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Property profile & analytics
OFF-MARKET
Retail space
5040 Lafayette Rd Elk Run Heights, IA 50707-1330
Individually Owned
Absentee Owner
Free & Clear
Property ID
US25-0204758
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1959
Construction
CONCRETE BLOCKS
Total area
2,516 SF
Lot
0.25 ac (10,912 SF)
APN
8812-05-226-004
UPID
US25-0204758
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Kenneth G Schares & Teresa L Schare
Kenneth G Schares & Teresa L Schare
since 2025
3 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 Elk Run Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elk Run Heights 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 2023Property tax & assessments
Tax year 2023
Tax billed
$513
Tax year 2023
Assessed value
$35,810
Assessed 2024
Previous assessed
$35,810
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$16,370
Assessed improvement
$19,440
Land market value
$16,370
Improvement market value
$19,440
Total market value
$35,810
Applied tax rate
360,001.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1959
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Stories
1
Total area
2,516 SF
Lot
0.25 ac (10,912 SF)
APN
8812-05-226-004
UPID
US25-0204758
Jurisdiction
BLACK HAWK
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
1959
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Stories
1
Lot
0.25 ac
Current owner
From public records · entity-resolved
Kenneth G Schares & Teresa L Schare
Individual
Free & Clear · 0 yrs held
Mailing address
1096 280TH ST LOT #11, JESUP, IA 50648-9255
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Dec 15, 2025
—
Kenneth G Schares & Teresa L Schare
Kenneth G Schares
Quitclaim Deed
related
—
Jan 7, 2009
—
Kenneth G Schares
Ronald J Ratchford
Quit Claim Deed
related
—
Jun 24, 2008
$20,000
Ronald J Ratchford
Jackie L Sutton
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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