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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Warehouses
216 Alexander Ave Ames, IA 50010-6476
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US25-0502047
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1992
Construction
FRAME
Total area
7,600 SF
Lot
1.56 ac (67,972 SF)
Zoning code
GI
APN
10-07-110-030
UPID
US25-0502047
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
-
Schuling Hitch Co Of Ames Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$605k
Comparable Approach
Comparable
$456k
Blend (final)
Blend
$570k
Owner & transaction history
Schuling Hitch Company Of Ames · 8 yrs held
Schuling Hitch Company Of Ames
since 2017
2 recorded transactions
Zoning & alternative use
GI · Ames, IA
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 Ames submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ames 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%
$660,000
6.5%
$605,000
7%
$565,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$915,000
Current use
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$75 / 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
$10,708
Tax year 2023
Assessed value
$461,000
Assessed 2024
Previous assessed
$461,000
+0.0% YoY
Effective rate
2.32%
On assessed value
Assessed land
$149,500
Assessed improvement
$311,500
Land market value
$149,500
Improvement market value
$311,500
Total market value
$461,000
Applied tax rate
1,001.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1992
Construction
FRAME
Heating
NONE
Stories
1
Total area
7,600 SF
Lot
1.56 ac (67,972 SF)
Zoning code
GI
APN
10-07-110-030
UPID
US25-0502047
Jurisdiction
STORY
Zoning & alternative use
GI · Ames, IA
Zoning GI · permitted uses
GI · Ames, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ames. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$915,000
WAREHOUSE, STORAGE Current
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
1992
Construction
FRAME
Heating
NONE
Stories
1
Lot
1.56 ac
Current owner
From public records · entity-resolved
Schuling Hitch Company Of Ames
Entity
Mailing address
216 ALEXANDER AVE, AMES, IA 50010-6476
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
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
Aug 16, 2017
—
Schuling Hitch Company Of Ames
Schuling Hitch Company
Quit Claim Deed
related
—
Aug 15, 2011
$600,000
United Suppliers INC
Hawkeye Renewables LLC
Warranty Deed
—
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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