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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    300 34th NW Ave Altoona, IA 50009-2639

    • Hotels
    • 36,822 SF
    • 2.21 lot acres
    OFF-MARKET
    Last Sale
    Apr 04, 2022
    $1,850,000
    Value Estimations
    $1,610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0230008
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hotels

    Property Details for 300 34th NW Ave

    Year built
    1989
    Construction
    FRAME
    Lot size
    2.21 lot acres
    Property size
    36,822 SF
    Zone code
    C-2
    Property type
    Hotels
    Property subtype
    Motels
    APN
    171/00460-202-000
    APU
    17100460202000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,395,000
      ML approach
      $1,395,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,236,000
      Market price range: $1.45M - $3.78M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,675,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Altoona
    County
    Polk
    State
    Iowa
    Longitude
    -93.5042
    Latitude
    41.6529
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $82,870
    $915,000
    $1,425,000
    $2,340,000
    -
    $915,000
    $1,425,000
    $2,340,000

    Comparable in this City

    • Value Estimation
      $3,675,000
      57,755 SF

      460 Bass Pro Dr

      HOTEL/MOTEL • 57,755 SF
      460 Bass Pro Dr, Altoona, IA 50009-7602
      View Details
    • Value Estimation by Request
      45,372 SF

      165 Adventureland NW Dr

      HOTEL/MOTEL • 45,372 SF
      165 Adventureland NW Dr, Altoona, IA 50009-4229
      View Details
    • Value Estimation
      $1,515,000
      30,835 SF

      2101 Adventureland Dr

      HOTEL/MOTEL • 30,835 SF
      2101 Adventureland Dr, Altoona, IA 50009-9471
      View Details
    • Value Estimation
      $2,960,000
      48,332 SF

      1785 11th NW St

      HOTEL/MOTEL • 48,332 SF
      1785 11th NW St, Altoona, IA 50009-2366
      View Details
    • Value Estimation
      $3,455,000
      60,321 SF

      215 Adventureland NW Dr

      HOTEL/MOTEL • 60,321 SF
      215 Adventureland NW Dr, Altoona, IA 50009-4235
      View Details
    • Value Estimation
      $1,810,000
      29,712 SF

      2315 Adventureland Dr

      HOTEL/MOTEL • 29,712 SF
      2315 Adventureland Dr, Altoona, IA 50009-2250
      View Details

    Similar Nearby for Sale

    • $297,950
      1.14 Acres

      Altoona Commercial Pad Site

      Prime 1.14-acre C-2 lot, ideal for development.
      220 Skinner Pkwy, Altoona, IA 50009
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    • Contact for pricing
      13.50 Acres

      Altoona Industrial Land for Sale

      13.5 Acres, I-80 Visibility, Build-to-Suit
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    • $84,000
      0.22 Acres

      Altoona Land with Landscaping Allowance

      Residential land in Altoona, IA with landscaping allowance.
      740 34Th Ave SE, Altoona, IA 50009
      View Details
    • Contact for pricing
      328,147 SF

      Altoona Warehouse and Distribution Facility

      328,147 SF warehouse/distribution facility on approximately 16.6 acres.
      2075 25Th St NW, Altoona, IA 50009
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    • $499,000

      Retail Pad Site For Sale

      Retail pad site available next to new mixed-use development.
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    • $370,000

      New Ranch Townhome with Daylight

      New 3 bed, 3 bath townhome with daylight lot.
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    Similar Nearby for Lease

    • $822,195

      Altoona Commercial Land For Lease

      Prime location near I-80, suitable for various commercial uses.
      1250 1St Ave N, Altoona, IA 50009
      View Details
    • $14 SF/Yr
      11,755 SF

      Altoona Retail/Office Opportunity

      Des Moines Submarket, 3,844 SF Available
      600 8Th St, Altoona, IA 50009
      View Details
    • Contact for pricing
      497,587 SF

      Altus Building C: Altoona Warehouse

      Massive Iowa warehouse space available.
      2301 25Th St, Altoona, IA 50009
      View Details
    • $14 SF/Yr
      3,769 SF

      Retail/Office Space Available for Lease

      3,769 SF retail/office space with high visibility.
      600-616 8Th St SW, Altoona, IA 50009
      View Details
    • Contact for pricing
      7,000 SF

      Altoona Retail Space: 7,000 SF

      Prime Altoona storefront, 7,000 sq ft available.
      501 8Th St, Altoona, IA 50009
      View Details
    • $10 SF/Yr
      135,656 SF

      Altoona Warehouse Space Available

      Modern industrial warehouse, multiple suites.
      305 Adventureland Dr, Altoona, IA 50009
      View Details
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    300 34th NW Ave
    Altoona, IA 50009-2639
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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