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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Retail properties & Spaces
1002 2nd NE St Bondurant, IA 50035-1019
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-1206245
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
2016
Construction
FRAME
Total area
6,720 SF
Lot
1.14 ac (49,876 SF)
APN
231/00028-004-002
UPID
US25-1206245
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
-
Bondurant Auto Body Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$875k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$841k
Blend (final)
Blend
$870k
Owner & transaction history
Tbs Motor Sports LLC · 3 yrs held
Tbs Motor Sports LLC
since 2023
Last sale
$900,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+92.5%
Auto repair, garage
$1.0M
+73.6%
Apartment house (5+ units)
$1.0M
+69.2%
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 Bondurant submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bondurant 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
$840,000
ML approach
$875,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$600,000
Current use
RESTAURANT
$1,155,000
Change: +92% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,045,000
Change: +74% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,015,000
Change: +69% · Conversion: Difficult
MEDICAL BUILDING
$1,015,000
Change: +69% · Conversion: Difficult
RETAIL STORES
$785,000
Change: +30% · Conversion: Difficult
COMMERCIAL (GENERAL)
$735,000
Change: +22% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$665,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$870k
Range $783k – $957k · ±10% · vs last sale $900k (Mar 10 2023)
Last sale anchor
$900k
Mar 10 2023
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
$129 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$6,960
Tax year 2020
Assessed value
$930,000
Assessed 2023
Previous assessed
$930,000
+0.0% YoY
Effective rate
0.75%
On assessed value
Assessed land
$224,000
Assessed improvement
$706,000
Land market value
$224,000
Improvement market value
$706,000
Total market value
$930,000
Applied tax rate
4.0000
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 properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
2016
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
2
Rooms
6
Bathrooms
1
Total area
6,720 SF
Lot
1.14 ac (49,876 SF)
APN
231/00028-004-002
UPID
US25-1206245
Jurisdiction
POLK
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$600,000
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$785,000
COMMERCIAL (GENERAL)
Est. value
$735,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$665,000
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2016
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Rooms
6
Bathrooms
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
Tbs Motor Sports LLC
Entity
Mailing address
5571 NW 2ND ST, DES MOINES, IA 50313-1333
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2023
$900,000
Tbs Motor Sports LLC
Tmk Properties LLC
Warranty Deed
$675,000 · Visionbank Of Iowa
Jun 7, 2021
—
Tmk Properties LLC
—
Deed
related
$398,640 · Legacy Bank
Aug 17, 2016
—
Bondurant Auto Body LLC
Lord,althea
Warranty Deed
related
—
Jun 27, 2016
—
Bondurant Auto Body LLC
—
Trustees Deed
related
$500,000 · Legacy Bk
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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