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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Warehouses
1409 2nd NE St Bondurant, IA 50035-1381
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US25-0279371
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2003
Construction
FRAME
Total area
10,000 SF
Lot
5.12 ac (222,844 SF)
Zoning code
C-2
APN
231/00033-004-001
UPID
US25-0279371
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
-
Plaza RV Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.19M
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$880k
Owner & transaction history
Edwards Properties LLC · 9 yrs held
Edwards Properties LLC
since 2017
4 recorded transactions
Zoning & alternative use
C-2 · Bondurant, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+36.8%
Commercial (general)
$1.1M
+28.2%
Neighborhood: shopping center
$985,000
+15.6%
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 Bondurant submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bondurant 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%
$1,290,000
6.5%
$1,190,000
7%
$1,105,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$855,000
Current use
RETAIL STORES
$1,165,000
Change: +37% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,095,000
Change: +28% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$985,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$880k
Range $792k – $968k · ±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
$88 / 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
$46,878
Tax year 2023
Assessed value
$1,420,000
Assessed 2024
Previous assessed
$1,420,000
+0.0% YoY
Effective rate
3.30%
On assessed value
Assessed land
$1,000,000
Assessed improvement
$420,000
Land market value
$1,000,000
Improvement market value
$420,000
Total market value
$1,420,000
Applied tax rate
4.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2003
Construction
FRAME
Heating
NONE
Cooling
YES
Buildings
1
Stories
1
Total area
10,000 SF
Lot
5.12 ac (222,844 SF)
Zoning code
C-2
APN
231/00033-004-001
UPID
US25-0279371
Jurisdiction
POLK
Zoning & alternative use
C-2 · Bondurant, IA
Zoning C-2 · permitted uses
C-2 · Bondurant, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bondurant. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$855,000
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$985,000
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
2003
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
5.12 ac
Current owner
From public records · entity-resolved
Edwards Properties LLC
Entity
Mailing address
1409 2ND ST NE, BONDURANT, IA 50035-1381
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
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
Apr 19, 2017
—
Edwards Properties LLC
—
Deed
related
$825,000 · First American Bank
Jan 12, 2007
—
Edwards Properties LLC
—
Trustees Deed
related
$400,000 · Legacy Bank
—
—
Edwards Properties LLC
—
Deed Of Trust
related
$571,150 · Bank Iowa
—
—
Edwards Properties LLC
—
Deed Of Trust
related
$25,000 · 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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