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    209 4Th St Council Bluffs, IA 51503

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    For Sale
    Contact for pricing

    11-Unit Value-Add Apartment Building

    Property size:
    6,612 SF

    Property Features for 209 4Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    6,612 SF
    Class
    C

    Building Details

    Year Built
    1920
    Buildings
    1
    Stories
    3
    Units
    11

    We can help!

    Listing Contact
    David Carrig
    David Carrig

    Listing Agency: BARON Listing Agent: David Carrig

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 11-unit apartment building, known as the CB Undecuplex, presents a compelling value-add opportunity in the heart of Council Bluffs, Iowa. Located at 209 S 4th St, this three-story, 6,612 square foot building sits on a 5,800 square foot lot (APN: 7544 36 209 006) and is zoned for Administrative Professional District use. Built in 1920, the property boasts 100% occupancy as of September 28, 2024, offering immediate cash flow. Its prime downtown location places it steps from the vibrant 100 Block entertainment corridor, Bayliss Park, and Haymarket Square, providing residents easy access to dining, shopping, and entertainment. The strong rental market in Council Bluffs, coupled with the property's affordability, ensures consistent demand. This investment offers significant value-add potential through unit modernization, allowing for increased rental rates and property value. The acquisition of 11 units at an attractive price per door provides economies of scale, maximizing potential returns. This fee simple ownership opportunity allows for immediate control and strategic repositioning within the thriving Council Bluffs-Omaha metro area. The property's scale and location make it an ideal investment for those seeking a strong return in a stable market. This is a rare chance to acquire a well-positioned multifamily asset with substantial upside potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Council Bluffs
    County
    Pottawattamie
    State
    Iowa
    Longitude
    -95.849593578181
    Latitude
    41.257744502607

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    FAQs

    What type of property is this?
    Multifamily property - 11-Unit Value-Add Apartment Building
    Where is this multifamily property located?
    The property is located at 209 4Th St Council Bluffs, IA.
    What are key features of this property?
    This property features: Prime downtown Council Bluffs location near entertainment, parks, and Omaha access.; Significant value-add potential through unit modernization and amenity upgrades.; Stable rental income due to strong tenant demand in Council Bluffs' affordable housing market.
    (402) 218-5888 Call to check price and availability
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    209 4Th St Council Bluffs, IA 51503
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    Council Bluffs, IA 51503
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    209 4Th St Council Bluffs, IA 51503
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David Carrig
    David Carrig
    Real Estate License ID: 20190573
    (402) 218-5888
    Learn more
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