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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Retail space
931 8th St 933 Boone, IA 50036-2969
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-1246053
Property summary
AI-generated overview
This exceptional commercial property, located at 931 8th Street in Boone, IA, presents a unique investment opportunity. Situated in the heart of Boone's central business district (CBD), this visible building boasts excellent accessibility via two convenient entrances. Its prime location ensures high visibility and significant foot traffic, making it ideal for a variety of commercial uses. The building itself is in good condition and offers ample space for retail, office, service, or other commercial ventures. The asking price is $990,000. While the exact square footage is not currently specified, the property's prominent location and versatile nature make it a compelling prospect for businesses seeking a strong presence in the thriving Boone market. The property sits on a lot with no acreage specified. Its strategic position within the CBD guarantees easy access to local amenities, businesses, and a substantial customer base. This is a rare chance to acquire a well-maintained commercial building in a highly desirable location. Serious inquiries are encouraged to explore this promising investment opportunity further.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1975
Total area
28,762 SF
Lot
2.06 ac (89,733 SF)
Zoning code
INC
APN
88426214482054
UPID
US25-1246053
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
-
High Bar Auction Service Trade Show Venue (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$990k
Owner & transaction history
John C Gretlein JR · 1 yrs held
John C Gretlein JR
since 2024
2 recorded transactions
Zoning & alternative use
INC · Boone, IA
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 Boone submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boone 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,355,000
Current use
INDUSTRIAL (GENERAL)
$1,165,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±10%
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
$34 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$21,388
Tax year 2023
Assessed value
$693,904
Assessed 2024
Previous assessed
$693,904
+0.0% YoY
Effective rate
3.08%
On assessed value
Assessed land
$90,900
Assessed improvement
$603,004
Land market value
$90,900
Improvement market value
$603,004
Total market value
$693,904
Applied tax rate
622.0000
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
1975
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
28,762 SF
Lot
2.06 ac (89,733 SF)
Zoning code
INC
APN
88426214482054
UPID
US25-1246053
Jurisdiction
BOONE
Zoning & alternative use
INC · Boone, IA
Zoning INC · permitted uses
INC · Boone, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boone. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES Current
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
1975
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.06 ac
Current owner
From public records · entity-resolved
John C Gretlein JR
Individual
Free & Clear · 1 yrs held
Mailing address
5204 E 161ST ST S, BIXBY, OK 74008-4491
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Sep 12, 2024
—
John C Gretlein JR
John C Gretlein JR
Legal Action/court Order
related
—
Jun 9, 2014
—
John C Gretlein
John C Gretlein
Affidavit Of Death Of Joint Tenant
related
—
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.
Try Rey
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