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Property profile & analytics
OFF-MARKET
Estimated value
$890,000
Office buildings
200 12th St Manchester, IA 52057-2306
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US25-0549120
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Total area
8,308 SF
Lot
1.02 ac (44,431 SF)
APN
631312000660
UPID
US25-0549120
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$888k
Blend (final)
Blend
$890k
Owner & transaction history
Dvde LLC
Dvde LLC
since 2025
Last sale
$890,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+71.9%
Warehouse, storage
$805,000
+25.3%
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
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
OFFICE BUILDING
$640,000
Current use
COMMERCIAL (GENERAL)
$1,105,000
Change: +72% · Conversion: Easy
WAREHOUSE, STORAGE
$805,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$890k
Range $801k – $979k · ±10% · vs last sale $890k (Dec 30 2025)
Last sale anchor
$890k
Dec 30 2025
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
$107 / 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
$25,510
Tax year 2023
Assessed value
$729,800
Assessed 2024
Previous assessed
$808,000
-9.7% YoY
Effective rate
3.50%
On assessed value
Assessed land
$66,700
Assessed improvement
$663,100
Land market value
$66,700
Improvement market value
$663,100
Total market value
$729,800
Applied tax rate
631.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1998
Heating
NONE
Stories
1
Total area
8,308 SF
Lot
1.02 ac (44,431 SF)
APN
631312000660
UPID
US25-0549120
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
OFFICE BUILDING Current
Est. value
$640,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$805,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1998
Heating
NONE
Stories
1
Lot
1.02 ac
Current owner
From public records · entity-resolved
Dvde LLC
Entity
Mailing address
123 9TH AVE SE, OELWEIN, IA 50662-2622
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2025
$890,000
Dvde LLC
Mid County II Corp
Warranty Deed
$712,000 · Bankiowa
Dec 9, 2021
—
Eric Michael Jurgens
—
Deed
related
$435,000 · Usda
Jul 2, 2020
—
Mid County II Corp
—
Deed
related
$240,047 · Community Savings Bank
Dec 23, 2019
—
Mid-county 2 Corp
—
Deed
related
$249,000 · Bank Iowa
Jan 25, 2018
—
Matthew A Wenger
—
Deed
related
$1,400,000 · Usda
Jan 18, 2018
—
Justin M Wenger
—
Deed
related
$140,000 · Usda
Jun 30, 2016
—
Mid County II Corp
—
Deed
related
$96,215 · Community Savings Bank
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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