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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Office buildings
3606 Kimball Ave Waterloo, IA 50702-5731
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US25-0285298
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Total area
6,480 SF
Lot
0.57 ac (24,698 SF)
APN
8813-04-477-007
UPID
US25-0285298
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
-
Lewis Benedict, PT Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$485k
CAP Approach
CAP
$695k
Comparable Approach
Comparable
$451k
Blend (final)
Blend
$530k
Owner & transaction history
Steelsmith Properties LLC · 4 yrs held
Steelsmith Properties LLC
since 2021
Last sale
$560,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$640,000
+46.3%
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 Waterloo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waterloo 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
$505,000
ML approach
$485,000
CAP Approach
CAP Return
Estimation
6%
$755,000
6.5%
$695,000
7%
$645,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$440,000
Current use
RESTAURANT
$640,000
Change: +46% · Conversion: Moderate
RETAIL STORES
$430,000
Change: -2% · Conversion: Moderate
WAREHOUSE, STORAGE
$350,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $560k (Sep 30 2021)
Last sale anchor
$560k
Sep 30 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
$82 / 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
$20,469
Tax year 2023
Assessed value
$548,760
Assessed 2024
Previous assessed
$548,760
+0.0% YoY
Effective rate
3.73%
On assessed value
Assessed land
$198,450
Assessed improvement
$350,310
Land market value
$198,450
Improvement market value
$350,310
Total market value
$548,760
Applied tax rate
940,001.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1984
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
6,480 SF
Lot
0.57 ac (24,698 SF)
APN
8813-04-477-007
UPID
US25-0285298
Jurisdiction
BLACK HAWK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$440,000
RESTAURANT
Est. value
$640,000
RETAIL STORES
Est. value
$430,000
WAREHOUSE, STORAGE
Est. value
$350,000
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
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
1984
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
Steelsmith Properties LLC
Entity
Mailing address
PO BOX 62, ALBION, IA 50005-0062
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2021
$560,000
Steelsmith Properties LLC
Robert L Bedard Family Trust
Warranty Deed
$5,690,000 · Liberty National Bank
Jan 16, 2018
$560,000
Steelsmith LLC
Kathye J Bedard
Contract Sale
—
Feb 19, 2010
—
Kathye J Bedard
Est Robert L Bedard Dckathye J
Legal Action/court Order
related
—
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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