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Property profile & analytics
OFF-MARKET
Estimated value
$1,665,000
Investment properties
10550 New York Ave Urbandale, IA 50322-3744
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0307338
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1984
Construction
STEEL FRAME
Total area
19,120 SF
Lot
1.95 ac (85,116 SF)
Zoning code
PUD
APN
312/03260-411-000
UPID
US25-0307338
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
$1.39M
Blend (final)
Blend
$1.67M
Owner & transaction history
Welgaard Real Estate LLC · 1 yrs held
Welgaard Real Estate LLC
since 2024
7 recorded transactions
Zoning & alternative use
PUD · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.2M
+28.0%
Warehouse, storage
$1.8M
+1.3%
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
COMMERCIAL (GENERAL)
$1,735,000
Current use
RETAIL STORES
$2,220,000
Change: +28% · Conversion: Easy
WAREHOUSE, STORAGE
$1,755,000
Change: +1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,530,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.67M
Range $1.50M – $1.83M · ±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
$87 / 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
$38,690
Tax year 2020
Assessed value
$1,610,000
Assessed 2023
Previous assessed
$1,610,000
+0.0% YoY
Effective rate
2.40%
On assessed value
Assessed land
$450,000
Assessed improvement
$1,160,000
Land market value
$450,000
Improvement market value
$1,160,000
Total market value
$1,610,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1984
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
2
Total area
19,120 SF
Lot
1.95 ac (85,116 SF)
Zoning code
PUD
APN
312/03260-411-000
UPID
US25-0307338
Jurisdiction
POLK
Zoning & alternative use
PUD · Urbandale, IA
Zoning PUD · permitted uses
PUD · Urbandale, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Urbandale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.7M
RETAIL STORES
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
1984
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
1
Lot
1.95 ac
Current owner
From public records · entity-resolved
Welgaard Real Estate LLC
Entity
Mailing address
916 W 16TH ST, PELLA, IA 50219-7918
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2024
—
Welgaard Real Estate LLC
S & U Real Estate LLC
Warranty Deed
—
Oct 2, 2023
$2,100,000
S & U Real Estate LLC
Nyny LLC
Warranty Deed
$1,680,000 · Marion County State Bank
Nov 4, 2020
—
Deer Crk Ankeny INC
—
Deed
related
$1,575,000 · Central St Bk
Sep 17, 2018
$125,000
3g Hms LLC
Deer Crk Ankeny INC
Warranty Deed
—
Jun 30, 2016
$1,100,000
Nyny LLC
Westport Professional Center Associ
Warranty Deed
$934,800 · Northwest Bank
—
—
Westport Prof Center Assocs
—
Deed Of Trust
related
$650,000 · Legacy Bank
—
—
Westport Prof Center Assocs
—
Deed Of Trust
related
$800,000 · Legacy Bk-clive
—
—
Westport Prof Center Assocs
—
Deed Of Trust
related
$455,042 · Donald C Timmins
—
—
Deer Crk Ankeny INC
—
Deed Of Trust
related
$1,575,000 · Central St 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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