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Property profile & analytics
OFF-MARKET
Estimated value
$3,245,000
Commercial real estate
2771 104th St, Urbandale, IA 50322-3883
Entity Owned
~
Est. High Equity
Property ID
US25-0306571
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1992
Construction
STEEL FRAME
Total area
29,210 SF
Lot
3.85 ac (167,793 SF)
Zoning code
M-2
APN
312/00302-309-000
UPID
US25-0306571
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
$2.39M
Blend (final)
Blend
$3.25M
Owner & transaction history
One04 Partners LLC
One04 Partners LLC
since 2026
Last sale
$3.2M
6 recorded transactions
Zoning & alternative use
M-2 · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.0M
+89.8%
Medical building
$4.9M
+83.4%
Restaurant
$4.5M
+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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,650,000
Current use
AUTO REPAIR, GARAGE
$5,030,000
Change: +90% · Conversion: Difficult
MEDICAL BUILDING
$4,860,000
Change: +83% · Conversion: Easy
RESTAURANT
$4,510,000
Change: +70% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,300,000
Change: +62% · Conversion: Moderate
RETAIL STORES
$3,395,000
Change: +28% · Conversion: Easy
WAREHOUSE, STORAGE
$2,685,000
Change: +1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,335,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$3.25M
Range $2.92M – $3.57M · ±10% · vs last sale $3.20M (Feb 2 2026)
Last sale anchor
$3.20M
Feb 2 2026
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
$111 / 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
$51,642
Tax year 2020
Assessed value
$2,770,000
Assessed 2023
Previous assessed
$2,770,000
+0.0% YoY
Effective rate
1.86%
On assessed value
Assessed land
$887,000
Assessed improvement
$1,883,000
Land market value
$887,000
Improvement market value
$1,883,000
Total market value
$2,770,000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1992
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Total area
29,210 SF
Lot
3.85 ac (167,793 SF)
Zoning code
M-2
APN
312/00302-309-000
UPID
US25-0306571
Jurisdiction
POLK
Zoning & alternative use
M-2 · Urbandale, IA
Zoning M-2 · permitted uses
M-2 · Urbandale, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Urbandale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$5.0M
MEDICAL BUILDING
Est. value
$4.9M
RESTAURANT
Est. value
$4.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.3M
RETAIL STORES
Est. value
$3.4M
WAREHOUSE, STORAGE
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1992
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Lot
3.85 ac
Current owner
From public records · entity-resolved
One04 Partners LLC
Entity
Mailing address
3041 JUSTIN DR, URBANDALE, IA 50322-3802
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2026
$3,200,000
One04 Partners LLC
Am Anderson Properties Lc
Warranty Deed
$2,560,000 · Home State Bank
Mar 10, 2017
$75,000
A M Anderson Properties Lc
Tkd Investments LLC
Warranty Deed
$1,385,609 · City State Bank
Sep 16, 2016
$1,950,000
Tkd Investments LLC
Shattuck Realty INC
Warranty Deed
—
Sep 16, 2016
—
Tkd Investments LLC
Bp Johnson Construction INC
Warranty Deed
$2,200 · City State Bank
Apr 25, 2016
—
B P Johnson Construction INC
First American Bk
Quit Claim Deed
related
—
—
—
B P Johnson Construction INC
—
Deed Of Trust
related
$133,545 · Iowa St 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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