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    1506 Garfield SW St Bondurant, IA 50035-9220
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    Property profile & analytics

    1506 Garfield SW St, Bondurant, IA 50035-9220

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    • Investment properties
    • 5,000 SF
    • 3.18 lot acres
    Off-Market
    Last Sale Feb 22, 2021
    $575,000
    Property ID
    US25-0443414
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    8.7%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Iowa Floor Covering Warehouse / Warehouse & Storage

    Property Details for 1506 Garfield SW St

    Year built
    2018
    Construction
    FRAME
    Lot size
    3.18 lot acres
    Zone code
    U-1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    231/00001-001-003
    APU
    23100001001003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 19, 2025 — Parton Investments LLC — Deed · related $600k · Central Bank
    Feb 22, 2021 $575,000 Tkrg Holdings LLC Swift Properties LLC Warranty Deed $431k · Legacy Bank
    Sep 13, 2018 — Swift Props LLC — Deed · related $600k · Ajp 401k Tr
    Jun 11, 2018 — Swift Props LLC — Deed · related $320k · Lincoln Svgs Bk
    May 21, 2018 $335,000 Johnson Assets LLC Swift Props LLC Warranty Deed · related —
    Oct 5, 2015 $253,000 Swift Properties LLC Gourley Ventures INC Warranty Deed —
    — — Swift Props LLC — Deed Of Trust · related $600k · Ajp 401k Tr
    — — Swift Props LLC — Deed Of Trust · related $320k · Lincoln Svgs Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $570,000
      ML approach
      $605,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $825,000
      6.5%
      $760,000
      7%
      $705,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $497,000
      Market price range: $318k - $857k
      AI Estimate
      $654,000
      Market price range: $172k - $1.14M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $545,000
      Current use
      RESTAURANT
      $860,000
      Change: +57% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $775,000
      Change: +42% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $755,000
      Change: +38% Conversion: Moderate
      MEDICAL BUILDING
      $755,000
      Change: +38% Conversion: Easy
      RETAIL STORES
      $585,000
      Change: +7% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $495,000
      Change: -10% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bondurant
    County
    Polk
    State
    Iowa
    Longitude
    -93.4654
    Latitude
    41.6879
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $7,336
    $497,000
    $100
    $497,100
    -
    $497,000
    $100
    $497,100

    Comparable in this City

    • Value Estimation
      $1,225,000
      7,856 SF

      1350 Pr SW Dr

      OFFICE/RESIDENTIAL (MIXED USE)
      1350 Pr SW Dr, Bondurant, IA 50035-4407
      View Details
    • Value Estimation
      $2,330,000
      14,400 SF

      501 Washington SE Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      501 Washington SE Ave, Bondurant, IA 50035-2123
      View Details
    • Value Estimation
      $630,000
      4,707 SF

      902 2nd NE St

      OFFICE/RESIDENTIAL (MIXED USE)
      902 2nd NE St, Bondurant, IA 50035-1028
      View Details
    • Value Estimation by Request
      3,200 SF

      120 Main SE St

      OFFICE/RESIDENTIAL (MIXED USE)
      120 Main SE St, Bondurant, IA 50035-7721
      View Details
    • Value Estimation by Request
      3,150 SF

      1120 2nd NE St

      OFFICE/RESIDENTIAL (MIXED USE)
      1120 2nd NE St, Bondurant, IA 50035-1018
      View Details
    • Value Estimation
      $555,000
      3,624 SF

      89 Paine SE St

      OFFICE/RESIDENTIAL (MIXED USE)
      89 Paine SE St, Bondurant, IA 50035-1052
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Property For Sale

      Retail property available for sale.
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      Land For Sale

      Land available for sale.
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    • Contact for pricing

      Highway 65 Land Opportunity

      Available development sites and build-to-suit buildings from 1.37-28.18 acres.
      Hwy 65, Bondurant, IA 50035
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    • Contact for pricing

      Industrial Land Available For Sale

      M2 Heavy Industrial land available at $4.50 per square foot.
      NE 88Th St, Bondurant, IA 50035
      View Details
    • $199,900
      3.12 Acres

      3.12 Acre Wooded Lot

      3.12 acre wooded lot in Carpenter Woods development.
      9755 NE Santiago Dr, Bondurant, IA 50035
      View Details
    • $95,000
      0.21 Acres

      Residential Land in Executive Development

      Residential land for sale in Bondurant's newest executive development.
      1705 Summit Cir NE, Bondurant, IA 50035
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,000 SF

      Industrial Warehouse Space Available

      Two 15,000 SF industrial/warehouse buildings for lease.
      1920 NE 78Th Ave, Bondurant, IA 50035
      View Details
    • Contact for pricing
      2,000 SF

      Bondurant Flex Space For Lease

      2,000 sq ft flex space available for lease.
      2404 Robinson Ave NE, Bondurant, IA 50035
      View Details
    • Contact for pricing

      Commercial Space Available For Lease

      Commercial space available for lease in Bondurant, Iowa.
      100 Main St SE, Bondurant, IA 50035
      View Details
    • Contact for pricing
      10,000 SF

      Flex Building Under Construction

      Flex building with outdoor storage, delivery Spring 2026.
      2514 Robinson Ave NE, Bondurant, IA 50035
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Bondurant, Iowa

      Retail space available in Bondurant, near Chichaqua Valley Trail.
      100 Main St, Bondurant, IA 50035
      View Details
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    1506 Garfield SW St
    Bondurant, IA 50035-9220
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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