New search
Property profile & analytics
OFF-MARKET
Estimated value
$18,065,000
Super regional malls
550 Gear Ave, West Burlington, IA 52655-1044
Entity Owned
7-yr Hold
Free & Clear
Property ID
US25-2567869
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1977
Total area
269,452 SF
Lot
36.22 ac (1,577,743 SF)
Zoning code
B2
APN
10-35-252-008
UPID
US25-2567869
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
-
Personally Yours Creations Discount Store
-
Navy Recruiting Station Military Recruiting Office
-
Iowa Department of Transportation Government Office
-
Buckle Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Classic Nails & Tanning Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.07M
Owner & transaction history
Westland Mall Realty Holding L · 7 yrs held
Westland Mall Realty Holding L
since 2019
5 recorded transactions
Zoning & alternative use
B2 · West Burlington, 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 West Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Burlington 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
APARTMENT HOUSE (5+ UNITS)
$27,305,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$22,045,000
Change: 0% · Conversion: Moderate
RESTAURANT
$21,460,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$20,955,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,895,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$10,875,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$18.07M
Range $16.26M – $19.87M · ±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
$67 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$148,326
Tax year 2021
Assessed value
$3,370,000
Assessed 2023
Previous assessed
$3,370,000
+0.0% YoY
Effective rate
4.40%
On assessed value
Assessed land
$2,011,000
Assessed improvement
$1,359,000
Land market value
$2,011,000
Improvement market value
$1,359,000
Total market value
$3,370,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1977
Heating
NONE
Buildings
4
Stories
1
Rooms
1
Total area
269,452 SF
Lot
36.22 ac (1,577,743 SF)
Zoning code
B2
APN
10-35-252-008
UPID
US25-2567869
Jurisdiction
DES MOINES
Zoning & alternative use
B2 · West Burlington, IA
Zoning B2 · permitted uses
B2 · West Burlington, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Burlington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$27.3M
OFFICE BUILDING
Est. value
$22.0M
RESTAURANT
Est. value
$21.5M
MEDICAL BUILDING
Est. value
$21.0M
AUTO REPAIR, GARAGE
Est. value
$17.9M
RETAIL STORES
Est. value
$10.9M
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1977
Heating
NONE
Stories
1
Buildings
4
Rooms
1
Lot
36.22 ac
Current owner
From public records · entity-resolved
Westland Mall Realty Holding L
Entity
Free & Clear · 7 yrs held
Mailing address
1010 NORTHERN BLVD STE #212, GREAT NECK, NY 11021-5320
Ownership since
2019
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
Apr 4, 2019
$1,100,000
Westland Mall Realty Holding L
550 S Gear Ave Hldgs LLC
Grant Deed
—
Feb 4, 2019
$1,500,000
550 S Gear Ave Hldgs LLC
Sheriff Of Des Moines County
Trustees Deed
—
Mar 31, 2005
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
—
—
Westland Mall Partners LLC
—
Loan Modification
related
$16,881,274 · Us Bk NA Series 2005-c17 (ce)
—
—
Westland Mall Realty Holding L
—
Deed Of Trust
related
$650,000 · Available Not
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 550 Gear Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
