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Property profile & analytics
OFF-MARKET
Estimated value
$1,465,000
Investment properties
5075 University Ave Pleasant Hill, IA 50327-7001
Entity Owned
4-yr Hold
Free & Clear
Property ID
US25-0098603
Property summary
AI-generated overview
This exceptional Class A office building, situated at 5075 E University Ave, Pleasant Hill, IA 50327, offers 4,000 square feet of immediately available space, divisible down to 2,000 square feet. Built in 2000 and extensively renovated in 2022, the property boasts a total of 14,280 square feet across two stories within a single building on a 1.65-acre lot. The building features modern amenities including elevators. The space is currently in a "vanilla box" condition, providing unparalleled flexibility for tenant build-outs to perfectly suit individual business needs. Located conveniently off North Hickory Blvd, this property offers exceptional accessibility and visibility. The minimum leasable space is 2,000 square feet, with a maximum contiguous space of 4,000 square feet available. This presents a unique opportunity for businesses seeking a modern, adaptable workspace in a desirable Pleasant Hill location. The property's strategic location and flexible layout make it an ideal choice for a variety of businesses. Don't miss this chance to secure your ideal office space in this thriving community.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2000
Construction
FRAME
Total area
18,900 SF
Lot
1.65 ac (71,874 SF)
Zoning code
C-2
APN
221/00106-024-006
UPID
US25-0098603
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
$1.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.24M
Blend (final)
Blend
$1.47M
Owner & transaction history
Kellogg Properties LLC · 4 yrs held
Kellogg Properties LLC
since 2022
Last sale
$1.5M
5 recorded transactions
Zoning & alternative use
C-2 · Pleasant Hill, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The C-2 zoning district is intended to accommodate the general retain consumer and the needs and services of the automobile traveling consumer. The district includes commercial property along major City streets and highways, providing for general business needs.
Zone name
Regional Commercial
General category
COMMERCIAL
Zone area
349.36 ac
Source
Realmo
Top alternative use upside
Retail stores
$2.2M
+13.1%
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 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
$1,460,000
ML approach
$1,400,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,940,000
Current use
RETAIL STORES
$2,195,000
Change: +13% · Conversion: Easy
WAREHOUSE, STORAGE
$1,735,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.47M
Range $1.32M – $1.61M · ±10% · vs last sale $1.50M (Jul 1 2022)
Last sale anchor
$1.50M
Jul 1 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
$78 / 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
$38,040
Tax year 2020
Assessed value
$1,350,000
Assessed 2023
Previous assessed
$1,350,000
+0.0% YoY
Effective rate
2.82%
On assessed value
Assessed land
$304,000
Assessed improvement
$1,046,000
Land market value
$304,000
Improvement market value
$1,046,000
Total market value
$1,350,000
Applied tax rate
1.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2000
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Total area
18,900 SF
Lot
1.65 ac (71,874 SF)
Zoning code
C-2
APN
221/00106-024-006
UPID
US25-0098603
Jurisdiction
POLK
Zoning & alternative use
C-2 · Pleasant Hill, IAZoning C-2 · permitted uses
C-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 C-2 zoning district is intended to accommodate the general retain consumer and the needs and services of the automobile traveling consumer. The district includes commercial property along major City streets and highways, providing for general business needs.
Zone name
Regional Commercial
General category
COMMERCIAL
Zone area
349.36 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.9M
RETAIL STORES
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
2000
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Lot
1.65 ac
Current owner
From public records · entity-resolved
Kellogg Properties LLC
Entity
Free & Clear · 4 yrs held
Mailing address
8944 W 66TH PL, ARVADA, CO 80004-3044
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2022
$1,500,000
Kellogg Properties LLC
Pcwdm II LLC
Warranty Deed
—
Apr 27, 2020
$1,450,500
Pcwdm II LLC
Rueter Farms INC
Warranty Deed
$480,234 · Community Choice Cu
May 7, 2015
—
Rueter Farms INC|c & Ds Holdings LLC
First Natl Bk Of Ames Io
Grant Deed
related
—
Aug 29, 2014
$945,000
First Natl Bk Of Ames Io
First Bk
Grant Deed
—
Jan 12, 2011
$1,000,000
Bk First
Sheriff Of Polk County
Trustees 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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