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Property profile & analytics
OFF-MARKET
Estimated value
$6,350,000
Grocery and convenience stores
421 Illinois Ave 621 Mason City, IA 50401-4400
Entity Owned
17-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0476418
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1977
Total area
67,892 SF
Lot
8.56 ac (372,874 SF)
APN
71140100800
UPID
US25-0476418
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
-
Subway Take-out & Catering
-
UScellular Mobile Phone Store Electronics & Wireless Store
-
Ana Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.07M
Comparable Approach
Comparable
$6.33M
Blend (final)
Blend
$6.35M
Owner & transaction history
Westbrooke Daniels LLC · 17 yrs held
Westbrooke Daniels LLC
since 2009
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.1M
+37.2%
Industrial (general)
$5.3M
+20.1%
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 Mason City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mason City 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%
$8,745,000
6.5%
$8,070,000
7%
$7,495,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,415,000
Current use
RESTAURANT
$6,055,000
Change: +37% · Conversion: Easy
INDUSTRIAL (GENERAL)
$5,300,000
Change: +20% · Conversion: Difficult
OFFICE BUILDING
$4,355,000
Change: -1% · Conversion: Easy
WAREHOUSE, STORAGE
$3,940,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$6.35M
Range $5.72M – $6.99M · ±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
$94 / 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
$140,028
Tax year 2022
Assessed value
$4,813,050
Assessed 2024
Previous assessed
$4,813,050
+0.0% YoY
Effective rate
2.91%
On assessed value
Assessed land
$496,190
Assessed improvement
$4,316,860
Land market value
$496,190
Improvement market value
$4,316,860
Total market value
$4,813,050
Applied tax rate
1,001.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1977
Heating
NONE
Buildings
3
Stories
1
Total area
67,892 SF
Lot
8.56 ac (372,874 SF)
APN
71140100800
UPID
US25-0476418
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
RETAIL STORES Current
Est. value
$4.4M
RESTAURANT
Est. value
$6.1M
INDUSTRIAL (GENERAL)
Est. value
$5.3M
OFFICE BUILDING
Est. value
$4.4M
WAREHOUSE, STORAGE
Est. value
$3.9M
RETAIL STORES Current
RESTAURANT
INDUSTRIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1977
Heating
NONE
Stories
1
Buildings
3
Lot
8.56 ac
Current owner
From public records · entity-resolved
Westbrooke Daniels LLC
Entity
Free & Clear · 17 yrs held
Mailing address
4350 WESTOWN PKWY STE #100, WEST DES MOINES, IA 50266-1062
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2009
$1,131,000
Westbrooke Daniels LLC
Heather Enterprises LP
Special Warranty Deed
—
Oct 16, 2008
—
Regency Square Stantin LLC
Gerard J Stanton JR
Warranty Deed
—
Jul 3, 2008
—
Danfam LLC
Regency Square Ltd
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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