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Property profile & analytics
OFF-MARKET
Estimated value
$1,170,000
Flex space
105 2nd St Gilbert, IA 50105-2201
Entity Owned
Free & Clear
Property ID
US25-1114553
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2014
Construction
FRAME
Total area
11,646 SF
Lot
2.46 ac (107,158 SF)
APN
05-10-100-150
UPID
US25-1114553
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
-
Gilbert-Franklin Township Fire Station Fire Station
-
Gilbert City Hall City Hall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.17M
Owner & transaction history
GILBERT & FRANKLIN TWP FIRE & EMERGENCY RESPONSE A
GILBERT & FRANKLIN TWP FIRE & EMERGENCY RESPONSE A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+127.2%
Restaurant
$1.2M
+83.8%
Commercial (general)
$1.2M
+78.1%
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 Gilbert submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gilbert 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
OFFICE BUILDING
$1,495,000
Change: +127% · Conversion: Difficult
RESTAURANT
$1,210,000
Change: +84% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,170,000
Change: +78% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$960,000
Change: +46% · Conversion: Difficult
WAREHOUSE, STORAGE
$950,000
Change: +44% · Conversion: Easy
AUTO REPAIR, GARAGE
$930,000
Change: +41% · Conversion: Easy
RETAIL STORES
$720,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$1.17M
Range $1.05M – $1.29M · ±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
$100 / 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
Assessed value
$1,370,800
Assessed 2024
Previous assessed
$1,370,800
+0.0% YoY
Total market value
$1,370,800
Applied tax rate
5,047.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2014
Construction
FRAME
Heating
YES
Stories
1
Total area
11,646 SF
Lot
2.46 ac (107,158 SF)
APN
05-10-100-150
UPID
US25-1114553
Jurisdiction
STORY
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
OFFICE BUILDING
Est. value
$1.5M
RESTAURANT
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$960,000
WAREHOUSE, STORAGE
Est. value
$950,000
AUTO REPAIR, GARAGE
Est. value
$930,000
RETAIL STORES
Est. value
$720,000
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
RETAIL STORES
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
2014
Construction
FRAME
Heating
YES
Stories
1
Lot
2.46 ac
Current owner
From public records · entity-resolved
GILBERT & FRANKLIN TWP FIRE & EMERGENCY RESPONSE A
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 484, GILBERT, IA 50105-0484
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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