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    Property profile & analytics

    502 Southmoor Dr Spencer, IA 51301-5652

    • Office buildings
    • 8,272 SF
    • 1.02 lot acres
    OFF-MARKET
    Value Estimation
    $905,000
    Last Sale
    Mar 18, 2024
    $912,500
    Location Intelligence
    Property ID
    US25-0622431
    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

    • SERVPRO of Spencer & Iowa Great Lakes / Cleaners / Commercial Cleaning Service
    • Jcl Solutions / Janitorial Equipment Supplier
    • Crav'n Nutrition / Sports Nutrition Store

    Property Details for 502 Southmoor Dr

    Year built
    1980
    Construction
    FRAME
    Lot size
    1.02 lot acres
    Property size
    8,272 SF
    Zone code
    C-1 GENERAL COMMERCIAL
    Property type
    Office buildings
    APN
    963713480018
    APU
    963713480018

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $915,000

    • CAP approach

      CAP return
      Estimation
      6%
      $875,000
      6.5%
      $875,000
      7%
      $855,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $815,000
      Geo Method
      $870,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,015,000
      Retail
      $825,000
      Mixed-Use
      $980,000
      Hospitality
      $830,000
      Educational
      $835,000
      Residential Income
      $1,050,000
      Energy
      $910,000
      Income-Based Land
      $965,000
      Food Service
      $945,000

    Location Insight

    • Map
    • Local Demand
    City
    Spencer
    County
    Clay
    State
    Iowa
    Longitude
    -95.1515
    Latitude
    43.1285
    CBSA code
    43980
    CBSA name
    SPENCER, IA MICROPOLITAN STATISTICAL AREA

    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
    2023
    $15,242
    $200,080
    $380,230
    $580,310
    -
    $200,080
    $380,230
    $580,310

    Comparable in this City

    • Value Estimation by Request
      3,742 SF

      2450 Hwy 18

      OFFICE BUILDING • 3,742 SF
      2450 Hwy 18, Spencer, IA 51301-7467
      View Details
    • Value Estimation by Request
      5,384 SF

      1810 340th St

      OFFICE BUILDING • 5,384 SF
      1810 340th St, Spencer, IA 51301-7447
      View Details
    • Value Estimation by Request
      11,992 SF

      217 5th St

      OFFICE BUILDING • 11,992 SF
      217 5th St, Spencer, IA 51301-3853
      View Details
    • Value Estimation by Request
      2,700 SF

      503 44th St

      OFFICE BUILDING • 2,700 SF
      503 44th St, Spencer, IA 51301-2089
      View Details
    • Value Estimation by Request
      5,544 SF

      1610 12th SW Ave

      OFFICE BUILDING • 5,544 SF
      1610 12th SW Ave, Spencer, IA 51301-5670
      View Details
    • Value Estimation by Request
      10,218 SF

      714 Grand Ave

      OFFICE BUILDING • 10,218 SF
      714 Grand Ave, Spencer, IA 51301-5730
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Residential lot available near Spencer Golf and Country Club.
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    502 Southmoor Dr
    Spencer, IA 51301-5652
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    Realmo Value Estimation

    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.

    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.

    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
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