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

    407 2Nd St Ida Grove, IA 51445

    • Turn key restaurants
    • 3,408 SF
    • 0.06 lot acres
    For Sale
    View listing
    $189,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-1528228
    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

    • Davey's Bar & Grill / Restaurant

    Property Details for 407 2Nd St

    Year built
    1900
    Construction
    BRICK
    Lot size
    0.06 lot acres
    Property size
    3,408 SF
    Property type
    Turn key restaurants
    APN
    18080604
    APU
    18080604

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ida Grove
    County
    Ida
    State
    Iowa
    Longitude
    -95.4704
    Latitude
    42.3448

    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
    2022
    $624
    $6,260
    $135,510
    $141,770
    -
    $6,260
    $135,510
    $141,770

    Comparable in this City

    • Value Estimation by Request
      2,668 SF

      88 State Hwy 175

      RESTAURANT • 2,668 SF
      88 State Hwy 175, Ida Grove, IA 51445-1158
      View Details
    • Value Estimation by Request
      2,200 SF

      508 2nd St

      RESTAURANT • 2,200 SF
      508 2nd St, Ida Grove, IA 51445-1305
      View Details
    • Value Estimation by Request
      8,192 SF

      2563 Landmark Ave

      RESTAURANT • 8,192 SF
      2563 Landmark Ave, Ida Grove, IA 51445-8090
      View Details
    • Value Estimation by Request
      2,916 SF

      901 State Hwy 175

      RESTAURANT • 2,916 SF
      901 State Hwy 175, Ida Grove, IA 51445-1063
      View Details
    • Value Estimation by Request
      752 SF

      202 State Hwy 175

      DRIVE-THRU RESTAURANT, FAST FOOD • 752 SF
      202 State Hwy 175, Ida Grove, IA 51445-1141
      View Details
    • Value Estimation by Request
      2,184 SF

      408 2nd St

      NIGHTCLUB (COCKTAIL LOUNGE) • 2,184 SF
      408 2nd St, Ida Grove, IA 51445-1303
      View Details

    Similar Nearby for Sale

    • New
      $189,000
      0.06 Acres

      Ida Grove Mixed-Use Opportunity

      Former restaurant with apartment and rental income potential in Iowa.
      407 2Nd St, Ida Grove, IA 51445
      View Details
    • $519,400
      11,388 SF

      Prime Ida Grove Commercial Property

      High-Yield Retail & Office Investment
      209 Moorehead Ave, Ida Grove, IA 51445
      View Details
    • $358,000
      1.06 Acres

      Ida Grove Triplex For Sale

      Fully occupied triplex with immediate income and private parking.
      800 Valley View Dr, Ida Grove, IA 51445
      View Details
    • $495,000
      1.75 Acres

      Five-Unit Multifamily Investment Property

      Well-maintained five-unit property with strong occupancy and income potential.
      804 Valley View Dr, Ida Grove, IA 51445
      View Details
    • $425,000
      0.72 Acres

      Ida Grove Quadruplex Investment

      Four-unit complex with consistent occupancy and reliable rental history.
      802 Valley View Dr, Ida Grove, IA 51445
      View Details
    • New
      Contact for pricing
      0.74 Acres

      Residential Corner Lot in Ida Grove

      Large, level corner lot suitable for residential construction.
      460 Pin Oak Dr, Ida Grove, IA 51445
      View Details

    Similar Nearby for Lease

    • $469,400
      9,100 SF

      Former Dollar General with Office

      9,100 SF retail space with 2,288 SF office.
      209 Moorehead Ave, Ida Grove, IA 51445
      View Details
    • $2,400 /Mo
      5,760 SF

      Warehouse with Retail Shop Space

      Versatile warehouse space with retail shop in Ida Grove.
      606 Hwy 175 W, Ida Grove, IA 51445
      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.
    407 2Nd St
    Ida Grove, IA 51445
    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.