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    2221 Brickyard Rd Adel, IA 50003-8300
    Property profile & analytics

    2221 Brickyard Rd, Adel, IA 50003-8300

    View on Map
    • Warehouses
    • 6,000 SF
    • 2.77 lot acres
    Off-Market
    Last Sale Jan 25, 2023
    $600,000
    Property ID
    US25-0012960
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $660,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Star's auto sales llc / Car Dealership
    • Stars auto / Car Dealership

    Property Details for 2221 Brickyard Rd

    Year built
    2003
    Construction
    FRAME
    Lot size
    2.77 lot acres
    Property type
    Warehouses
    APN
    1131126012
    APU
    1131126012

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 7, 2024 — Tjb Holdings LLC Iowa Spring Manufacturing & Sales C Warranty Deed —
    Jan 25, 2023 $600,000 Tjb Holdings LLC Jeg Holdings LLC Warranty Deed —
    Aug 23, 2017 — Jeg Holdings LLC Griesel,joseph S & Elizabeth J Quit Claim Deed · related —
    Jan 17, 2017 $309,000 Joseph S Griesel Rolfes Real Estate LLC Warranty Deed $309k · Earlham Svgs Bk
    Dec 15, 2008 $360,000 Rolfes Real Estate LLC Kam Ents LLC Warranty Deed —
    Feb 9, 2007 $259,000 Kam Ents LLC Esi Investments LLC Warranty Deed $451k · Community State Bank
    — — Rolfes Real Estate LLC — Deed Of Trust · related $670k · First American Bank
    — — Kam Ents LLC — Deed Of Trust · related $192k · Corporation For Economic Dev
    — — Esi Investments LLC — Deed Of Trust · related $170k · First American Bank
    — — Rolfes Real Estate LLC — Deed Of Trust · related $480k · First American Bank
    — — Esi Investments LLC — Deed Of Trust · related $25k · Dallas County

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $720,000
      ML approach
      $705,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $662,000
      Market price range: $274k - $1.19M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $730,000
      Current use
      AUTO REPAIR, GARAGE
      $940,000
      Change: +28% Conversion: Easy
      OFFICE BUILDING
      $855,000
      Change: +17% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Adel
    County
    Dallas
    State
    Iowa
    Longitude
    -94.0378
    Latitude
    41.6143
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,496
    $96,530
    $287,620
    $384,150
    -
    $96,530
    $287,620
    $384,150

    Comparable in this City

    • Value Estimation by Request
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      120 Nile Kinnick N Dr

      WAREHOUSE, STORAGE
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      310 6th St

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      503 7th St

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      6,000 SF

      27984 Fairground Rd

      WAREHOUSE, STORAGE
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    • Value Estimation by Request
      2,268 SF

      1820 Main St

      WAREHOUSE, STORAGE
      1820 Main St, Adel, IA 50003-1329
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      106,375 SF

      Warehouse with Outdoor Storage Allowed

      Warehouse featuring outdoor storage, office, breakroom, and sprinkler system.
      26378 289Th Pl, Adel, IA 50003
      View Details
    • $205,000
      Pending

      Residential Land in Adel, Iowa

      Large residential lots with paved access and city sewer.
      2701 Southbridge Dr, Adel, IA 50003
      View Details
    • $250,000
      5.00 Acres

      Acreage in Van Meter District

      5 acres to build your dream home, no HOA!
      1 Old Portland Rd, Adel, IA 50003
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    • $89,900
      1.30 Acres

      Residential Land in Adel, Iowa

      1.3 acre lot ready for new home construction.
      Mill Creek Dr, Adel, IA 50003
      View Details
    • $585,000
      Pending

      Secluded Timber Homesites Near Adel

      10-acre executive lots in mature timber, close to Waukee.
      31301 S Ave, Adel, IA 50003
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    • $595,000
      Pending

      Secluded Timber Homesites Near Adel

      10-acre executive lots in mature timber, close to Waukee.
      31303 S Ave, Adel, IA 50003
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Divisible Flex Space in Adel

      Flexible spaces available in Adel, Iowa with high ceilings.
      27759 Fairground Rd, Adel, IA 50003
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    • Contact for pricing
      3,600 SF

      Flexible Industrial Space Available

      Divisible industrial spaces with 14' ceilings in Adel, Iowa.
      26416 289Th Pl, Adel, IA 50003
      View Details
    • Contact for pricing
      6,000 SF

      Flexible Industrial Space in Adel

      Divisible industrial space with 20' clear height and overhead door.
      27759 Fairground Rd, Adel, IA 50003
      View Details
    • Contact for pricing

      Flexible Space in Adel, Iowa

      Divisible flex spaces with overhead doors and HVAC for rent.
      26416 289Th Pl, Adel, IA 50003
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space Near New School

      Retail space for lease near upcoming ADM High School.
      711 Cmn Pl, Adel, IA 50003
      View Details
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    2221 Brickyard Rd
    Adel, IA 50003-8300
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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