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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Investment properties
421 Main St Slater, IA 50244-7781
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US25-0468791
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Construction
WOOD
Total area
6,120 SF
Lot
0.11 ac (4,970 SF)
APN
13-30-428-460
UPID
US25-0468791
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
-
The Clean Machine, LLC Carpet Cleaning Service Cleaning Service
-
Public House 421 Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$955k
Comparable Approach
Comparable
$746k
Blend (final)
Blend
$850k
Owner & transaction history
Corey Hillebo · 7 yrs held
Corey Hillebo
since 2018
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$785,000
+27.6%
Restaurant
$635,000
+3.2%
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 Slater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Slater 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%
$1,035,000
6.5%
$955,000
7%
$885,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$615,000
Current use
OFFICE BUILDING
$785,000
Change: +28% · Conversion: Easy
RESTAURANT
$635,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$850k
Range $765k – $935k · ±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
$139 / 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
$7,610
Tax year 2023
Assessed value
$359,600
Assessed 2024
Previous assessed
$359,600
+0.0% YoY
Effective rate
2.12%
On assessed value
Assessed land
$27,300
Assessed improvement
$332,300
Land market value
$27,300
Improvement market value
$332,300
Total market value
$359,600
Applied tax rate
13,017.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1900
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
2
Total area
6,120 SF
Lot
0.11 ac (4,970 SF)
APN
13-30-428-460
UPID
US25-0468791
Jurisdiction
STORY
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
COMMERCIAL (GENERAL) Current
Est. value
$615,000
OFFICE BUILDING
Est. value
$785,000
RESTAURANT
Est. value
$635,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
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
1900
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
Corey Hillebo
Individual
Mailing address
421 MAIN ST, SLATER, IA 50244-7781
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2019
—
Russell F Terhaar
—
Deed
related
$289,000 · Northwest Bank
Nov 27, 2018
$315,000
Corey Hillebo
421 Main LLC
Warranty Deed
$250,000 · South Story Bank & Trust
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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