New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,205,000
Medical Office Space
3500 University Blvd Ames, IA 50010-8676
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-2421579
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2017
Total area
34,100 SF
Lot
2.93 ac (127,631 SF)
Zoning code
RI
APN
09-22-100-020
UPID
US25-2421579
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
Current use
Occupant on record · Public records
-
Brittney Mikkelsen, DPT Physician
-
Robert Swartz, PT, CMPT Physician
-
McFarland Clinic Laboratory Services - South Ames Medical Laboratory
-
McFarland Clinic Family Medicine - South Ames Pediatrician Physician
-
McFarland Sports Medicine Medical Clinic Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.79M
Blend (final)
Blend
$2.21M
Owner & transaction history
Clinic Building Company Incorporate · 9 yrs held
Clinic Building Company Incorporate
since 2017
4 recorded transactions
Zoning & alternative use
RI · Ames, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.0M
+56.4%
Restaurant
$2.8M
+49.3%
Office building
$2.7M
+42.1%
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 Ames submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ames 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
MEDICAL BUILDING
$1,895,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,965,000
Change: +56% · Conversion: Difficult
RESTAURANT
$2,830,000
Change: +49% · Conversion: Difficult
OFFICE BUILDING
$2,695,000
Change: +42% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,650,000
Change: +40% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,075,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$1,960,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$2.21M
Range $1.98M – $2.43M · ±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
$65 / 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
$198,518
Tax year 2023
Assessed value
$7,270,400
Assessed 2024
Previous assessed
$7,270,400
+0.0% YoY
Effective rate
2.73%
On assessed value
Assessed land
$348,700
Assessed improvement
$6,921,700
Land market value
$348,700
Improvement market value
$6,921,700
Total market value
$7,270,400
Applied tax rate
1,001.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2017
Heating
NONE
Stories
2
Total area
34,100 SF
Lot
2.93 ac (127,631 SF)
Zoning code
RI
APN
09-22-100-020
UPID
US25-2421579
Jurisdiction
STORY
Zoning & alternative use
RI · Ames, IA
Zoning RI · permitted uses
RI · Ames, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ames. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.0M
RESTAURANT
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.7M
WAREHOUSE, STORAGE
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
RETAIL STORES
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
2017
Heating
NONE
Stories
2
Lot
2.93 ac
Current owner
From public records · entity-resolved
Clinic Building Company Incorporate
Entity
Free & Clear · 9 yrs held
Mailing address
1215 DUFF AVE, AMES, IA 50010-5400
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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
Dec 1, 2017
—
Clinic Building Co INC
—
Deed
related
$6,000,000 · First American Bank
May 3, 2017
$293,000
Clinic Building Company Incorporate
Iowa State Univesity Research Park
Warranty Deed
—
Dec 1, 2009
—
Iowa State University Research Park
Ampc INC
Warranty Deed
—
Dec 15, 2008
$157,000
Iowa State University Research Park
Park Development L C
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3500 University Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
