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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Flex space
205 Garfield St Carlisle, IA 50047-7602
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-1703617
Property summary
AI-generated overview
This Carlisle, Iowa industrial property presents a compelling investment opportunity, currently operating under a net lease (NNN). The 16,991-square-foot flex/warehouse building sits on a 1.2-acre lot and is zoned M-1 Light Industrial. Constructed in phases (1968 and 1972), the property underwent a complete renovation in 2023, boasting a new metal exterior and roof, along with updated office space. The single-tenant building enjoys 100% occupancy, with a five-year lease commencing December 1, 2023, and expiring November 30, 2028. The lease includes annual rent bumps of 2%. The property features two loading docks and offers a strong cap rate of 7.55% at an asking price of $1,370,000 ($80.63/SF). This NNN investment is ideal for those seeking a stable, long-term income stream. The sale includes parcels 39560000130 and 39560000151. This property is located at 205 S Garfield St, Carlisle, IA 50047.
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1968
Total area
16,992 SF
Lot
1.2 ac (52,446 SF)
APN
39560000130
UPID
US25-1703617
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
$640k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$646k
Blend (final)
Blend
$595k
Owner & transaction history
Garfield Jv23 LLC · 3 yrs held
Garfield Jv23 LLC
since 2023
Last sale
$525,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Carlisle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carlisle 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
$645,000
ML approach
$640,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $525k (Jun 14 2023)
Last sale anchor
$525k
Jun 14 2023
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
$35 / 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
$7,180
Tax year 2023
Assessed value
$272,000
Assessed 2024
Previous assessed
$272,000
+0.0% YoY
Effective rate
2.64%
On assessed value
Assessed land
$42,600
Assessed improvement
$229,400
Land market value
$42,600
Improvement market value
$229,400
Total market value
$272,000
Applied tax rate
39,100.0000
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
1968
Stories
1
Total area
16,992 SF
Lot
1.2 ac (52,446 SF)
APN
39560000130
UPID
US25-1703617
Jurisdiction
WARREN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1968
Stories
1
Lot
1.2 ac
Current owner
From public records · entity-resolved
Garfield Jv23 LLC
Entity
Mailing address
12951 UNIVERSITY AVE STE #200, CLIVE, IA 50325-8293
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2024
—
Mrp 1031 L.l.c
—
Deed
related
$1,000,000 · Dubuque Bank & Trust Co
Jun 14, 2023
$525,000
Garfield Jv23 LLC
Ikh Properties LLC
Warranty Deed
$393,750 · Bank Iowa
Dec 13, 2011
—
Ikh Properties LLC
William O Welch
Warranty Deed
$148,750 · Mutual Of Omaha 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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