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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Strip malls
116 1st N Ave Altoona, IA 50009-1425
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US25-0310226
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2014
Construction
FRAME
Total area
6,600 SF
Lot
0.77 ac (33,589 SF)
Zoning code
C-2
APN
171/00176-007-802
UPID
US25-0310226
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
$480k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$634k
Blend (final)
Blend
$570k
Owner & transaction history
Johnhopp LLC · 5 yrs held
Johnhopp LLC
since 2020
Last sale
$615,500
7 recorded transactions
Zoning & alternative use
C-2 · Altoona, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$770,000
+18.3%
Commercial (general)
$720,000
+11.0%
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 Altoona submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Altoona 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
$505,000
ML approach
$480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$650,000
Current use
RETAIL STORES
$770,000
Change: +18% · Conversion: Easy
COMMERCIAL (GENERAL)
$720,000
Change: +11% · Conversion: Easy
WAREHOUSE, STORAGE
$565,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$570k
Range $513k – $627k · ±10% · vs last sale $616k (Dec 1 2020)
Last sale anchor
$616k
Dec 1 2020
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
$86 / 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
$22,250
Tax year 2020
Assessed value
$909,000
Assessed 2023
Previous assessed
$909,000
+0.0% YoY
Effective rate
2.45%
On assessed value
Assessed land
$111,000
Assessed improvement
$798,000
Land market value
$111,000
Improvement market value
$798,000
Total market value
$909,000
Applied tax rate
3.0000
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
2014
Construction
FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
6,600 SF
Lot
0.77 ac (33,589 SF)
Zoning code
C-2
APN
171/00176-007-802
UPID
US25-0310226
Jurisdiction
POLK
Zoning & alternative use
C-2 · Altoona, IA
Zoning C-2 · permitted uses
C-2 · Altoona, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Altoona. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$650,000
RETAIL STORES
Est. value
$770,000
COMMERCIAL (GENERAL)
Est. value
$720,000
WAREHOUSE, STORAGE
Est. value
$565,000
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
2014
Construction
FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
0.77 ac
Current owner
From public records · entity-resolved
Johnhopp LLC
Entity
Mailing address
PO BOX 495, ALTOONA, IA 50009-0495
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2025
—
Johnhopp LLC
—
Deed
related
$700,000 · Greenstate Cu
Dec 1, 2020
$615,500
Johnhopp LLC
Robert E Johnston
Warranty Deed
$665,000 · Legacy Bank
Mar 20, 2020
—
Robert E Johnston
—
Deed
related
$463,725 · Bank Iowa
Apr 2, 2014
—
Thomas R Johnston
Johnston,joy E
Quit Claim Deed
related
—
Feb 3, 2014
$160,000
Robert E Johnston
Johnston,thomas R
Warranty Deed
related
—
—
—
Robert E Johnston
—
Deed Of Trust
related
$825,000 · Bank Iowa
—
—
Thomas R Johnston
—
Deed Of Trust
related
$1,000,000 · Great Western Bank
—
—
Robert E Johnston
—
Deed Of Trust
related
$463,725 · Bank Iowa
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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