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Property profile & analytics
OFF-MARKET
Estimated value
$3,445,000
Manufacturing properties
425 Iris Rd Mt Pleasant, IA 52641-3109
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US25-1353749
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1992
Total area
76,558 SF
Lot
9.5 ac (413,820 SF)
APN
411081027600400
UPID
US25-1353749
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
$3.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.69M
Blend (final)
Blend
$3.45M
Owner & transaction history
White Family Preoperties LLC · 2 yrs held
White Family Preoperties LLC
since 2024
Last sale
$3.4M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$5.5M
+43.0%
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 Mt Pleasant submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mt Pleasant 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
$3,445,000
ML approach
$3,445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,830,000
Current use
WAREHOUSE, STORAGE
$5,475,000
Change: +43% · Conversion: Easy
RESTAURANT
$3,815,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$3,665,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$3.45M
Range $3.10M – $3.79M · ±10% · vs last sale $3.45M (Jun 5 2024)
Last sale anchor
$3.45M
Jun 5 2024
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
$45 / 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
$53,882
Tax year 2023
Assessed value
$1,664,020
Assessed 2024
Previous assessed
$1,664,020
+0.0% YoY
Effective rate
3.24%
On assessed value
Assessed land
$270,000
Assessed improvement
$1,394,020
Land market value
$270,000
Improvement market value
$1,394,020
Total market value
$1,664,020
Applied tax rate
411.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1992
Heating
NONE
Stories
1
Total area
76,558 SF
Lot
9.5 ac (413,820 SF)
APN
411081027600400
UPID
US25-1353749
Jurisdiction
HENRY
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
INDUSTRIAL (GENERAL) Current
Est. value
$3.8M
WAREHOUSE, STORAGE
Est. value
$5.5M
RESTAURANT
Est. value
$3.8M
RETAIL STORES
Est. value
$3.7M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
RESTAURANT
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
1992
Heating
NONE
Stories
1
Lot
9.5 ac
Current owner
From public records · entity-resolved
White Family Preoperties LLC
Entity
Mailing address
230 PO BOX 773178TH ST STE #200, STEAMBOAT SPRINGS, CO 80477-3178
Ownership since
2024
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 5, 2024
$3,445,000
White Family Preoperties LLC
Dumke Holdings Mt Pleasant LLC
Warranty Deed
$2,067,000 · Dumke Holdings Mt Pleasant LLC
Dec 20, 2023
—
Dumke Holdings Mt Pleasant LLC
—
Deed
related
$2,371,640 · Bank First NA
Aug 8, 2023
$8,500,000
Dunike Holdings Mt Pleasant LLC
Alaniz LLC
Warranty Deed
—
Jul 26, 2017
—
Alaniz LLC
—
Deed
related
$170,000 · Cerberus Business Fin LLC
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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