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Property profile & analytics
OFF-MARKET
Estimated value
$2,110,000
Strip malls
2701 86th St Urbandale, IA 50322-4336
Entity Owned
3-yr Hold
Free & Clear
Property ID
US25-0431994
Property summary
AI-generated overview
This exceptional single-story, 22,000 square foot neighborhood retail center, built in 2000, presents a fantastic opportunity for businesses seeking flexible space in a high-traffic location. Situated on 2.52 acres of land at 2701 86th Street, Polk County, this Class B property offers a total of five suites, with 10,000 square feet currently vacant and available for lease. The minimum leasable space is 2,500 square feet, while a maximum of 10,000 contiguous square feet can be leased. The property features ample on-site parking and is conveniently located near New York Avenue. The zoning is PUD. One of the available spaces is a western end cap, equipped with a dock-high door, ideal for businesses requiring loading and unloading capabilities. The lease rate is $14.00 per square foot, NNN, with operating expenses of $5.96 per square foot. This property is perfect for a variety of retail uses and offers a strong potential for return on investment. The building has no elevators.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2000
Construction
FRAME
Total area
22,000 SF
Lot
2.52 ac (109,771 SF)
Zoning code
PUD
APN
312/03241-801-000
UPID
US25-0431994
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
$2.68M
Blend (final)
Blend
$2.11M
Owner & transaction history
Jpe Family Corp · 3 yrs held
Jpe Family Corp
since 2023
5 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
$3.4M
+57.5%
Apartment house (5+ units)
$3.3M
+53.5%
Medical building
$3.3M
+53.1%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,170,000
Current use
AUTO REPAIR, GARAGE
$3,415,000
Change: +58% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,330,000
Change: +54% · Conversion: Difficult
MEDICAL BUILDING
$3,320,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$2,565,000
Change: +18% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,995,000
Change: -8% · Conversion: Easy
WAREHOUSE, STORAGE
$1,875,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$2.11M
Range $1.90M – $2.32M · ±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
$96 / 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
$72,334
Tax year 2020
Assessed value
$2,930,000
Assessed 2023
Previous assessed
$2,930,000
+0.0% YoY
Effective rate
2.47%
On assessed value
Assessed land
$1,390,000
Assessed improvement
$1,540,000
Land market value
$1,390,000
Improvement market value
$1,540,000
Total market value
$2,930,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2000
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Total area
22,000 SF
Lot
2.52 ac (109,771 SF)
Zoning code
PUD
APN
312/03241-801-000
UPID
US25-0431994
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$3.3M
RETAIL STORES
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1
Buildings
1
Lot
2.52 ac
Current owner
From public records · entity-resolved
Jpe Family Corp
Entity
Free & Clear · 3 yrs held
Mailing address
1951 ARLINGTON AVE, DES MOINES, IA 50314-3316
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2023
—
Jpe Family Corp
Westminister Properties LLC
Warranty Deed
—
Mar 27, 2023
—
Jpe Family Corp
Westminister Properties LLC
Warranty Deed
$1,188,631 · Availa Bank
Nov 8, 2012
—
Westminister Properties LLC
Pigneri,denny F
Quit Claim Deed
related
—
Nov 6, 2008
—
Westminister Properties LLC
Pigneri,dennis F & Shelley D
Quit Claim Deed
related
$1,144,721 · Northwest Bank
—
—
Westminister Properties LLC
—
Deed Of Trust
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.
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