Back to Search
Property profile & analytics
FOR SALE
Industrial properties
10435 New York Ave Urbandale, IA 50322
Trust Owned
1-yr Hold
Free & Clear
Property ID
US25-0363376
For Sale
1 / 4
$3,900,000
10435 New York Ave, Urbandale, IA 50322
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1982
Construction
STEEL FRAME
Total area
16,520 SF
Lot
1.95 ac (84,942 SF)
Zoning code
PUD
APN
312/03260-414-000
UPID
US25-0363376
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
$2.19M
Blend (final)
Blend
$1.97M
Owner & transaction history
Toby A Geiger Revocable Trust · 1 yrs held
Toby A Geiger Revocable Trust
since 2024
2 recorded transactions
Zoning & alternative use
PUD · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
T. § 160.21 “FW” FLOODWAY (OVERLAY) DISTRICT. § 160.22 “FF” FLOODWAY FRINGE (OVERLAY) DISTRICT. § 160.22.1 “GF” GENERAL FLOODPLAIN (OVERLAY) DISTRICT. § 160.23 ADMINISTRATION OF FLOODPLAIN MANAGEMENT DISTRICT. § 160.24 “P.U.D.” PLANNED UNIT DEVELOPMENT DISTRICT. § 160.25 GENERAL REGULATIONS FOR LAND AND STRUCTURES. § 160.26 GENERAL USE RESTRICTIONS AND RULES…
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
3,693.79 ac
Source
CHAPTER 160: ZONING
Top alternative use upside
Auto repair, garage
$2.8M
+137.1%
Medical building
$2.8M
+129.2%
Restaurant
$2.6M
+112.5%
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 Urbandale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Urbandale 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
INDUSTRIAL (GENERAL)
$1,200,000
Current use
AUTO REPAIR, GARAGE
$2,845,000
Change: +137% · Conversion: Easy
MEDICAL BUILDING
$2,750,000
Change: +129% · Conversion: Difficult
RESTAURANT
$2,550,000
Change: +113% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,430,000
Change: +103% · Conversion: Difficult
RETAIL STORES
$1,920,000
Change: +60% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,520,000
Change: +27% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,500,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$1.97M
Range $1.77M – $2.16M · ±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
$119 / 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
$110,710
Tax year 2023
Assessed value
$3,760,000
Assessed 2024
Previous assessed
$3,760,000
+0.0% YoY
Effective rate
2.94%
On assessed value
Assessed land
$449,000
Assessed improvement
$3,311,000
Land market value
$449,000
Improvement market value
$3,311,000
Total market value
$3,760,000
Applied tax rate
20.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Sale
Year built
1982
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Total area
16,520 SF
Lot
1.95 ac (84,942 SF)
Zoning code
PUD
APN
312/03260-414-000
UPID
US25-0363376
Jurisdiction
POLK
Zoning & alternative use
PUD · Urbandale, IAZoning PUD · permitted uses
PUD · Urbandale, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
T. § 160.21 “FW” FLOODWAY (OVERLAY) DISTRICT. § 160.22 “FF” FLOODWAY FRINGE (OVERLAY) DISTRICT. § 160.22.1 “GF” GENERAL FLOODPLAIN (OVERLAY) DISTRICT. § 160.23 ADMINISTRATION OF FLOODPLAIN MANAGEMENT DISTRICT. § 160.24 “P.U.D.” PLANNED UNIT DEVELOPMENT DISTRICT. § 160.25 GENERAL REGULATIONS FOR LAND AND STRUCTURES. § 160.26 GENERAL USE RESTRICTIONS AND RULES OF INTERPRETATION. § 160.27 BUFFER YARDS. § 160.28 REQUIRED OPEN SPACE AND LANDSCAPI
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
3,693.79 ac
Source
CHAPTER 160: ZONING
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.8M
RESTAURANT
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
RETAIL STORES
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.5M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (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
1982
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Lot
1.95 ac
Current owner
From public records · entity-resolved
Toby A Geiger Revocable Trust
Trust
Free & Clear · 1 yrs held
Mailing address
10435 NEW YORK AVE, URBANDALE, IA 50322-3774
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
Sep 10, 2024
$3,450,000
Toby A Geiger Revocable Trust
Longboat Leasing Company Lc
Warranty Deed
—
Dec 21, 2007
—
Longboat Leasing Co Lc
—
Trustees Deed
related
$1,500,000 · Bankers Trust Co
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
