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Property profile & analytics
OFF-MARKET
Estimated value
$1,785,000
Office Spaces
1850 Boyson Rd, Hiawatha, IA 52233-2348
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0374229
Property summary
AI-generated overview
This exceptional 2,400 square foot single-tenant office building is ideally situated in Hiawatha, Iowa, at 1850 BOISON Road, ZIP code 52233. The property, identified by APN 11311-77003-00000, is zoned C-4 and offers a convenient single-suite occupancy. The building itself is well-maintained and presents a fantastic opportunity for a business seeking a comfortable and functional workspace. Ample off-street parking is available, providing convenient access for employees and clients. Its strategic location offers easy access to Interstate 380, enhancing its appeal for businesses requiring convenient highway access. The property is available for occupancy beginning August 1st, 2024. This is a single-building property with one suite, making it an ideal solution for a business seeking a self-contained office space. The property's location in Hiawatha, Iowa, provides access to a thriving local community and its amenities. This is a rare opportunity to acquire a well-located, well-maintained office building in a desirable market. Serious inquiries are encouraged.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1996
Total area
21,000 SF
Lot
2.88 ac (125,453 SF)
APN
11-31-1-77-003-0-0000
UPID
US25-0374229
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
$1.83M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.57M
Blend (final)
Blend
$1.79M
Owner & transaction history
Jjo LLC · 4 yrs held
Jjo LLC
since 2021
Last sale
$2.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+79.1%
Auto repair, garage
$2.2M
+68.7%
Neighborhood: shopping center
$2.2M
+62.4%
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 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
$1,770,000
ML approach
$1,830,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,330,000
Current use
RESTAURANT
$2,375,000
Change: +79% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,240,000
Change: +69% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,155,000
Change: +62% · Conversion: Difficult
MEDICAL BUILDING
$2,095,000
Change: +58% · Conversion: Easy
RETAIL STORES
$1,690,000
Change: +27% · Conversion: Easy
OFFICE BUILDING
$1,665,000
Change: +25% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,285,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$1.79M
Range $1.61M – $1.96M · ±10% · vs last sale $2.00M (Oct 4 2021)
Last sale anchor
$2.00M
Oct 4 2021
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
$85 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$71,524
Tax year 2022
Assessed value
$2,359,100
Assessed 2023
Previous assessed
$2,359,100
+0.0% YoY
Effective rate
3.03%
On assessed value
Assessed land
$951,600
Assessed improvement
$1,407,500
Land market value
$951,600
Improvement market value
$1,407,500
Total market value
$2,359,100
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Total area
21,000 SF
Lot
2.88 ac (125,453 SF)
APN
11-31-1-77-003-0-0000
UPID
US25-0374229
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
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.1M
RETAIL STORES
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1996
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
2.88 ac
Current owner
From public records · entity-resolved
Jjo LLC
Entity
Mailing address
5167 UTICA RDG RD, DAVENPORT, IA 52807-3863
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 4, 2021
$2,000,000
Jjo LLC
Djb Properties Lc
Warranty Deed
—
Jul 8, 2019
—
Djb Props Lc
—
Deed
related
$1,360,638 · Farmers St Bk
Jun 3, 2014
$2,175,000
Djb Properties Lc
Hall & Hall Properties LLC
Trustees Deed
$2,175,000 · Guaranty Bk
Jun 3, 2014
$1,500,000
Hall & Hall Properties LLC
Mccartan Thomas F Trust
Warranty Deed
—
Mar 5, 2012
—
Mccartan,m Susan Trust
Wells Fargo Bk NA
Grant Deed
related
—
Dec 22, 2011
$623,052
Hall & Hall Properties LLC
Mccartan Thomas F Trust
Grant Deed
—
Oct 6, 2009
—
Thomas F Mccartan
—
Trustees Deed
related
$138,150 · Wells Fargo Bank
—
—
Mccartan Thomas F Trust
—
Deed Of Trust
related
$895,000 · Wells Fargo Bank
—
—
Mccartan Thomas F & M Susan Trust
—
Deed Of Trust
related
$150,000 · Bank Iowa
—
—
Hall & Hall Properties LLC
—
Deed Of Trust
related
$140,000 · Guaranty Bank
—
—
Djb Props Lc
—
Deed Of Trust
related
$1,360,638 · Farmers St Bk
—
—
Hall & Hall Properties LLC
—
Deed Of Trust
related
$45,000 · Guaranty Bank
—
—
Thomas F Mccartan
—
Deed Of Trust
related
$200,000 · Wells Fargo Bank
—
—
Thomas F Mccartan
—
Deed Of Trust
related
$546,463 · Wells Fargo Bank
—
—
Mccartan Thomas F & M S Trust
—
Deed Of Trust
related
$728,000 · Bank Iowa
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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