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Property profile & analytics
FOR LEASE
Warehouses
305 Adventureland Dr NW Altoona, IA 50009
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0842739
For Lease
1 / 13
Contact for pricing
305 Adventureland Dr NW, Altoona, IA 50009
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Property summary
AI-generated overview
This Class A industrial warehouse, located at 305 Adventureland Drive NW in Altoona, Iowa, offers 135,656 square feet of space within a single building constructed in 2023. The property is zoned M-1A and situated in Polk County, offering excellent access via Interstate 80. The building features 20 drive-in doors and boasts a 24-foot ceiling height. Multiple tenancy options are available, with a minimum divisible space of 6,025 square feet and a maximum contiguous space of 51,669 square feet. Currently, 75,769 square feet is vacant, spread across 11 available suites out of a total of 20 suites. This property is part of Gateway East Business Center, a new business park in one of the fastest-growing cities in the Des Moines metro area, providing excellent visibility and access to a strong workforce. The location is ideal for various uses, including showroom, service retail, sports, office, and warehouse operations. The zip code is 50009.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2023
Construction
STEEL FRAME
Total area
135,824 SF
Lot
13.22 ac (575,762 SF)
APN
171/00236-845-008
UPID
US25-0842739
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
$4.05M
Blend (final)
Blend
$5.28M
Owner & transaction history
Gateway East Business Center LLC · 3 yrs held
Gateway East Business Center LLC
since 2023
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Altoona submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Altoona 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
Blend value · Realmo final
$5.28M
Range $4.75M – $5.80M · ±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
$39 / 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
$462
Tax year 2023
Assessed value
$11,500,000
Assessed 2024
Previous assessed
$22,630
+50,717.5% YoY
Effective rate
0.00%
On assessed value
Assessed land
$2,020,000
Assessed improvement
$9,480,000
Land market value
$2,020,000
Improvement market value
$9,480,000
Total market value
$11,500,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2023
Construction
STEEL FRAME
Stories
1
Total area
135,824 SF
Lot
13.22 ac (575,762 SF)
APN
171/00236-845-008
UPID
US25-0842739
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2023
Construction
STEEL FRAME
Stories
1
Lot
13.22 ac
Current owner
From public records · entity-resolved
Gateway East Business Center LLC
Entity
Mailing address
4701 121ST ST, URBANDALE, IA 50323-2316
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2023
—
Gateway East Business Center LLC
—
Deed
related
$13,088,417 · Two Rivers Bank & Trust
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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