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Property profile & analytics
FOR LEASE
Strip malls
3160 8Th St SW Altoona, IA 50009
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0091255
For Lease
1 / 3
$13 SF/Yr
3160 8Th St SW, Altoona, IA 50009
View Listing →
Property summary
AI-generated overview
This single-story, 6,911 square foot retail strip center is located at 3160 8th St SW in Altoona, Iowa, within Polk County's Des Moines submarket. The property offers a minimum of 1,450 square feet of divisible space, ideal for a variety of retail businesses. Situated in a thriving retail corridor, this location benefits from high visibility and convenient access. Altoona's strategic position as a prominent entertainment hub in Iowa, home to major attractions such as Bass Pro Shops, Adventureland, and the Outlets of Des Moines, ensures a strong customer base and significant foot traffic. The property's single-building design provides efficient operations and easy management. This presents a unique opportunity for businesses seeking a well-located retail space in a rapidly growing area. The zip code is 50009. Serious inquiries are encouraged to explore this exceptional retail opportunity.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2000
Construction
FRAME
Total area
4,000 SF
Lot
4.78 ac (208,304 SF)
Zoning code
C-2
APN
171/00175-602-000
UPID
US25-0091255
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
$5.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.50M
Owner & transaction history
Prairie Cove Property LLC · 1 yrs held
Prairie Cove Property LLC
since 2024
Last sale
$5.5M
7 recorded transactions
Zoning & alternative use
C-2 · Altoona, IA
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
$5,500,000
ML approach
$5,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.50M
Range $4.95M – $6.05M · ±10% · vs last sale $5.50M (Dec 13 2024)
Last sale anchor
$5.50M
Dec 13 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
$1,375 / 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
$159,114
Tax year 2020
Assessed value
$4,780,000
Assessed 2023
Previous assessed
$4,780,000
+0.0% YoY
Effective rate
3.33%
On assessed value
Assessed land
$1,870,000
Assessed improvement
$2,910,000
Land market value
$1,870,000
Improvement market value
$2,910,000
Total market value
$4,780,000
Applied tax rate
3.0000
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
For Lease
Year built
2000
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
3
Stories
1
Total area
4,000 SF
Lot
4.78 ac (208,304 SF)
Zoning code
C-2
APN
171/00175-602-000
UPID
US25-0091255
Jurisdiction
POLK
Zoning & alternative use
C-2 · Altoona, IA
Zoning C-2 · permitted uses
C-2 · Altoona, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Altoona. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2000
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Lot
4.78 ac
Current owner
From public records · entity-resolved
Prairie Cove Property LLC
Entity
Mailing address
6581 UNIVERSITY AVE, WINDSOR HEIGHTS, IA 50324-1728
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 13, 2024
$5,500,000
Prairie Cove Property LLC
Colbys Prairie Cove Lc
Warranty Deed
$4,125,000 · Community Choice Cu
Dec 5, 2017
—
Colbys Prairie Cove Lc
—
Deed
related
$3,500,000 · Wells Fargo Bk
Nov 7, 2017
—
Colbys Prairie Cove Lc
Colby Charles I & Ruth Trust
Quit Claim Deed
related
$3,500,000 · Wells Fargo Bk
Mar 31, 2017
$4,800,000
Colby,charles I & Ruth Trust
Gcg Holdings Lc
Warranty Deed
—
May 10, 2016
—
Gcg Holdings Lc
—
Deed
related
$3,500,000 · Umb Bank NA
Apr 23, 2008
$4,200,000
Gcg Holdings Lc
Rjr Investments LLC
Warranty Deed
$3,777,566 · Great Western Bank
—
—
Gcg Holdings Lc
—
Deed Of Trust
related
$1,975,359 · Jonathan Galloway
—
—
Rjr Investments Lc
—
Deed Of Trust
related
$250,000 · Commercial Federal Bank
—
—
Colbys Prairie Cove Lc
—
Deed Of Trust
related
$3,500,000 · Wells Fargo Bk
—
—
Rjr Investments Lc
—
Deed Of Trust
related
$3,840,000 · West Bank
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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