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Property profile & analytics
OFF-MARKET
Estimated value
$1,045,000
Strip malls
3418 8th SW St Altoona, IA 50009-1030
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US25-0390674
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
STEEL FRAME
Total area
10,005 SF
Lot
1.28 ac (55,887 SF)
Zoning code
C-2
APN
171/00176-008-015
UPID
US25-0390674
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
by Request
Blend (final)
Blend
$1.05M
Owner & transaction history
Mdm Equity-2010 LLC · 16 yrs held
Mdm Equity-2010 LLC
since 2010
4 recorded transactions
Zoning & alternative use
C-2 · Altoona, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.7M
+74.6%
Auto repair, garage
$1.6M
+57.5%
Apartment house (5+ units)
$1.5M
+53.5%
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
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$985,000
Current use
RESTAURANT
$1,720,000
Change: +75% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,555,000
Change: +58% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,515,000
Change: +54% · Conversion: Difficult
MEDICAL BUILDING
$1,510,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$1,165,000
Change: +18% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,095,000
Change: +11% · Conversion: Easy
WAREHOUSE, STORAGE
$855,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$1.05M
Range $941k – $1.15M · ±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
$104 / 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
$67,894
Tax year 2020
Assessed value
$2,560,000
Assessed 2023
Previous assessed
$2,560,000
+0.0% YoY
Effective rate
2.65%
On assessed value
Assessed land
$926,000
Assessed improvement
$1,634,000
Land market value
$926,000
Improvement market value
$1,634,000
Total market value
$2,560,000
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
Off-Market
Year built
2005
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
10,005 SF
Lot
1.28 ac (55,887 SF)
Zoning code
C-2
APN
171/00176-008-015
UPID
US25-0390674
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.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$985,000
RESTAURANT
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$855,000
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
2005
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
1.28 ac
Current owner
From public records · entity-resolved
Mdm Equity-2010 LLC
Entity
Mailing address
5000 WESTOWN PKWY STE #400, WEST DES MOINES, IA 50266-5921
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2010
$2,396,000
Mdm Equity-2010 LLC
Godwin Group LLC
Deed Of Trust
$2,396,000 · Earlham Savings Bank
Nov 8, 2004
—
Godwin Group LLC
—
Trustees Deed
related
$800,000 · Bankers Trust Co
Sep 29, 2004
$703,500
Godwin Group LLC
Altoona Crossing LLC
Grant Deed
$700,000 · Bankers Trust Co
—
—
Godwin Group LLC
—
Deed Of Trust
related
$1,500,000 · Bankers Trust Co
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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