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Property profile & analytics
OFF-MARKET
Estimated value
$1,220,000
Retail space
565 Illinois Ave Mason City, IA 50401-4441
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0549509
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1998
Construction
FRAME
Total area
9,975 SF
Lot
0.6 ac (26,136 SF)
APN
71140103500
UPID
US25-0549509
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
-
Dollar Tree Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.16M
CAP Approach
CAP
$1.19M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.22M
Owner & transaction history
Charles L Colby · 5 yrs held
Charles L Colby
since 2021
Last sale
$1.3M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$890,000
+37.2%
Industrial (general)
$780,000
+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
$1,110,000
ML approach
$1,155,000
CAP Approach
CAP Return
Estimation
6%
$1,285,000
6.5%
$1,185,000
7%
$1,100,000
Alternative Use
Use
Estimation
RESTAURANT
$890,000
Change: +37% · Conversion: Easy
INDUSTRIAL (GENERAL)
$780,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$1.22M
Range $1.10M – $1.34M · ±10% · vs last sale $1.32M (Mar 22 2021)
Last sale anchor
$1.32M
Mar 22 2021
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
$122 / 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
$14,192
Tax year 2022
Assessed value
$542,260
Assessed 2024
Previous assessed
$542,260
+0.0% YoY
Effective rate
2.62%
On assessed value
Assessed land
$101,930
Assessed improvement
$440,330
Land market value
$101,930
Improvement market value
$440,330
Total market value
$542,260
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1998
Construction
FRAME
Heating
NONE
Stories
1
Total area
9,975 SF
Lot
0.6 ac (26,136 SF)
APN
71140103500
UPID
US25-0549509
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
RESTAURANT
Est. value
$890,000
INDUSTRIAL (GENERAL)
Est. value
$780,000
RESTAURANT
INDUSTRIAL (GENERAL)
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
1998
Construction
FRAME
Heating
NONE
Stories
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Charles L Colby
Individual
Free & Clear · 5 yrs held
Mailing address
6581 UNIVERSITY AVE, WINDSOR HEIGHTS, IA 50324-1728
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 22, 2021
$1,320,000
Charles L Colby
Highway 30 Partners Lc
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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