID
US25-0397697
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
-
MercyOne Clear Lake Pediatric and Adolescent Care Medical Clinic
-
Anjali S Henry, MD Pediatrician Medical Clinic
-
Tate A. Lage, DO Pediatrician Medical Clinic
-
Kristin Avery, DO Pediatrician Medical Clinic
-
Norma McGuire, MD Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$560k
Comparable Approach
Comparable
$477k
Blend (final)
Blend
$520k
Owner & transaction history
Mercy Health Services Iowa Corp · 13 yrs held
Mercy Health Services Iowa Corp
since 2013
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$660,000
+85.7%
Restaurant
$585,000
+64.4%
Warehouse, storage
$535,000
+51.1%
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 Clear Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clear 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$605,000
6.5%
$560,000
7%
$520,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$355,000
Current use
OFFICE BUILDING
$660,000
Change: +86% · Conversion: Easy
RESTAURANT
$585,000
Change: +64% · Conversion: Difficult
WAREHOUSE, STORAGE
$535,000
Change: +51% · Conversion: Difficult
AUTO REPAIR, GARAGE
$475,000
Change: +34% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$465,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$355,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$520k
Range $468k – $572k · ±10%
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
$93 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$24,000
Tax year 2022
Assessed value
$1,115,570
Assessed 2024
Previous assessed
$1,115,570
+0.0% YoY
Effective rate
2.15%
On assessed value
Assessed land
$75,350
Assessed improvement
$1,040,220
Land market value
$75,350
Improvement market value
$1,040,220
Total market value
$1,115,570
Applied tax rate
2,006.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2014
Construction
FRAME
Heating
NONE
Stories
1
Total area
5,618 SF
Lot
1.01 ac (43,996 SF)
APN
61832700600
UPID
US25-0397697
Jurisdiction
CERRO GORDO
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
MEDICAL BUILDING Current
Est. value
$355,000
OFFICE BUILDING
Est. value
$660,000
RESTAURANT
Est. value
$585,000
WAREHOUSE, STORAGE
Est. value
$535,000
AUTO REPAIR, GARAGE
Est. value
$475,000
INDUSTRIAL (GENERAL)
Est. value
$465,000
RETAIL STORES
Est. value
$355,000
MEDICAL BUILDING Current
OFFICE BUILDING
RESTAURANT
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
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
2014
Construction
FRAME
Heating
NONE
Stories
1
Lot
1.01 ac
Current owner
From public records · entity-resolved
Mercy Health Services Iowa Corp
Entity
Free & Clear · 13 yrs held
Mailing address
1000 4TH ST SW, MASON CITY, IA 50401-2800
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2013
$375,000
Mercy Health Services Iowa Corp
Nsb Bank
Warranty Deed
—
Feb 13, 2013
—
Northwoods State Bank
Korey K Zwiefel
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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