Property profile

600 8Th St SW Altoona, IA 50009

FOR LEASE
Investment properties
Property ID
US25-0346446
12,080 SF 2.19 ac lot Built 1997
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property, located at 600 8th St SW in Altoona, Iowa (zip code 50009), offers a versatile 3,844 square foot space within a larger 11,755 square foot building. The property is zoned C-2 and features a prime location with direct frontage and high visibility on 8th Street SW, boasting a visible traffic count of 16,300 vehicles per day. Monument signage is available, enhancing marketing opportunities. Currently configured as a hair and beauty salon, the space includes an exclusive exterior deck on the west side of the building. The property offers ample parking with 30 spaces available for tenants and customers. This multi-tenant building provides a strong sense of community with established co-tenants including Re/Max Precision, H&R Block, and American Family Insurance. The asking base rent is $14.00 per square foot, with current CAM (Common Area Maintenance) charges of $5.90 per square foot. The property's APN is 171-00511380003, situated in Polk County within the Des Moines submarket. This is an excellent opportunity for businesses seeking a well-located, established space with high visibility and convenient amenities. The total building size is 11,755 square feet, with 3,844 square feet currently vacant and ready for immediate occupancy. This property is ideal for a variety of retail or office uses.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1997
Construction FRAME
Total area 12,080 SF
Lot 2.19 ac (95,571 SF)
Zoning code C-2
APN 171/00511-380-003
UPID US25-0346446

Cap rate & NOI

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

Location

600 8Th St SW Altoona, IA 50009
Altoona metro Census 10708 DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.84M
Comparable Approach Comparable
$1.30M
Blend (final) Blend
$1.66M

Owner & transaction history

since 2018
4 recorded transactions
2018
$1.3M
2017
Price N/A
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
Restaurant $2.1M +57.4%
Auto repair, garage $1.9M +42.0%
Apartment house (5+ units) $1.8M +38.4%

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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