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Property profile & analytics
OFF-MARKET
Estimated value
$3,815,000
Investment properties
4060 Urbandale Dr Urbandale, IA 50322-7933
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US25-0077336
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2001
Construction
STEEL FRAME
Total area
44,336 SF
Lot
3.24 ac (140,960 SF)
Zoning code
M-1
APN
312/01591-607-001
UPID
US25-0077336
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
$3.35M
Blend (final)
Blend
$3.82M
Owner & transaction history
Kok Real Estate LLC · 14 yrs held
Kok Real Estate LLC
since 2012
7 recorded transactions
Zoning & alternative use
M-1 · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$5.2M
+28.0%
Warehouse, storage
$4.1M
+1.3%
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 Urbandale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Urbandale 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
COMMERCIAL (GENERAL)
$4,025,000
Current use
RETAIL STORES
$5,150,000
Change: +28% · Conversion: Easy
WAREHOUSE, STORAGE
$4,075,000
Change: +1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,545,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$3.82M
Range $3.43M – $4.20M · ±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
$86 / 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
$84,530
Tax year 2020
Assessed value
$3,880,000
Assessed 2023
Previous assessed
$3,880,000
+0.0% YoY
Effective rate
2.18%
On assessed value
Assessed land
$723,000
Assessed improvement
$3,157,000
Land market value
$723,000
Improvement market value
$3,157,000
Total market value
$3,880,000
Applied tax rate
19.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2001
Construction
STEEL FRAME
Heating
YES
Buildings
1
Stories
1
Total area
44,336 SF
Lot
3.24 ac (140,960 SF)
Zoning code
M-1
APN
312/01591-607-001
UPID
US25-0077336
Jurisdiction
POLK
Zoning & alternative use
M-1 · Urbandale, IA
Zoning M-1 · permitted uses
M-1 · Urbandale, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Urbandale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$4.0M
RETAIL STORES
Est. value
$5.2M
WAREHOUSE, STORAGE
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.5M
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
2001
Construction
STEEL FRAME
Heating
YES
Stories
1
Buildings
1
Lot
3.24 ac
Current owner
From public records · entity-resolved
Kok Real Estate LLC
Entity
Mailing address
309 LOCUST ST, DES MOINES, IA 50309-1723
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2023
—
K O K Real Estate LLC
—
Deed
related
$2,200,000 · West Bank
Apr 6, 2012
$1,930,000
Kok Real Estate LLC
Vista R/e & Inv Corp
Warranty Deed
$1,115,000 · Bankers Trust Co
Jul 5, 2011
$1,650,000
Vista R/e & Inv Corp
Tlc4060 LLC
Warranty Deed
$785,000 · Kenneth L Smith
Dec 30, 2010
$1,600,000
Tlc4060 LLC
Brad Johnson Investments Lc
Warranty Deed
$1,400,000 · West Bank
—
—
Kok Real Estate LLC
—
Deed Of Trust
related
$917,000 · Iowa Business Growth Co
—
—
Brad Johnson Investments LLC
—
Deed Of Trust
related
$2,000,000 · Regions Bank
—
—
Tlc4060 LLC
—
Deed Of Trust
related
$2,400,000 · West Bank
—
—
Kok Real Estate LLC
—
Deed Of Trust
related
$1,115,000 · 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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