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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Refrigerated & Cold Storage
1300 2nd St Cherokee, IA 51012-2182
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0007097
Property profile
Verified
Property type
Refrigerated & Cold Storage
Use group
COLD STORAGE
Year built
2022
Total area
8,900 SF
Lot
3.56 ac (155,073 SF)
APN
1103251007
UPID
US25-0007097
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
-
Hy-Vee Floral (Bike/Boat/Book/etc) Store Florist
-
Hy-Vee Pharmacy Pharmacy
-
Cherokee Locker Food Processing Plant
-
US Post Office Post Office
-
Hy-Vee Bakery Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$775k
Owner & transaction history
Cherokee Locker Investment INC · 3 yrs held
Cherokee Locker Investment INC
since 2022
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$965,000
+20.6%
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 Cherokee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cherokee 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
WAREHOUSE, STORAGE
$800,000
Current use
OFFICE BUILDING
$965,000
Change: +21% · Conversion: Difficult
COMMERCIAL (GENERAL)
$730,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$775k
Range $698k – $853k · ±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 2023Property tax & assessments
Tax year 2023
Tax billed
$19,906
Tax year 2023
Assessed value
$1,266,280
Assessed 2024
Previous assessed
$1,266,280
+0.0% YoY
Effective rate
1.57%
On assessed value
Assessed land
$80,000
Assessed improvement
$1,186,280
Land market value
$80,000
Improvement market value
$1,186,280
Total market value
$1,266,280
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
Refrigerated & Cold Storage
Use group
COLD STORAGE
Status
Off-Market
Year built
2022
Stories
1
Total area
8,900 SF
Lot
3.56 ac (155,073 SF)
APN
1103251007
UPID
US25-0007097
Jurisdiction
CHEROKEE
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
WAREHOUSE, STORAGE Current
Est. value
$800,000
OFFICE BUILDING
Est. value
$965,000
COMMERCIAL (GENERAL)
Est. value
$730,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
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
2022
Stories
1
Lot
3.56 ac
Current owner
From public records · entity-resolved
Cherokee Locker Investment INC
Entity
Mailing address
124 E MAIN ST, CHEROKEE, IA 51012-1850
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Nov 18, 2022
—
Cherokee Locker Investment INC
Cherokee Locker INC
Intrafamily Transfer
related
$1,200,000 · Central Bank
Apr 14, 2015
—
Cherokee Industrial Corporation
Olhausen Mobile Manor INC
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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