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Property profile & analytics
OFF-MARKET
Estimated value
$2,005,000
Hotels
5050 Merle Hay Rd Johnston, IA 50131-1201
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US25-0047198
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1992
Construction
FRAME
Total area
49,305 SF
Lot
10.19 ac (443,964 SF)
Zoning code
CD
APN
241/00348-501-000
UPID
US25-0047198
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
$1.97M
Blend (final)
Blend
$2.01M
Owner & transaction history
Baps Motel INC · 17 yrs held
Baps Motel INC
since 2009
3 recorded transactions
Zoning & alternative use
CD · Johnston, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Johnston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Johnston 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
Blend value · Realmo final
$2.01M
Range $1.80M – $2.21M · ±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
$41 / 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
$76,384
Tax year 2020
Assessed value
$2,060,000
Assessed 2023
Previous assessed
$2,060,000
+0.0% YoY
Effective rate
3.71%
On assessed value
Assessed land
$1,350,000
Assessed improvement
$710,000
Land market value
$1,350,000
Improvement market value
$710,000
Total market value
$2,060,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1992
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
3
Units
92
Total area
49,305 SF
Lot
10.19 ac (443,964 SF)
Zoning code
CD
APN
241/00348-501-000
UPID
US25-0047198
Jurisdiction
POLK
Zoning & alternative use
CD · Johnston, IA
Zoning CD · permitted uses
CD · Johnston, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Johnston. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1992
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
1
Units
92
Lot
10.19 ac
Current owner
From public records · entity-resolved
Baps Motel INC
Entity
Mailing address
265 62ND CT, WEST DES MOINES, IA 50266-8603
Ownership since
2009
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
Jun 25, 2009
$1,700,000
Baps Motel INC
Kcct INC
Warranty Deed
$2,100,000 · Grinnell State Bank
Sep 23, 2008
—
Kcct INC
Song,james & Ok H
Grant Deed
—
Mar 30, 2005
—
James Song
Song,suk S & Nammi
Quit Claim 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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