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Property profile & analytics
OFF-MARKET
Estimated value
$4,860,000
Office buildings
1425 Penn St North Liberty, IA 52317-9150
Entity Owned
Free & Clear
Property ID
US25-2385726
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1994
Construction
CONCRETE
Total area
26,990 SF
Lot
37.19 ac (1,619,996 SF)
APN
611401002
UPID
US25-2385726
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
-
Valley Environmental Services LLC Environmental Consultant
-
L.L. Pelling Co General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.08M
Comparable Approach
Comparable
$3.64M
Blend (final)
Blend
$4.86M
Owner & transaction history
L L PELLING CO
L L PELLING CO
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.9M
+41.9%
Retail stores
$4.2M
+22.0%
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 North Liberty submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Liberty 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%
$5,505,000
6.5%
$5,080,000
7%
$4,720,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,480,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,940,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$4,245,000
Change: +22% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,960,000
Change: -15% · Conversion: Easy
WAREHOUSE, STORAGE
$2,920,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$4.86M
Range $4.37M – $5.35M · ±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
$180 / 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
$113,320
Tax year 2023
Assessed value
$3,522,200
Assessed 2024
Previous assessed
$3,522,200
+0.0% YoY
Effective rate
3.22%
On assessed value
Assessed land
$1,491,100
Assessed improvement
$2,031,100
Total market value
$4,068,500
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1994
Construction
CONCRETE
Buildings
3
Stories
2
Total area
26,990 SF
Lot
37.19 ac (1,619,996 SF)
APN
611401002
UPID
US25-2385726
Jurisdiction
JOHNSON
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
OFFICE BUILDING Current
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.9M
RETAIL STORES
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$3.0M
WAREHOUSE, STORAGE
Est. value
$2.9M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
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
1994
Construction
CONCRETE
Stories
2
Buildings
3
Lot
37.19 ac
Current owner
From public records · entity-resolved
L L PELLING CO
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 230, NORTH LIBERTY, IA 52317-0230
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
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