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Property profile & analytics
OFF-MARKET
Estimated value
$2,700,000
Warehouses
1575 Ketelsen Dr Hiawatha, IA 52233-2220
Entity Owned
Free & Clear
Property ID
US25-1001295
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2020
Construction
STEEL FRAME
Total area
39,219 SF
Lot
3.84 ac (167,270 SF)
APN
11-29-3-51-013-0-0000
UPID
US25-1001295
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
-
D & K Products Big Box & Wholesale Store Agricultural Supply
-
Allied Glass Products Hardware & Home Improvement Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.56M
Comparable Approach
Comparable
$2.61M
Blend (final)
Blend
$2.70M
Owner & transaction history
HIAWATHA PROPERTIES LLC
HIAWATHA PROPERTIES LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.4M
+120.8%
Auto repair, garage
$4.2M
+108.0%
Neighborhood: shopping center
$4.0M
+100.2%
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 Hiawatha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hiawatha 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%
$3,855,000
6.5%
$3,560,000
7%
$3,305,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,010,000
Current use
RESTAURANT
$4,440,000
Change: +121% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,185,000
Change: +108% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$4,025,000
Change: +100% · Conversion: Moderate
MEDICAL BUILDING
$3,915,000
Change: +95% · Conversion: Difficult
RETAIL STORES
$3,155,000
Change: +57% · Conversion: Moderate
OFFICE BUILDING
$3,105,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,480,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$2.70M
Range $2.43M – $2.97M · ±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
$69 / 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
$107,156
Tax year 2023
Assessed value
$3,380,700
Assessed 2024
Previous assessed
$3,380,700
+0.0% YoY
Effective rate
3.17%
On assessed value
Assessed land
$949,000
Assessed improvement
$2,431,700
Land market value
$949,000
Improvement market value
$2,431,700
Total market value
$3,380,700
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2020
Construction
STEEL FRAME
Total area
39,219 SF
Lot
3.84 ac (167,270 SF)
APN
11-29-3-51-013-0-0000
UPID
US25-1001295
Jurisdiction
LINN
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
$2.0M
RESTAURANT
Est. value
$4.4M
AUTO REPAIR, GARAGE
Est. value
$4.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$3.9M
RETAIL STORES
Est. value
$3.2M
OFFICE BUILDING
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$2.5M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
RETAIL STORES
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
2020
Construction
STEEL FRAME
Lot
3.84 ac
Current owner
From public records · entity-resolved
HIAWATHA PROPERTIES LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 236, HIAWATHA, IA 52233-0236
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.
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