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Property profile & analytics
OFF-MARKET
Estimated value
$1,940,000
Warehouses
6250 Beaver Dr Johnston, IA 50131-1379
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0238960
Property summary
AI-generated overview
This Johnston, IA industrial property, located at 6250 NW Beaver Dr (cross street: NW 62nd Ave), offers 16,600 square feet of flexible space in a single-story, 1996-built building situated on 1.355 acres. The property features 24-foot ceilings, three dock-high doors, and five drive-in doors, providing excellent access for loading and unloading. Power is supplied by a 208/240v 3-phase system. Currently, there is space available for lease ranging from 2,667 to 8,300 square feet, allowing for flexibility in tenant needs. The building includes an existing mezzanine and a great mix of office and warehouse finishes. The property boasts a recently repaved parking lot and service court, and offers monument and building signage opportunities. Its convenient location provides easy access to I-80/35, making it an ideal location for businesses needing efficient transportation links. This Polk County property is perfect for a variety of industrial and flex uses.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Construction
STEEL FRAME
Total area
16,600 SF
Lot
1.36 ac (59,024 SF)
Zoning code
M-1
APN
241/00747-050-001
UPID
US25-0238960
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.89M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.94M
Owner & transaction history
Eroc Properties LLC · 3 yrs held
Eroc Properties LLC
since 2023
Last sale
$2.0M
6 recorded transactions
Zoning & alternative use
M-1 · Johnston, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.9M
+101.8%
Auto repair, garage
$2.6M
+82.1%
Apartment house (5+ units)
$2.5M
+77.5%
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 Johnston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Johnston 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
$1,870,000
ML approach
$1,890,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,415,000
Current use
RESTAURANT
$2,860,000
Change: +102% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,580,000
Change: +82% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,515,000
Change: +77% · Conversion: Difficult
MEDICAL BUILDING
$2,505,000
Change: +77% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,220,000
Change: +57% · Conversion: Difficult
RETAIL STORES
$1,935,000
Change: +37% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,635,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$1.94M
Range $1.75M – $2.13M · ±10% · vs last sale $2.00M (Apr 25 2023)
Last sale anchor
$2.00M
Apr 25 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
$117 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$48,768
Tax year 2023
Assessed value
$1,570,000
Assessed 2024
Previous assessed
$1,570,000
+0.0% YoY
Effective rate
3.11%
On assessed value
Assessed land
$99,900
Assessed improvement
$1,470,100
Land market value
$99,900
Improvement market value
$1,470,100
Total market value
$1,570,000
Applied tax rate
13.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
16,600 SF
Lot
1.36 ac (59,024 SF)
Zoning code
M-1
APN
241/00747-050-001
UPID
US25-0238960
Jurisdiction
POLK
Zoning & alternative use
M-1 · Johnston, IA
Zoning M-1 · permitted uses
M-1 · Johnston, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Johnston. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.4M
RESTAURANT
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.2M
RETAIL STORES
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1996
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
1.36 ac
Current owner
From public records · entity-resolved
Eroc Properties LLC
Entity
Mailing address
3093 NW PR LN, DES MOINES, IA 50313-7603
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 25, 2023
$2,000,000
Eroc Properties LLC
6250 Nw Beaver Drive LLC
Warranty Deed
$1,600,000 · Community State Bank
Oct 22, 2020
$180,000
Homes By Advantage LLC
Oak Crest Hms Lc
Warranty Deed
—
Mar 20, 2020
—
Homes By Advantage LLC
—
Deed Of Trust
related
$181,500 · Charter Bk
Jul 12, 2016
—
6250 Nw Beaver Drive LLC
Shook William E Trust
Quit Claim Deed
related
—
Apr 28, 2015
—
Tmmc Ents LLC
Bradley Mark W & Carolyn D
Warranty Deed
—
Jul 7, 2005
—
Shook William E Trust
Shook,william E
Quit Claim Deed
related
—
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.
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