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Property profile & analytics
OFF-MARKET
Estimated value
$2,035,000
Strip malls
4301 Urbandale Dr Urbandale, IA 50322
Entity Owned
17-yr Hold
Free & Clear
Property ID
US25-0266802
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2013
Construction
STEEL FRAME
Total area
21,720 SF
Lot
5.13 ac (223,376 SF)
Zoning code
M-1
APN
312/01042-233-001
UPID
US25-0266802
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
$2.53M
Blend (final)
Blend
$2.04M
Owner & transaction history
Mark Anderson Properties Lc · 17 yrs held
Mark Anderson Properties Lc
since 2008
4 recorded transactions
Zoning & alternative use
M-1 · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
OFFICE/SERVICE DISTRICT. § 160.14 “C-N” NEIGHBORHOOD CONVENIENCE DISTRICT. § 160.15 “C-G” GENERAL COMMERCIAL DISTRICT. § 160.16 “C-H” HIGHWAY COMMERCIAL DISTRICT. § 160.17 “C-P” PLANNED COMMERCE PARK DISTRICT. § 160.18 “M-1” PLANNED INDUSTRIAL DISTRICT. § 160.19 “M-2” BUSINESS PARK INDUSTRIAL DISTRICT. § 160.20 “F-M” FLOODPLAIN MANAGEMENT DISTRICT. § 160.21…
Zone name
Planned Industrial
General category
INDUSTRIAL
Zone area
288.45 ac
Source
CHAPTER 160: ZONING
Top alternative use upside
Restaurant
$3.4M
+93.0%
Apartment house (5+ units)
$3.2M
+84.1%
Retail stores
$2.5M
+45.2%
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 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
NEIGHBORHOOD: SHOPPING CENTER
$1,735,000
Current use
RESTAURANT
$3,350,000
Change: +93% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,200,000
Change: +84% · Conversion: Difficult
RETAIL STORES
$2,525,000
Change: +45% · Conversion: Easy
WAREHOUSE, STORAGE
$1,995,000
Change: +15% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,970,000
Change: +13% · Conversion: Easy
Blend value · Realmo final
$2.04M
Range $1.83M – $2.24M · ±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
$94 / 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
$228,128
Tax year 2020
Assessed value
$7,920,000
Assessed 2023
Previous assessed
$7,920,000
+0.0% YoY
Effective rate
2.88%
On assessed value
Assessed land
$1,150,000
Assessed improvement
$6,770,000
Land market value
$1,150,000
Improvement market value
$6,770,000
Total market value
$7,920,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2013
Construction
STEEL FRAME
Heating
NONE
Buildings
3
Stories
1
Total area
21,720 SF
Lot
5.13 ac (223,376 SF)
Zoning code
M-1
APN
312/01042-233-001
UPID
US25-0266802
Jurisdiction
POLK
Zoning & alternative use
M-1 · Urbandale, IAZoning 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
Zoning description
OFFICE/SERVICE DISTRICT. § 160.14 “C-N” NEIGHBORHOOD CONVENIENCE DISTRICT. § 160.15 “C-G” GENERAL COMMERCIAL DISTRICT. § 160.16 “C-H” HIGHWAY COMMERCIAL DISTRICT. § 160.17 “C-P” PLANNED COMMERCE PARK DISTRICT. § 160.18 “M-1” PLANNED INDUSTRIAL DISTRICT. § 160.19 “M-2” BUSINESS PARK INDUSTRIAL DISTRICT. § 160.20 “F-M” FLOODPLAIN MANAGEMENT DISTRICT. § 160.21 “FW” FLOODWAY (OVERLAY) DISTRICT. § 160.22 “FF” FLOODWAY FRINGE (OVERLAY) DISTRICT.
Zone name
Planned Industrial
General category
INDUSTRIAL
Zone area
288.45 ac
Source
CHAPTER 160: ZONING
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.7M
RESTAURANT
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
RETAIL STORES
Est. value
$2.5M
WAREHOUSE, STORAGE
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
2013
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
3
Lot
5.13 ac
Current owner
From public records · entity-resolved
Mark Anderson Properties Lc
Entity
Free & Clear · 17 yrs held
Mailing address
4451 NW URBANDALE DR, URBANDALE, IA 50322-7920
Ownership since
2008
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
Oct 8, 2008
$300,000
Mark Anderson Properties Lc
Anderson Holdings LLC
Warranty Deed
—
Nov 30, 2004
$2,800,000
Anderson Holdings LLC
Anderson Properties INC
Grant Deed
related
$2,500,000 · First American Bank
—
—
Mark Anderson Properties Lc
—
Deed Of Trust
related
$1,700,000 · Two Rivers Bank & Trust
—
—
Mark Anderson Properties Lc
—
Deed Of Trust
related
$1,800,000 · Two Rivers 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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