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Property profile & analytics
OFF-MARKET
Estimated value
$17,765,000
Hotels
3200 Adventureland Dr Altoona, IA 50009-9548
Entity Owned
4-yr Hold
Free & Clear
Property ID
US25-0145409
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1972
Construction
FRAME
Total area
169,025 SF
Lot
173.8 ac (7,570,815 SF)
Zoning code
C-6
APN
171/00118-003-013
UPID
US25-0145409
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
$15.75M
Comparable Approach
Comparable
$17.33M
Blend (final)
Blend
$17.77M
Owner & transaction history
Festival Parks LLC · 4 yrs held
Festival Parks LLC
since 2021
Last sale
$24.5M
1 recorded transaction
Zoning & alternative use
C-6 · Altoona, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$29.1M
+136.9%
Auto repair, garage
$26.3M
+113.7%
Apartment house (5+ units)
$25.6M
+108.3%
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
$23,465,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,060,000
6.5%
$15,750,000
7%
$14,625,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$12,285,000
Current use
RESTAURANT
$29,100,000
Change: +137% · Conversion: Difficult
AUTO REPAIR, GARAGE
$26,255,000
Change: +114% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$25,585,000
Change: +108% · Conversion: Difficult
MEDICAL BUILDING
$25,515,000
Change: +108% · Conversion: Difficult
RETAIL STORES
$19,720,000
Change: +61% · Conversion: Difficult
COMMERCIAL (GENERAL)
$18,490,000
Change: +51% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$16,665,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$17.77M
Range $15.99M – $19.54M · ±10% · vs last sale $24.45M (Dec 22 2021)
Last sale anchor
$24.45M
Dec 22 2021
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
$105 / 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
$1,115,438
Tax year 2020
Assessed value
$26,500,000
Assessed 2023
Previous assessed
$26,500,000
+0.0% YoY
Effective rate
4.21%
On assessed value
Assessed land
$19,900,000
Assessed improvement
$6,600,000
Land market value
$19,900,000
Improvement market value
$6,600,000
Total market value
$26,500,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1972
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
46
Stories
9
Units
57
Total area
169,025 SF
Lot
173.8 ac (7,570,815 SF)
Zoning code
C-6
APN
171/00118-003-013
UPID
US25-0145409
Jurisdiction
POLK
Zoning & alternative use
C-6 · Altoona, IA
Zoning C-6 · permitted uses
C-6 · 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.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$12.3M
RESTAURANT
Est. value
$29.1M
AUTO REPAIR, GARAGE
Est. value
$26.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$25.6M
MEDICAL BUILDING
Est. value
$25.5M
RETAIL STORES
Est. value
$19.7M
COMMERCIAL (GENERAL)
Est. value
$18.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$16.7M
HOTEL/MOTEL Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1972
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
9
Buildings
46
Units
57
Lot
173.8 ac
Current owner
From public records · entity-resolved
Festival Parks LLC
Entity
Free & Clear · 4 yrs held
Mailing address
PO BOX 543185, DALLAS, TX 75354-3185
Ownership since
2021
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
Dec 22, 2021
$24,450,000
Festival Parks LLC
Adventure Lands Of America INC
Warranty Deed
—
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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