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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Flex space
1971 255th St Manchester, IA 52057-8572
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0006119
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2013
Construction
FRAME
Total area
9,150 SF
Lot
2.07 ac (90,169 SF)
APN
250220001810
UPID
US25-0006119
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
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$540k
Owner & transaction history
Robert J Ries · 3 yrs held
Robert J Ries
since 2022
Last sale
$540,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$885,000
+70.6%
Office building
$705,000
+36.1%
Restaurant
$560,000
+7.7%
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 Manchester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manchester 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
$610,000
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$520,000
Current use
WAREHOUSE, STORAGE
$885,000
Change: +71% · Conversion: Easy
OFFICE BUILDING
$705,000
Change: +36% · Conversion: Difficult
RESTAURANT
$560,000
Change: +8% · Conversion: Difficult
RETAIL STORES
$490,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $540k (Sep 30 2022)
Last sale anchor
$540k
Sep 30 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
$59 / 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
$5,306
Tax year 2023
Assessed value
$530,400
Assessed 2024
Previous assessed
$496,600
+6.8% YoY
Effective rate
1.00%
On assessed value
Assessed land
$73,800
Assessed improvement
$456,600
Land market value
$73,800
Improvement market value
$456,600
Total market value
$530,400
Applied tax rate
250.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2013
Construction
FRAME
Stories
1
Total area
9,150 SF
Lot
2.07 ac (90,169 SF)
APN
250220001810
UPID
US25-0006119
Jurisdiction
DELAWARE
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
INDUSTRIAL (GENERAL) Current
Est. value
$520,000
WAREHOUSE, STORAGE
Est. value
$885,000
OFFICE BUILDING
Est. value
$705,000
RESTAURANT
Est. value
$560,000
RETAIL STORES
Est. value
$490,000
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
OFFICE BUILDING
RESTAURANT
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
2013
Construction
FRAME
Stories
1
Lot
2.07 ac
Current owner
From public records · entity-resolved
Robert J Ries
Individual
Free & Clear · 3 yrs held
Mailing address
1784 165TH ST, MANCHESTER, IA 52057-8870
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2022
$540,000
Robert J Ries
Sharon K Koopmann
Warranty Deed
—
Nov 8, 2016
—
Larry D Diervksen
Larry D Diervksen
Intrafamily Transfer
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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