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Property profile & analytics
OFF-MARKET
Estimated value
$3,390,000
Warehouses
1600 Mcpherson Ave Council Bluffs, IA 51503-4858
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0398641
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1970
Total area
56,878 SF
Lot
5.52 ac (240,451 SF)
Zoning code
C-2
APN
7543 29 376 004
UPID
US25-0398641
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
-
Beverly Patterson, PTA Medical Clinic
-
Denise M. Collins, OTR Physician
-
Anna Shields, PTA Physician
-
Brenda Sennett Physician
-
Teresa Nelson Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.94M
Blend (final)
Blend
$3.39M
Owner & transaction history
Andrew Properties LLC · 3 yrs held
Andrew Properties LLC
since 2022
Last sale
$4.0M
7 recorded transactions
Zoning & alternative use
C-2 · Council Bluffs, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.1M
+21.4%
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 Council Bluffs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Council Bluffs 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
$3,460,000
ML approach
$3,440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,560,000
Current use
RETAIL STORES
$3,105,000
Change: +21% · Conversion: Moderate
Blend value · Realmo final
$3.39M
Range $3.05M – $3.73M · ±10% · vs last sale $3.98M (Jul 19 2022)
Last sale anchor
$3.98M
Jul 19 2022
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
$60 / 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
$103,144
Tax year 2023
Assessed value
$2,736,700
Assessed 2024
Previous assessed
$2,736,700
+0.0% YoY
Effective rate
3.77%
On assessed value
Assessed land
$213,000
Assessed improvement
$2,523,700
Land market value
$213,000
Improvement market value
$2,523,700
Total market value
$2,736,700
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1970
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
34
Total area
56,878 SF
Lot
5.52 ac (240,451 SF)
Zoning code
C-2
APN
7543 29 376 004
UPID
US25-0398641
Jurisdiction
POTTAWATTAMIE
Zoning & alternative use
C-2 · Council Bluffs, IA
Zoning C-2 · permitted uses
C-2 · Council Bluffs, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Council Bluffs. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.6M
RETAIL STORES
Est. value
$3.1M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
1970
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
34
Lot
5.52 ac
Current owner
From public records · entity-resolved
Andrew Properties LLC
Entity
Mailing address
3835 CALIFORNIA ST, OMAHA, NE 68131-1806
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2022
$3,979,000
Andrew Properties LLC
Indian Hills Holdings INC
Warranty Deed
$2,380,000 · Availa Bank
Nov 5, 2021
—
Indian Hills Holdings INC
—
Deed
related
$1,254,054 · Availa Bank
Mar 3, 2021
—
Indian Hills Holdings INC
—
Deed
related
$2,097,102 · Premier Bank
Jul 15, 2019
—
Indian Hills Holdings INC
—
Deed
related
$2,097,102 · Premier Bank
Sep 12, 2018
$420,000
Indian Hills Hldgs INC
Drickey,neal S & Melinda
Warranty Deed
—
Jun 20, 2017
—
Council Bluffs Healthcare Inve
—
Deed
related
$2,100,000 · Iberia Bk
Jan 6, 2014
$2,150,000
Council Bluffs Healthcare Invt
Duemeland Mgmt & Inv Lllp
Grant Deed
$3,000,000 · Georgia Cmrc Bk
—
—
Council Bluffs Healthcare Inve
—
Loan Modification
related
$2,100,000 · Iberia 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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