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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Flex space
22858 Horse Crk Ln Milford, IA 51351
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US25-1503533
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2018
Construction
FRAME
Total area
8,320 SF
Lot
0.33 ac (14,418 SF)
APN
1012452005
UPID
US25-1503533
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
$580k
Comparable Approach
Comparable
$579k
Blend (final)
Blend
$580k
Owner & transaction history
Halbur Land Co LLC · 8 yrs held
Halbur Land Co LLC
since 2018
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$930,000
+82.1%
Restaurant
$845,000
+65.5%
Neighborhood: shopping center
$765,000
+49.4%
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 Milford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milford 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%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$510,000
Current use
COMMERCIAL (GENERAL)
$930,000
Change: +82% · Conversion: Difficult
RESTAURANT
$845,000
Change: +65% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$765,000
Change: +49% · Conversion: Difficult
RETAIL STORES
$580,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$70 / 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
$7,486
Tax year 2023
Assessed value
$562,700
Assessed 2024
Previous assessed
$562,700
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$21,600
Assessed improvement
$541,100
Land market value
$21,600
Improvement market value
$541,100
Total market value
$562,700
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2018
Construction
FRAME
Stories
1
Total area
8,320 SF
Lot
0.33 ac (14,418 SF)
APN
1012452005
UPID
US25-1503533
Jurisdiction
DICKINSON
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
INDUSTRIAL (GENERAL) Current
Est. value
$510,000
COMMERCIAL (GENERAL)
Est. value
$930,000
RESTAURANT
Est. value
$845,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$765,000
RETAIL STORES
Est. value
$580,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
2018
Construction
FRAME
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Halbur Land Co LLC
Entity
Mailing address
PO BOX 711, ARNOLDS PARK, IA 51331-0711
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2018
—
Halbur Land Co LLC
—
Deed
related
$300,000 · United Community 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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