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Property profile & analytics
OFF-MARKET
Warehouses
109 1st St Polk City, IA 50226-2146
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0026772
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1984
Construction
FRAME
Total area
3,000 SF
Lot
0.25 ac (10,686 SF)
Zoning code
C-1
APN
261/00151-001-000
UPID
US25-0026772
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
by Request
Owner & transaction history
First Choice Renovations LLC · 5 yrs held
First Choice Renovations LLC
since 2020
Last sale
$175,000
4 recorded transactions
Zoning & alternative use
C-1 · Polk City, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
B. C-1 Central Business District. The C-1 District recognizes the unique mixed-use character of the area surrounding the town square. The development regulations are intended to provide for one- and two-family residential uses interspersed with a variety of commercial uses in a harmonious manner.
Zone name
Central Business District
General category
MIXED_USE
Zone area
19.41 ac
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 Polk City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Polk City 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,412
Tax year 2023
Assessed value
$223,000
Assessed 2024
Previous assessed
$223,000
+0.0% YoY
Effective rate
2.43%
On assessed value
Assessed land
$21,600
Assessed improvement
$201,400
Land market value
$21,600
Improvement market value
$201,400
Total market value
$223,000
Applied tax rate
7.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1984
Construction
FRAME
Heating
YES
Buildings
3
Stories
1
Total area
3,000 SF
Lot
0.25 ac (10,686 SF)
Zoning code
C-1
APN
261/00151-001-000
UPID
US25-0026772
Jurisdiction
POLK
Zoning & alternative use
C-1 · Polk City, IAZoning C-1 · permitted uses
C-1 · Polk City, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
B. C-1 Central Business District. The C-1 District recognizes the unique mixed-use character of the area surrounding the town square. The development regulations are intended to provide for one- and two-family residential uses interspersed with a variety of commercial uses in a harmonious manner.
Zone name
Central Business District
General category
MIXED_USE
Zone area
19.41 ac
Building & site characteristics
From public records
Year built
1984
Construction
FRAME
Heating
YES
Stories
1
Buildings
3
Lot
0.25 ac
Current owner
From public records · entity-resolved
First Choice Renovations LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 483, ANKENY, IA 50021
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Nov 5, 2020
$175,000
First Choice Renovations LLC
S & V Invs LLC
Warranty Deed
—
Nov 7, 2016
$110,000
S & V Invs
Custom Conveyor & Equipment Co
Warranty Deed
—
Apr 10, 2009
$110,000
S & V Investments LLC
Custom Conveyor Corp
Grant Deed
—
Mar 2, 2005
$100,000
Custom Conveyor & Equipment Co
Harmon,carl D & Bevra K
Warranty Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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