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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Bars & Pubs
4919 Walleye Dr Se Ste A Iowa City, IA 52240-8306
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-2384640
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
2008
Construction
WOOD
Total area
4,696 SF
Lot
0.1 ac (4,500 SF)
APN
905454095
UPID
US25-2384640
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
-
Wildwood Smokehouse & Saloon Restaurant
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$930k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$715k
Owner & transaction history
Lovan Investments LLC · 3 yrs held
Lovan Investments LLC
since 2022
Last sale
$700,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$850,000
+60.5%
Auto repair, garage
$555,000
+5.3%
Commercial (general)
$555,000
+5.1%
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 Iowa City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Iowa City 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
$930,000
ML approach
$930,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$530,000
Current use
WAREHOUSE, STORAGE
$850,000
Change: +60% · Conversion: Difficult
AUTO REPAIR, GARAGE
$555,000
Change: +5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$555,000
Change: +5% · Conversion: Easy
OFFICE BUILDING
$535,000
Change: +1% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$480,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$715k
Range $644k – $787k · ±10% · vs last sale $700k (Jul 19 2022)
Last sale anchor
$700k
Jul 19 2022
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
$152 / 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
$16,794
Tax year 2023
Assessed value
$756,000
Assessed 2024
Previous assessed
$756,000
+0.0% YoY
Effective rate
2.22%
On assessed value
Assessed land
$40,000
Assessed improvement
$716,000
Land market value
$40,000
Improvement market value
$716,000
Total market value
$756,000
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
2008
Construction
WOOD
Stories
1
Total area
4,696 SF
Lot
0.1 ac (4,500 SF)
APN
905454095
UPID
US25-2384640
Jurisdiction
JOHNSON
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
RESTAURANT Current
Est. value
$530,000
WAREHOUSE, STORAGE
Est. value
$850,000
AUTO REPAIR, GARAGE
Est. value
$555,000
COMMERCIAL (GENERAL)
Est. value
$555,000
OFFICE BUILDING
Est. value
$535,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$480,000
RESTAURANT Current
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2008
Construction
WOOD
Stories
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Lovan Investments LLC
Entity
Mailing address
4919 WALLEYE DR SE, IOWA CITY, IA 52240-8306
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
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
Jul 19, 2022
$700,000
Lovan Investments LLC
4919 Walleye Drive LLC
Warranty Deed
$600,000 · Hills Bank And Trust Co
Aug 1, 2016
—
4919 Walleye Drive LLC
—
Deed
related
$420,000 · Us Bank NA
Feb 3, 2014
—
Gateway Commerical Condominiums Own
Gateway Ltd
Warranty Deed
—
Jul 6, 2010
$525,000
Fobian Farms INC
Gateway Commercial Condominium Owne
Sheriffs Deed
related
—
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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