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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Grocery and convenience stores
428 Franklin St Waterloo, IA 50703-3520
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0264658
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1966
Total area
2,201 SF
Lot
0.31 ac (13,320 SF)
APN
8913-24-354-003
UPID
US25-0264658
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
-
Chester's Restaurant
-
Cenex Gas Station
-
ATM Atm
-
Xo Food & Liquor (Bike/Boat/Book/etc) Store Wine and Liquor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
$360k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$580k
Owner & transaction history
Zaib INC · 2 yrs held
Zaib INC
since 2023
Last sale
$600,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$570,000
ML approach
$540,000
CAP Approach
CAP Return
Estimation
6%
$390,000
6.5%
$360,000
7%
$335,000
Blend value · Realmo final
$580k
Range $522k – $638k · ±10% · vs last sale $600k (Aug 8 2023)
Last sale anchor
$600k
Aug 8 2023
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
$264 / 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
$5,723
Tax year 2023
Assessed value
$220,210
Assessed 2024
Previous assessed
$220,210
+0.0% YoY
Effective rate
2.60%
On assessed value
Assessed land
$39,960
Assessed improvement
$180,250
Land market value
$39,960
Improvement market value
$180,250
Total market value
$220,210
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1966
Heating
NONE
Cooling
YES
Stories
1
Total area
2,201 SF
Lot
0.31 ac (13,320 SF)
APN
8913-24-354-003
UPID
US25-0264658
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
Building & site characteristics
From public records
Year built
1966
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Zaib INC
Entity
Mailing address
2020 GRN CRK RD, CEDAR FALLS, IA 50613-5621
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Aug 8, 2023
$600,000
Zaib INC
Sood INC
Special Warranty Deed
$450,000 · First Interstate Bank
May 23, 2019
—
Sood INC
—
Deed
related
$401,685 · Great Western Bank
Sep 6, 2011
$500,000
Sood INC
Z & S INC
Warranty Deed
—
Sep 6, 2011
$560,000
Shremaan LLC
Sood INC
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.
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