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Property profile & analytics
OFF-MARKET
Estimated value
$1,010,000
Warehouses
4950 University Ave Pleasant Hill, IA 50327-7004
Individually Owned
18-yr Hold
Absentee Owner
Property ID
US25-0272890
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Construction
STEEL FRAME
Total area
14,000 SF
Lot
1.5 ac (65,340 SF)
Zoning code
I-2
APN
221/00104-007-002
UPID
US25-0272890
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
$885k
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$1.01M
Owner & transaction history
Ronald M Patterson · 18 yrs held
Ronald M Patterson
since 2008
Last sale
$1.0M
4 recorded transactions
Zoning & alternative use
I-2 · Pleasant Hill, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The I-2 zoning district is intended to provide areas of the City suitable for activities and use of a general industrial nature.
Zone name
General Industrial
General category
INDUSTRIAL
Zone area
1,116.41 ac
Source
Realmo
Top alternative use upside
Retail stores
$1.6M
+26.4%
Commercial (general)
$1.4M
+11.7%
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 Pleasant Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pleasant Hill 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
$825,000
ML approach
$885,000
CAP Approach
CAP Return
Estimation
6%
$1,095,000
6.5%
$1,010,000
7%
$940,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,285,000
Current use
RETAIL STORES
$1,625,000
Change: +26% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,440,000
Change: +12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,120,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±10% · vs last sale $1.00M (Jun 2 2020)
Last sale anchor
$1.00M
Jun 2 2020
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
$72 / 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
$30,586
Tax year 2023
Assessed value
$973,000
Assessed 2024
Previous assessed
$973,000
+0.0% YoY
Effective rate
3.14%
On assessed value
Assessed land
$125,000
Assessed improvement
$848,000
Land market value
$125,000
Improvement market value
$848,000
Total market value
$973,000
Applied tax rate
3.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2004
Construction
STEEL FRAME
Heating
YES
Buildings
4
Stories
1
Rooms
4
Bathrooms
1
Total area
14,000 SF
Lot
1.5 ac (65,340 SF)
Zoning code
I-2
APN
221/00104-007-002
UPID
US25-0272890
Jurisdiction
POLK
Zoning & alternative use
I-2 · Pleasant Hill, IAZoning I-2 · permitted uses
I-2 · Pleasant Hill, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The I-2 zoning district is intended to provide areas of the City suitable for activities and use of a general industrial nature.
Zone name
General Industrial
General category
INDUSTRIAL
Zone area
1,116.41 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.3M
RETAIL STORES
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
2004
Construction
STEEL FRAME
Heating
YES
Stories
1
Buildings
4
Rooms
4
Bathrooms
1
Lot
1.5 ac
Current owner
From public records · entity-resolved
Ronald M Patterson
Individual
Mailing address
5088 E UNIVERSITY AVE, PLEASANT HILL, IA 50327-7006
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Apr 21, 2008
—
Ronald M Patterson
—
Deed Of Trust
related
$1,530,000 · Bank Iowa
Oct 5, 2006
—
Ronald M Patterson
—
Trustees Deed
related
$818,000 · Horizon Bank
—
—
Ronald M Patterson
—
Deed Of Trust
related
$1,694,000 · Bank Iowa
—
—
Ronald M Patterson
—
Deed Of Trust
related
$270,572 · Community State Bank
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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