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Property profile & analytics
OFF-MARKET
Estimated value
$2,065,000
Investment properties
2650 106th St Urbandale, IA 50322-3734
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0174885
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2000
Construction
FRAME
Total area
12,084 SF
Lot
2.2 ac (95,832 SF)
Zoning code
PUD
APN
312/03260-406-000
UPID
US25-0174885
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
$1.91M
Comparable Approach
Comparable
$1.55M
Blend (final)
Blend
$2.07M
Owner & transaction history
Glass Half Full LLC · 1 yrs held
Glass Half Full LLC
since 2024
Last sale
$2.3M
4 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
$2.1M
+89.8%
Medical building
$2.0M
+83.4%
Restaurant
$1.9M
+70.1%
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 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%
$2,060,000
6.5%
$1,905,000
7%
$1,765,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,080,000
Change: +90% · Conversion: Difficult
MEDICAL BUILDING
$2,010,000
Change: +83% · Conversion: Easy
RESTAURANT
$1,865,000
Change: +70% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,780,000
Change: +62% · Conversion: Moderate
RETAIL STORES
$1,405,000
Change: +28% · Conversion: Easy
Blend value · Realmo final
$2.07M
Range $1.86M – $2.27M · ±10% · vs last sale $2.30M (May 27 2024)
Last sale anchor
$2.30M
May 27 2024
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
$171 / 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
$62,698
Tax year 2020
Assessed value
$2,550,000
Assessed 2023
Previous assessed
$2,550,000
+0.0% YoY
Effective rate
2.46%
On assessed value
Assessed land
$507,000
Assessed improvement
$2,043,000
Land market value
$507,000
Improvement market value
$2,043,000
Total market value
$2,550,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2000
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
2
Stories
2
Total area
12,084 SF
Lot
2.2 ac (95,832 SF)
Zoning code
PUD
APN
312/03260-406-000
UPID
US25-0174885
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
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.0M
RESTAURANT
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
RETAIL STORES
Est. value
$1.4M
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
2000
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
2
Lot
2.2 ac
Current owner
From public records · entity-resolved
Glass Half Full LLC
Entity
Mailing address
2670 106TH ST STE #220, URBANDALE, IA 50322-3746
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2024
$2,300,000
Glass Half Full LLC
Westridge Partners LLC
Warranty Deed
$2,650,000 · State Savings Bank
Aug 3, 2021
$2,300,000
Glass Half Full LLC
Westridge Partners LLC
Contract Sale
$2,300,000 · Not Available
Dec 4, 2019
—
Westridge Partners LLC
—
Deed
related
$1,456,856 · State Savings Bank
—
—
Westridge Partners LLC
—
Deed Of Trust
related
$1,700,000 · West Bk
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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