Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,335,000
Industrial properties
601 23rd St Fairfield, IA 52556-4212
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US25-2061954
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1979
Total area
112,500 SF
Lot
5.95 ac (259,182 SF)
APN
06-34-200-040
UPID
US25-2061954
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
-
Thomas H Makeig Attorney Law Firm
-
Creative Edge Building Supply Industrial Manufacturer
-
SPL Fine Musical Instruments Production Facility
-
ToolKeepers Foam & Etch, LLC Industrial Manufacturer Production Facility
-
Weaton Companies Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.61M
Blend (final)
Blend
$4.34M
Owner & transaction history
R&p Iowa LLC · 2 yrs held
R&p Iowa LLC
since 2023
Last sale
$4.4M
3 recorded transactions
Zoning & alternative use
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 Fairfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairfield 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
$4,135,000
ML approach
$4,495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$7,080,000
Current use
RETAIL STORES
$6,605,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$4.34M
Range $3.90M – $4.77M · ±10% · vs last sale $4.35M (Dec 20 2023)
Last sale anchor
$4.35M
Dec 20 2023
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
$39 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$15,472
Tax year 2022
Assessed value
$540,600
Assessed 2023
Previous assessed
$540,600
+0.0% YoY
Effective rate
2.86%
On assessed value
Assessed land
$119,300
Assessed improvement
$421,300
Land market value
$119,300
Improvement market value
$421,300
Total market value
$540,600
Applied tax rate
2.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1979
Stories
1
Total area
112,500 SF
Lot
5.95 ac (259,182 SF)
APN
06-34-200-040
UPID
US25-2061954
Jurisdiction
JEFFERSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$7.1M
RETAIL STORES
Est. value
$6.6M
INDUSTRIAL (GENERAL) Current
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
1979
Stories
1
Lot
5.95 ac
Current owner
From public records · entity-resolved
R&p Iowa LLC
Entity
Mailing address
3925 BLENHEIM BLVD STE 51A, FAIRFAX, VA 22030-2426
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2023
$4,350,000
R&p Iowa LLC
601 Properties LLC
Warranty Deed
$2,175,000 · Iowa State Bank & Trust Co
Apr 10, 2023
—
601 Properties LLC
—
Deed
related
$250,000 · Iowa State Bank
Oct 2, 2018
—
601 Proprties LLC
—
Deed
related
$1,300,000 · Iowa State Bank
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 601 23rd St?
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.
