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Property profile & analytics
OFF-MARKET
Estimated value
$1,375,000
Automotive properties
4660 Merle Hay Rd Urbandale, IA 50322-1961
Entity Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0568890
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1971
Construction
STEEL FRAME
Total area
8,256 SF
Lot
3.14 ac (136,604 SF)
Zoning code
C-H
APN
312/02025-013-004
UPID
US25-0568890
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
$1.32M
Blend (final)
Blend
$1.38M
Owner & transaction history
Hummel Brothers INC · 15 yrs held
Hummel Brothers INC
since 2010
7 recorded transactions
Zoning & alternative use
C-H · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
I-FAMILY DISTRICT. § 160.12 “O-R” TRANSITIONAL OFFICE/RESIDENTIAL DISTRICT. § 160.13 “C-O” 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”…
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
149.54 ac
Source
CHAPTER 160: ZONING
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
AUTO REPAIR, GARAGE
$1,420,000
Current use
MEDICAL BUILDING
$1,375,000
Change: -3% · Conversion: Difficult
RESTAURANT
$1,275,000
Change: -10% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,215,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.38M
Range $1.24M – $1.51M · ±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
$167 / 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
$46,252
Tax year 2020
Assessed value
$1,700,000
Assessed 2023
Previous assessed
$1,700,000
+0.0% YoY
Effective rate
2.72%
On assessed value
Assessed land
$1,690,000
Assessed improvement
$10,000
Land market value
$1,690,000
Improvement market value
$10,000
Total market value
$1,700,000
Applied tax rate
13.0000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1971
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
8,256 SF
Lot
3.14 ac (136,604 SF)
Zoning code
C-H
APN
312/02025-013-004
UPID
US25-0568890
Jurisdiction
POLK
Zoning & alternative use
C-H · Urbandale, IAZoning C-H · permitted uses
C-H · Urbandale, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
I-FAMILY DISTRICT. § 160.12 “O-R” TRANSITIONAL OFFICE/RESIDENTIAL DISTRICT. § 160.13 “C-O” 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. §
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
149.54 ac
Source
CHAPTER 160: ZONING
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.4M
RESTAURANT
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
AUTO REPAIR, GARAGE Current
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1971
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
3.14 ac
Current owner
From public records · entity-resolved
Hummel Brothers INC
Entity
Mailing address
2121 NW 100TH ST, CLIVE, IA 50325-5348
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2023
—
Rjw LLC
—
Deed
related
$5,950,000 · Bank Of America NA
Jun 29, 2022
—
Rjw LLC
—
Deed
related
$5,950,000 · Bank Of America NA
Apr 25, 2018
—
Hummel Brothers INC
—
Deed
related
$770,628 · Wfb NA
Oct 1, 2010
$505,500
Hummel Brothers INC
Brown M Robert Trust
Warranty Deed
$825,000 · Wells Fargo Bank
Oct 1, 2010
$570,000
Hummel Brothers INC
Brown Violet M Trust
Warranty Deed
—
Feb 17, 2010
—
Brown,violet M Trust
Brown Violet M
Quit Claim Deed
related
—
—
—
Hummel Brothers INC
—
Loan Modification
related
$554,956 · Wells Fargo Bank
—
—
Hummel Brothers INC
—
Loan Modification
related
$702,378 · Wells Fargo Bank
—
—
Hummel Brothers INC
—
Deed Of Trust
related
$770,628 · Wfb NA
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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