Property profile

550 36th SW Ave Altoona, IA 50009

OFF-MARKET
Strip malls
Property ID
US25-0687750
34,165 SF 6.15 ac lot Built 2000
Entity Owned 2-yr Hold Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2000
Construction STEEL FRAME
Total area 34,165 SF
Lot 6.15 ac (267,763 SF)
Zoning code C-2
APN 171/00460-701-003
UPID US25-0687750

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

550 36th SW Ave Altoona, IA 50009-2626
Altoona metro Census 10602 DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$4.06M
Blend (final) Blend
$3.09M

Owner & transaction history

since 2023
3 recorded transactions
2023
$146,500
2017
Price N/A
1969
Price N/A

Zoning & alternative use

C-2 · Altoona, IA
Zoning description

8. C-2 General Commercial District. 9. C-3 Planned Commercial District. 10. C-4 Village Commercial District. 11. C-5 Office Park. 12. C-6 Commercial Entertainment or Recreational District. 13. C-7 Regional Commercial Dis…

General category COMMERCIAL
Top alternative use upside
Retail stores $4.0M +18.3%
Commercial (general) $3.7M +11.0%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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