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Property profile & analytics
OFF-MARKET
Estimated value
$875,000
Strip malls
10100 62nd Ave Johnston, IA 50131-2914
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0155192
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2019
Construction
FRAME
Total area
8,486 SF
Lot
1.79 ac (77,929 SF)
APN
241/00312-550-001
UPID
US25-0155192
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$875k
Owner & transaction history
MRG JOHNSTON LLC
MRG JOHNSTON LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+57.5%
Apartment house (5+ units)
$1.3M
+53.5%
Medical building
$1.3M
+53.1%
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 Johnston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Johnston 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
NEIGHBORHOOD: SHOPPING CENTER
$835,000
Current use
AUTO REPAIR, GARAGE
$1,320,000
Change: +58% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,285,000
Change: +54% · Conversion: Difficult
MEDICAL BUILDING
$1,280,000
Change: +53% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,135,000
Change: +36% · Conversion: Easy
RETAIL STORES
$990,000
Change: +18% · Conversion: Easy
WAREHOUSE, STORAGE
$725,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$875k
Range $788k – $963k · ±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
$103 / 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
$15,556
Tax year 2020
Assessed value
$2,030,000
Assessed 2023
Previous assessed
$2,030,000
+0.0% YoY
Effective rate
0.77%
On assessed value
Assessed land
$615,000
Assessed improvement
$1,415,000
Land market value
$615,000
Improvement market value
$1,415,000
Total market value
$2,030,000
Applied tax rate
13.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2019
Construction
FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
8,486 SF
Lot
1.79 ac (77,929 SF)
APN
241/00312-550-001
UPID
US25-0155192
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$835,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$990,000
WAREHOUSE, STORAGE
Est. value
$725,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
2019
Construction
FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
1.79 ac
Current owner
From public records · entity-resolved
MRG JOHNSTON LLC
Entity
Free & Clear · 0 yrs held
Mailing address
109 N ANKENY BLVD, ANKENY, IA 50023-1708
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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