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    550 36th SW Ave Altoona, IA 50009-2626
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    Property profile & analytics

    550 36th SW Ave, Altoona, IA 50009-2626

    View on Map
    • Strip malls
    • 34,165 SF
    • 6.15 lot acres
    Off-Market
    Property ID
    US25-0687750
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $3,085,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 550 36th SW Ave

    Year built
    2000
    Construction
    STEEL FRAME
    Lot size
    6.15 lot acres
    Zone code
    C-2
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    171/00460-701-003
    APU
    17100460701003

    Description

    Pine Tree Plaza, a thriving community center in Altoona, Iowa, offers exceptional retail space for lease. This 42,015 square foot center sits on a 5.83-acre lot, providing ample space and visibility. Its strategic location directly west of a Wal-Mart Supercenter ensures high traffic counts, with 19,920 vehicles passing daily on 8th Street. The center boasts a strong tenant mix, including established businesses such as Maurices, ReMax, Sally Beauty Supply, Bone-A-Patreat, Sugar Shack, and Gamestop. This diverse tenant base creates a vibrant and attractive shopping destination. The property is classified as multi-tenant retail, offering opportunities for various business types to thrive within a well-established community hub. The significant daily traffic volume, coupled with the presence of successful existing tenants, presents a compelling investment opportunity for businesses seeking high visibility and a strong customer base. The ample land area also allows for potential expansion or future development. This property is ideal for businesses looking to establish a presence in a high-traffic, well-established retail center in a growing Iowa community. The existing tenant mix provides a strong foundation for new businesses to flourish. Contact us today to learn more about leasing opportunities at Pine Tree Plaza.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,058,000
      Market price range: $1.61M - $5.18M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,370,000
      Current use
      RETAIL STORES
      $3,985,000
      Change: +18% Conversion: Easy
      COMMERCIAL (GENERAL)
      $3,735,000
      Change: +11% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,915,000
      Change: -13% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Altoona
    County
    Polk
    State
    Iowa
    Longitude
    -93.507
    Latitude
    41.6462
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $164,220
    $2,030,000
    $3,790,000
    $5,820,000
    -
    $2,030,000
    $3,790,000
    $5,820,000

    Comparable in this City

    • Value Estimation
      $570,000
      6,600 SF

      116 1st N Ave

      SHOPPING CENTER, STRIP CENTER
      116 1st N Ave, Altoona, IA 50009-1425
      View Details
    • Value Estimation by Request
      7,028 SF

      102 3rd SE St

      SHOPPING CENTER, STRIP CENTER
      102 3rd SE St, Altoona, IA 50009-1827
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    • Value Estimation
      $1,410,000
      9,700 SF

      412 8th SW St

      SHOPPING CENTER, STRIP CENTER
      412 8th SW St, Altoona, IA 50009-1620
      View Details
    • Value Estimation
      $1,785,000
      20,316 SF

      1003 8th SW St

      SHOPPING CENTER, STRIP CENTER
      1003 8th SW St, Altoona, IA 50009-2349
      View Details
    • Value Estimation
      $680,000
      6,600 SF

      2437 Adventureland Dr

      SHOPPING CENTER, STRIP CENTER
      2437 Adventureland Dr, Altoona, IA 50009-9409
      View Details
    • Value Estimation
      $620,000
      6,421 SF

      1005 8th SW St

      SHOPPING CENTER, STRIP CENTER
      1005 8th SW St, Altoona, IA 50009-2310
      View Details

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      3,951 SF

      Retail Space on 8th Street

      3,951 SF retail space available for lease.
      1005 SW 8Th St, Altoona, IA 50009
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    • $3,200,000
      17.83 Acres

      Altoona, Iowa Land For Sale

      17.83 acres of agricultural land in Altoona, Iowa.
      305 NE 54Th Ave, Altoona, IA 50009
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    Similar Nearby for Lease

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      Retail Space Near Major Attractions

      Retail space available in a master-planned mixed-use development.
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      3,769 SF

      Retail/Office Space Available for Lease

      3,769 SF retail/office space with high visibility.
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      Gateway East Business Center Space

      New business park with interstate visibility and access.
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      Retail Space on 8th Street

      Retail spaces with great visibility and flexible configurations available for lease.
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    • Contact for pricing
      1,960 SF

      Altoona Retail Space Available

      Retail space in Altoona's 8th Street SW retail corridor.
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      1,295 SF

      Retail Space Available for Lease

      Retail space for lease in Altoona, Iowa with 1,295 SF.
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      View Details
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    Altoona, IA 50009-2626
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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