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Property profile & analytics
OFF-MARKET
Estimated value
$3,075,000
Apartment buildings
2510 Canterbury Rd Urbandale, IA 50322-4663
Entity Owned
7-yr Hold
Property ID
US25-0426791
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1973
Construction
FRAME
Total area
26,556 SF
Lot
51.16 ac (2,228,530 SF)
Zoning code
PUD
APN
312/00353-004-000
UPID
US25-0426791
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
$3.41M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.08M
Owner & transaction history
Westpointe Owner LLC · 7 yrs held
Westpointe Owner LLC
since 2018
3 recorded transactions
Zoning & alternative use
PUD · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
T. § 160.21 “FW” FLOODWAY (OVERLAY) DISTRICT. § 160.22 “FF” FLOODWAY FRINGE (OVERLAY) DISTRICT. § 160.22.1 “GF” GENERAL FLOODPLAIN (OVERLAY) DISTRICT. § 160.23 ADMINISTRATION OF FLOODPLAIN MANAGEMENT DISTRICT. § 160.24 “P.U.D.” PLANNED UNIT DEVELOPMENT DISTRICT. § 160.25 GENERAL REGULATIONS FOR LAND AND STRUCTURES. § 160.26 GENERAL USE RESTRICTIONS AND RULES…
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
3,693.79 ac
Source
CHAPTER 160: ZONING
Top alternative use upside
Auto repair, garage
$4.6M
+17.0%
Medical building
$4.4M
+13.0%
Restaurant
$4.1M
+4.8%
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 Urbandale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Urbandale 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%
$3,690,000
6.5%
$3,405,000
7%
$3,160,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,910,000
Current use
AUTO REPAIR, GARAGE
$4,575,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$4,420,000
Change: +13% · Conversion: Moderate
RESTAURANT
$4,100,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$3.08M
Range $2.77M – $3.38M · ±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
$116 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$640,256
Tax year 2020
Assessed value
$38,300,000
Assessed 2023
Previous assessed
$38,300,000
+0.0% YoY
Effective rate
1.67%
On assessed value
Assessed land
$5,620,000
Assessed improvement
$32,680,000
Land market value
$5,620,000
Improvement market value
$32,680,000
Total market value
$38,300,000
Applied tax rate
20.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1973
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
24
Stories
2
Units
28
Rooms
5
Bathrooms
1
Total area
26,556 SF
Lot
51.16 ac (2,228,530 SF)
Zoning code
PUD
APN
312/00353-004-000
UPID
US25-0426791
Jurisdiction
POLK
Zoning & alternative use
PUD · Urbandale, IAZoning PUD · permitted uses
PUD · Urbandale, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
T. § 160.21 “FW” FLOODWAY (OVERLAY) DISTRICT. § 160.22 “FF” FLOODWAY FRINGE (OVERLAY) DISTRICT. § 160.22.1 “GF” GENERAL FLOODPLAIN (OVERLAY) DISTRICT. § 160.23 ADMINISTRATION OF FLOODPLAIN MANAGEMENT DISTRICT. § 160.24 “P.U.D.” PLANNED UNIT DEVELOPMENT DISTRICT. § 160.25 GENERAL REGULATIONS FOR LAND AND STRUCTURES. § 160.26 GENERAL USE RESTRICTIONS AND RULES OF INTERPRETATION. § 160.27 BUFFER YARDS. § 160.28 REQUIRED OPEN SPACE AND LANDSCAPI
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
3,693.79 ac
Source
CHAPTER 160: ZONING
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$4.6M
MEDICAL BUILDING
Est. value
$4.4M
RESTAURANT
Est. value
$4.1M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
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
1973
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
24
Units
28
Rooms
5
Bathrooms
1
Lot
51.16 ac
Current owner
From public records · entity-resolved
Westpointe Owner LLC
Entity
Mailing address
2211 YORK RD STE #222, OAK BROOK, IL 60523-4024
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2018
—
Westpointe Owner LLC
Nottingham Square Apartments LP
Warranty Deed
$29,593,000 · Berkadia Commercial Mortgage LLC
Feb 13, 2017
—
Nottingham Sq Apartments LP
—
Grant Deed
related
$28,000,000 · Berkadia Com'l Mtg
—
—
Sq Apartments Nottingham
—
Deed Of Trust
related
$21,160,000 · Column Financial INC
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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