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Property profile & analytics
OFF-MARKET
Estimated value
$1,500,000
Warehouses
407 17th St Clear Lake, IA 50428-2304
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0848701
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2012
Total area
11,120 SF
Lot
1.34 ac (58,370 SF)
APN
61840100300
UPID
US25-0848701
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
$1.50M
CAP Approach
CAP
$1.21M
Comparable Approach
Comparable
$935k
Blend (final)
Blend
$1.50M
Owner & transaction history
407 S 17th Street LLC · 2 yrs held
407 S 17th Street LLC
since 2024
Last sale
$1.5M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$990,000
+6.9%
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
$1,500,000
ML approach
$1,500,000
CAP Approach
CAP Return
Estimation
6%
$1,305,000
6.5%
$1,205,000
7%
$1,120,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$930,000
Current use
RESTAURANT
$990,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$1.50M
Range $1.35M – $1.65M · ±10% · vs last sale $1.50M (Jul 9 2024)
Last sale anchor
$1.50M
Jul 9 2024
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
$135 / 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
$14,808
Tax year 2022
Assessed value
$716,970
Assessed 2024
Previous assessed
$716,970
+0.0% YoY
Effective rate
2.07%
On assessed value
Assessed land
$86,900
Assessed improvement
$630,070
Land market value
$86,900
Improvement market value
$630,070
Total market value
$716,970
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2012
Heating
NONE
Stories
1
Total area
11,120 SF
Lot
1.34 ac (58,370 SF)
APN
61840100300
UPID
US25-0848701
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
WAREHOUSE, STORAGE Current
Est. value
$930,000
RESTAURANT
Est. value
$990,000
WAREHOUSE, STORAGE Current
RESTAURANT
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
2012
Heating
NONE
Stories
1
Lot
1.34 ac
Current owner
From public records · entity-resolved
407 S 17th Street LLC
Entity
Mailing address
1817 S SHR DR, CLEAR LAKE, IA 50428-2819
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Jul 9, 2024
$1,500,000
407 S 17th Street LLC
Pigskin Farms LLC
Warranty Deed
$1,000,000 · Manufacturers Bank & Trust Co
Oct 31, 2012
$25,000
Pigskin Farms LLC
Clear Lake Business & Industrial De
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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