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Property profile & analytics
FOR LEASE
Strip malls
2535 Mt Pleasant St Unit 100 Burlington, IA 52601
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US25-0163552
For Lease
1 / 10
$3,200/Mo
2535 Mt Pleasant St Unit,Unit 100, Burlington, IA 52601
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2019
Construction
FRAME
Total area
3,900 SF
Lot
0.45 ac (19,558 SF)
Zoning code
C2
APN
11-31-129-007
UPID
US25-0163552
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
-
Temp Associates Employment Agency
-
Pixels PC Tech Support Center IT Consulting Firm
-
Cloud Factory Vapes (Bike/Boat/Book/etc) Store Alternative Medicine Practice
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
Matthew R Petersen · 7 yrs held
Matthew R Petersen
since 2018
2 recorded transactions
Zoning & alternative use
C2 · Burlington, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this District is to provide for commercial business activities of a more general retail and wholesale nature, where no manufacturing, assembling, or fabrication is involved without the intrusion of residential dwellings and heavy industry
Zone name
General Commercial
General category
INDUSTRIAL
Zone area
555.22 ac
Source
Realmo
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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 2021Property tax & assessments
Tax year 2021
Tax billed
$10,076
Tax year 2021
Assessed value
$607,800
Assessed 2023
Previous assessed
$607,800
+0.0% YoY
Effective rate
1.66%
On assessed value
Assessed land
$39,200
Assessed improvement
$568,600
Land market value
$39,200
Improvement market value
$568,600
Total market value
$607,800
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2019
Construction
FRAME
Heating
NONE
Buildings
2
Stories
1
Total area
3,900 SF
Lot
0.45 ac (19,558 SF)
Zoning code
C2
APN
11-31-129-007
UPID
US25-0163552
Jurisdiction
DES MOINES
Zoning & alternative use
C2 · Burlington, IAZoning C2 · permitted uses
C2 · Burlington, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this District is to provide for commercial business activities of a more general retail and wholesale nature, where no manufacturing, assembling, or fabrication is involved without the intrusion of residential dwellings and heavy industry
Zone name
General Commercial
General category
INDUSTRIAL
Zone area
555.22 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2019
Construction
FRAME
Heating
NONE
Stories
1
Buildings
2
Lot
0.45 ac
Current owner
From public records · entity-resolved
Matthew R Petersen
Individual
Mailing address
2535 MT PLEASANT ST STE 100E, BURLINGTON, IA 52601-2182
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2018
$34,000
Matthew R Petersen
John Mccormick
Warranty Deed
$500,000 · Two Rivers Bank And Trust
Jun 5, 2012
$39,000
John Mccormick
Skelley,joseph E & Jennifer A
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.
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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