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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Medical Office Space
1631 Logan Ave, Waterloo, IA 50703-1237
Entity Owned
7-yr Hold
Free & Clear
Property ID
US25-0000047
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2019
Total area
11,036 SF
Lot
2.58 ac (112,384 SF)
APN
8913-14-276-020
UPID
US25-0000047
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
-
Mitchell H. Fonley, MPT Physician
-
Raymond J. Harrington, PT Medical Clinic
-
Thomas S. Gorsche, M.D. - Cedar Valley Orthopedics Physician
-
Cedar Valley Orthopedics and Physical Therapy Medical Clinic
-
Stephanie R. Smith, ARNP - Cedar Valley Orthopedics Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$794k
Blend (final)
Blend
$880k
Owner & transaction history
Gbg LLC · 7 yrs held
Gbg LLC
since 2018
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+138.4%
Restaurant
$1.4M
+131.5%
Warehouse, storage
$875,000
+46.4%
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 Waterloo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waterloo 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
MEDICAL BUILDING
$600,000
Current use
COMMERCIAL (GENERAL)
$1,430,000
Change: +138% · Conversion: Easy
RESTAURANT
$1,385,000
Change: +131% · Conversion: Difficult
WAREHOUSE, STORAGE
$875,000
Change: +46% · Conversion: Difficult
RETAIL STORES
$805,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$790,000
Change: +32% · Conversion: Easy
AUTO REPAIR, GARAGE
$775,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$880k
Range $792k – $968k · ±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
$80 / 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
$74,190
Tax year 2023
Assessed value
$1,984,060
Assessed 2024
Previous assessed
$1,984,060
+0.0% YoY
Effective rate
3.74%
On assessed value
Assessed land
$164,500
Assessed improvement
$1,819,560
Land market value
$164,500
Improvement market value
$1,819,560
Total market value
$1,984,060
Applied tax rate
940,001.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2019
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
11,036 SF
Lot
2.58 ac (112,384 SF)
APN
8913-14-276-020
UPID
US25-0000047
Jurisdiction
BLACK HAWK
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
MEDICAL BUILDING Current
Est. value
$600,000
COMMERCIAL (GENERAL)
Est. value
$1.4M
RESTAURANT
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$875,000
RETAIL STORES
Est. value
$805,000
OFFICE BUILDING
Est. value
$790,000
AUTO REPAIR, GARAGE
Est. value
$775,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
WAREHOUSE, STORAGE
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2019
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.58 ac
Current owner
From public records · entity-resolved
Gbg LLC
Entity
Free & Clear · 7 yrs held
Mailing address
1633 DAKOTA DR, WATERLOO, IA 50701-9767
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 27, 2018
$250,000
Gbg LLC
Waterloo Communitu School
Warranty Deed
—
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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