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Property profile & analytics
OFF-MARKET
Estimated value
$2,105,000
Strip malls
500 Main St, Ames, IA 50010-6083
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0490886
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1994
Total area
21,219 SF
Lot
3.53 ac (153,875 SF)
Zoning code
DSC
APN
09-02-355-005
UPID
US25-0490886
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
-
Lindsey J. Schwartz, PharmD Pharmacy
-
Prairie Rose Needleworks (Bike/Boat/Book/etc) Store
-
Nicolle Fischer, PA-C Physician
-
Erin Lewis Pharmacy
-
Dr. Eva Youshock Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.41M
Blend (final)
Blend
$2.11M
Owner & transaction history
Merry Bee Properties LLC · 3 yrs held
Merry Bee Properties LLC
since 2022
3 recorded transactions
Zoning & alternative use
DSC · Ames, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.0M
+61.5%
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 Ames submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ames 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
$1,845,000
Current use
COMMERCIAL (GENERAL)
$2,980,000
Change: +62% · Conversion: Easy
RESTAURANT
$1,760,000
Change: -5% · Conversion: Difficult
OFFICE BUILDING
$1,675,000
Change: -9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,645,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.11M
Range $1.89M – $2.32M · ±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
$99 / 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
$103,044
Tax year 2023
Assessed value
$3,808,800
Assessed 2024
Previous assessed
$3,808,800
+0.0% YoY
Effective rate
2.71%
On assessed value
Assessed land
$1,136,400
Assessed improvement
$2,672,400
Land market value
$1,136,400
Improvement market value
$2,672,400
Total market value
$3,808,800
Applied tax rate
1,001.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1994
Heating
NONE
Buildings
3
Stories
1
Total area
21,219 SF
Lot
3.53 ac (153,875 SF)
Zoning code
DSC
APN
09-02-355-005
UPID
US25-0490886
Jurisdiction
STORY
Zoning & alternative use
DSC · Ames, IA
Zoning DSC · permitted uses
DSC · Ames, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ames. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$3.0M
RESTAURANT
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1994
Heating
NONE
Stories
1
Buildings
3
Lot
3.53 ac
Current owner
From public records · entity-resolved
Merry Bee Properties LLC
Entity
Mailing address
312 LK AVE, WORTHINGTON, MN 56187-1529
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 21, 2022
—
Merry Bee Properties LLC
—
Deed
related
$500,000 · First State Bank Southwest
Jul 1, 2021
—
Merry Bee Properties LLC
—
Deed
related
$1,726,000 · First State Bank Southwest
Jun 1, 2017
—
Merry Bee Properties LLC
—
Deed
related
$1,960,000 · Bankers Trust Company 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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