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Property profile & analytics
OFF-MARKET
Warehouses
229 9th St Boone, IA 50036
Individually Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-1366867
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Construction
FRAME
Total area
3,600 SF
Lot
0.48 ac (20,909 SF)
Zoning code
INC
APN
88426213382099
UPID
US25-1366867
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Kevin Ryan Majors · 2 yrs held
Kevin Ryan Majors
since 2024
1 recorded transaction
Zoning & alternative use
INC · Boone, 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 Boone submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boone 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,004
Tax year 2023
Assessed value
$56,626
Assessed 2024
Previous assessed
$56,626
+0.0% YoY
Effective rate
1.77%
On assessed value
Assessed land
$24,265
Assessed improvement
$32,361
Land market value
$24,265
Improvement market value
$32,361
Total market value
$56,626
Applied tax rate
620.0000
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
1990
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
1
Total area
3,600 SF
Lot
0.48 ac (20,909 SF)
Zoning code
INC
APN
88426213382099
UPID
US25-1366867
Jurisdiction
BOONE
Zoning & alternative use
INC · Boone, IA
Zoning INC · permitted uses
INC · Boone, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boone. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.48 ac
Current owner
From public records · entity-resolved
Kevin Ryan Majors
Individual
Free & Clear · 2 yrs held
Mailing address
421 NE 9TH ST, ANKENY, IA 50021-1930
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
May 29, 2024
—
Kevin Ryan Majors
Maribeth Waldman
Public Action
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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