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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Flex space
800 8th St Clear Lake, IA 50428-1539
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US25-0633781
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1980
Total area
5,740 SF
Lot
0.49 ac (21,519 SF)
APN
60735402600
UPID
US25-0633781
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
-
Lake Fit Gym & Fitness Center
-
Molencamp Physical Therapy Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$630k
CAP Approach
CAP
$510k
Comparable Approach
Comparable
$406k
Blend (final)
Blend
$630k
Owner & transaction history
Molencamp Properties LLC · 2 yrs held
Molencamp Properties LLC
since 2024
Last sale
$631,400
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$510,000
+14.2%
Warehouse, storage
$480,000
+6.9%
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
Method
Estimation
Statistic approach
$630,000
ML approach
$630,000
CAP Approach
CAP Return
Estimation
6%
$555,000
6.5%
$510,000
7%
$475,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$450,000
Current use
RESTAURANT
$510,000
Change: +14% · Conversion: Difficult
WAREHOUSE, STORAGE
$480,000
Change: +7% · Conversion: Easy
OFFICE BUILDING
$405,000
Change: -9% · Conversion: Difficult
RETAIL STORES
$405,000
Change: -10% · Conversion: Moderate
Blend value · Realmo final
$630k
Range $567k – $693k · ±10% · vs last sale $631k (Mar 1 2024)
Last sale anchor
$631k
Mar 1 2024
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
$110 / 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
$7,062
Tax year 2022
Assessed value
$414,030
Assessed 2024
Previous assessed
$414,030
+0.0% YoY
Effective rate
1.71%
On assessed value
Assessed land
$129,100
Assessed improvement
$284,930
Land market value
$129,100
Improvement market value
$284,930
Total market value
$414,030
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1980
Heating
NONE
Stories
1
Total area
5,740 SF
Lot
0.49 ac (21,519 SF)
APN
60735402600
UPID
US25-0633781
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
INDUSTRIAL (GENERAL) Current
Est. value
$450,000
RESTAURANT
Est. value
$510,000
WAREHOUSE, STORAGE
Est. value
$480,000
OFFICE BUILDING
Est. value
$405,000
RETAIL STORES
Est. value
$405,000
INDUSTRIAL (GENERAL) Current
RESTAURANT
WAREHOUSE, STORAGE
OFFICE BUILDING
RETAIL STORES
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
1980
Heating
NONE
Stories
1
Lot
0.49 ac
Current owner
From public records · entity-resolved
Molencamp Properties LLC
Entity
Mailing address
800TH N 8TH ST, CLEAR LAKE, IA 50428-1539
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2024
$631,400
Molencamp Properties LLC
David M Ricken
Land Contract
$621,400 · David M Ricken Etux
Dec 31, 2019
$395,000
David M Ricken
Gary B Laabs
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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