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Property profile & analytics
FOR SALE
Manufacturing properties
255 Northwest Sunrise Dr Waukee, IA 50263
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-1081447
For Sale
1 / 3
$2,950,000
255 Northwest Sunrise Dr, Waukee, IA 50263
View Listing →
Property summary
AI-generated overview
This exceptional Class A retail property, located at 255 NW Sunrise Drive in Waukee, Iowa, presents a unique investment opportunity. Built in 2020, the single-story building boasts a substantial 12,180 square feet of space, currently entirely vacant and ready for immediate occupancy. The property is ideally suited for a brewery and restaurant operation, featuring a large outdoor patio area perfectly complementing the on-site dog park. The expansive 5.95 acres of land provide ample space for outdoor activities and potential expansion. The property's prime location in Waukee, Iowa, zip code 50263, offers excellent visibility and accessibility. Its modern construction and versatile layout make it an attractive proposition for a variety of uses within the retail sector. The building's single-tenancy status provides flexibility and control for the new owner or tenant. This is a rare opportunity to acquire a substantial, well-located property with significant potential for growth and profitability in a thriving Iowa community. The property is zoned for retail use and is ready for immediate development. All utilities are connected. Serious inquiries only.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2020
Total area
12,180 SF
Lot
5.95 ac (259,049 SF)
APN
1229478001
UPID
US25-1081447
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
-
Kinship Brewing Company Production Facility Brewery & Distillery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$770k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$855k
Owner & transaction history
Lincoln Savings Bank · 1 yrs held
Lincoln Savings Bank
since 2024
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+70.6%
Office building
$1.1M
+34.3%
Restaurant
$875,000
+10.1%
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 Waukee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukee 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%
$830,000
6.5%
$770,000
7%
$715,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$795,000
Current use
AUTO REPAIR, GARAGE
$1,355,000
Change: +71% · Conversion: Easy
OFFICE BUILDING
$1,065,000
Change: +34% · Conversion: Difficult
RESTAURANT
$875,000
Change: +10% · Conversion: Difficult
MEDICAL BUILDING
$810,000
Change: +2% · Conversion: Difficult
RETAIL STORES
$705,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$855k
Range $770k – $941k · ±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
$75,168
Tax year 2023
Assessed value
$2,386,400
Assessed 2024
Previous assessed
$2,386,400
+0.0% YoY
Effective rate
3.15%
On assessed value
Assessed land
$990,860
Assessed improvement
$1,395,540
Land market value
$990,860
Improvement market value
$1,395,540
Total market value
$2,386,400
Applied tax rate
500,000.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Sale
Year built
2020
Heating
NONE
Stories
1
Total area
12,180 SF
Lot
5.95 ac (259,049 SF)
APN
1229478001
UPID
US25-1081447
Jurisdiction
DALLAS
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
$795,000
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.1M
RESTAURANT
Est. value
$875,000
MEDICAL BUILDING
Est. value
$810,000
RETAIL STORES
Est. value
$705,000
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
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
2020
Heating
NONE
Stories
1
Lot
5.95 ac
Current owner
From public records · entity-resolved
Lincoln Savings Bank
Entity
Free & Clear · 1 yrs held
Mailing address
360 WESTFIELD AVE #6, WATERLOO, IA 50701-1312
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
Jul 18, 2024
—
Lincoln Savings Bank
Sunrise Drive Acquisitions Co LLC
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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