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Property profile & analytics
OFF-MARKET
Estimated value
$5,175,000
Industrial properties
1435 Northridge Cir Altoona, IA 50009-2290
Individually Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-2437101
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2017
Construction
STEEL FRAME
Total area
48,171 SF
Lot
7.31 ac (318,539 SF)
APN
171/00236-865-001
UPID
US25-2437101
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
$5.42M
Blend (final)
Blend
$5.18M
Owner & transaction history
Witmer,jerry L · 18 yrs held
Witmer,jerry L
since 2008
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.3M
+106.4%
Auto repair, garage
$7.5M
+86.2%
Apartment house (5+ units)
$7.3M
+81.5%
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
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
INDUSTRIAL (GENERAL)
$4,020,000
Current use
RESTAURANT
$8,295,000
Change: +106% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,480,000
Change: +86% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$7,290,000
Change: +81% · Conversion: Difficult
MEDICAL BUILDING
$7,270,000
Change: +81% · Conversion: Difficult
RETAIL STORES
$5,620,000
Change: +40% · Conversion: Moderate
COMMERCIAL (GENERAL)
$5,270,000
Change: +31% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,750,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$5.18M
Range $4.66M – $5.69M · ±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
$107 / 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
$492,408
Tax year 2023
Assessed value
$14,200,000
Assessed 2024
Previous assessed
$14,200,000
+0.0% YoY
Effective rate
3.47%
On assessed value
Assessed land
$1,470,000
Assessed improvement
$12,730,000
Land market value
$1,470,000
Improvement market value
$12,730,000
Total market value
$14,200,000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
2017
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Stories
1
Total area
48,171 SF
Lot
7.31 ac (318,539 SF)
APN
171/00236-865-001
UPID
US25-2437101
Jurisdiction
POLK
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
INDUSTRIAL (GENERAL) Current
Est. value
$4.0M
RESTAURANT
Est. value
$8.3M
AUTO REPAIR, GARAGE
Est. value
$7.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.3M
MEDICAL BUILDING
Est. value
$7.3M
RETAIL STORES
Est. value
$5.6M
COMMERCIAL (GENERAL)
Est. value
$5.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.8M
INDUSTRIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
2017
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
2
Lot
7.31 ac
Current owner
From public records · entity-resolved
Witmer,jerry L
Individual
Free & Clear · 18 yrs held
Mailing address
909 LOCUST ST STE #301, DES MOINES, IA 50309-2814
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
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
Jan 10, 2019
—
Edge Business Continuity Center LLC
—
Deed
related
$6,750,000 · Us Bank NA
Aug 14, 2018
—
Edge Business Continuity Center LLC
—
Deed
related
$1,700,000 · Us Bank NA
May 9, 2008
$582,500
Witmer,jerry L
Lb Properties Vi LLC
Warranty Deed
—
—
—
Edge Busn Continuity Center Ll
—
Loan Modification
related
$12,851,455 · Us Bk
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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