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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Warehouses
1980 State St, Ely, IA 52227-9773
Individually Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0437069
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2022
Total area
7,728 SF
Lot
9.23 ac (402,059 SF)
APN
18-30-3-26-003-0-0000
UPID
US25-0437069
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
-
Larson Leasing Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$550k
Blend (final)
Blend
$750k
Owner & transaction history
Larson Leasing Lc · 7 yrs held
Larson Leasing Lc
since 2018
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$875,000
+120.8%
Auto repair, garage
$825,000
+108.0%
Neighborhood: shopping center
$795,000
+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 Ely submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ely 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
RESTAURANT
$875,000
Change: +121% · Conversion: Difficult
AUTO REPAIR, GARAGE
$825,000
Change: +108% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$795,000
Change: +100% · Conversion: Moderate
MEDICAL BUILDING
$770,000
Change: +95% · Conversion: Difficult
RETAIL STORES
$620,000
Change: +57% · Conversion: Moderate
OFFICE BUILDING
$610,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$490,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$750k
Range $675k – $825k · ±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
$97 / 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
$31,532
Tax year 2023
Assessed value
$1,060,600
Assessed 2024
Previous assessed
$1,060,600
+0.0% YoY
Effective rate
2.97%
On assessed value
Assessed land
$219,300
Assessed improvement
$841,300
Land market value
$219,300
Improvement market value
$841,300
Total market value
$1,060,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2022
Heating
FORCED AIR
Buildings
6
Stories
1
Total area
7,728 SF
Lot
9.23 ac (402,059 SF)
APN
18-30-3-26-003-0-0000
UPID
US25-0437069
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
RESTAURANT
Est. value
$875,000
AUTO REPAIR, GARAGE
Est. value
$825,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$795,000
MEDICAL BUILDING
Est. value
$770,000
RETAIL STORES
Est. value
$620,000
OFFICE BUILDING
Est. value
$610,000
COMMERCIAL (GENERAL)
Est. value
$490,000
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
2022
Heating
FORCED AIR
Stories
1
Buildings
6
Lot
9.23 ac
Current owner
From public records · entity-resolved
Larson Leasing Lc
Individual
Free & Clear · 7 yrs held
Mailing address
5650 6TH ST SW, CEDAR RAPIDS, IA 52404-4810
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2018
$675,000
Larson Leasing Lc
Roto Hldgs LLC
Warranty Deed
—
Nov 29, 2012
$375,000
Roto Holdings LLC
Wolf,john & Patricia M
Warranty Deed
related
$402,750 · Hills Bank & Trust Co
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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