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Property profile & analytics
OFF-MARKET
Office buildings
503 Main Ave Clear Lake, IA 50428-1828
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-2583132
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1924
Total area
2,586 SF
Lot
0.16 ac (6,926 SF)
APN
51328500900
UPID
US25-2583132
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
-
Lakewell Hair Salon Nail Salon
-
Munn Enterprises, LLC Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Spencer D Schroeder · 4 yrs held
Spencer D Schroeder
since 2022
Last sale
$194,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,458
Tax year 2022
Assessed value
$220,520
Assessed 2024
Previous assessed
$212,560
+3.7% YoY
Effective rate
1.57%
On assessed value
Assessed land
$62,370
Assessed improvement
$158,150
Land market value
$62,370
Improvement market value
$158,150
Total market value
$220,520
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1924
Heating
NONE
Stories
1
Total area
2,586 SF
Lot
0.16 ac (6,926 SF)
APN
51328500900
UPID
US25-2583132
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
Building & site characteristics
From public records
Year built
1924
Heating
NONE
Stories
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
Spencer D Schroeder
Individual
Mailing address
8 S 8TH ST, CLEAR LAKE, IA 50428-1926
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 21, 2022
$194,000
Spencer D Schroeder
Rne Commercial LLC
Warranty Deed
$155,200 · Clear Lake Bank & Trust Co
Oct 3, 2018
$175,000
Anita J Winter
Robert H Furleigh
Warranty Deed
—
Sep 24, 2018
$150,000
Rne Commercial LLC
Anita J Winter
Warranty Deed
$121,600 · Clear Lake Bank & Trust
Jun 22, 2007
$139,000
Robert Furleigh
Reinhardt Anderso
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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