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Property profile & analytics
OFF-MARKET
Estimated value
$795,000
Strip malls
6601 University Ave Windsor Heights, IA 50324-1600
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US25-0391368
Property summary
AI-generated overview
This exceptional retail property, located in the thriving Windsor Heights Town Center at 6601 & 6611 University Ave, Windsor Heights, Iowa 50324, offers a fantastic opportunity for businesses seeking high visibility and convenient access. The single-story building, constructed in 2002, boasts a total of 23,351 square feet and is currently divided into five suites. A prime 1,625 square foot space is immediately available, perfect for a variety of retail uses, including salons or offices, as indicated by the property's zoning designation (TC). The property benefits from its strategic location, providing easy interstate access via the I-235/63rd Street interchange, ensuring high traffic flow and excellent customer accessibility. The center enjoys a strong tenant mix, including established businesses such as Grounds for Celebration, Great Clips, 4 Seasons Nails & Spa, and Mojito's Mexican Grill, creating a vibrant and attractive shopping environment. The property's APN is 292-00378001000, and it is situated within the desirable Windsor Heights submarket of Polk County. This is an ideal location for businesses seeking a well-established, high-traffic retail space in a thriving community. The property's single-story design and ample parking provide convenient access for both customers and employees. Don't miss this chance to secure a prominent location in a successful retail center.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2002
Construction
STEEL FRAME
Total area
8,450 SF
Lot
1.61 ac (70,306 SF)
Zoning code
TC
APN
292/00378-001-000
UPID
US25-0391368
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$985k
Blend (final)
Blend
$795k
Owner & transaction history
Williams Turf Farms INC · 10 yrs held
Williams Turf Farms INC
since 2015
2 recorded transactions
Zoning & alternative use
TC · Windsor Heights, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+93.0%
Apartment house (5+ units)
$1.2M
+84.1%
Retail stores
$980,000
+45.2%
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 Windsor Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Windsor Heights 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
NEIGHBORHOOD: SHOPPING CENTER
$675,000
Current use
RESTAURANT
$1,305,000
Change: +93% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,245,000
Change: +84% · Conversion: Difficult
RETAIL STORES
$980,000
Change: +45% · Conversion: Easy
COMMERCIAL (GENERAL)
$870,000
Change: +28% · Conversion: Easy
WAREHOUSE, STORAGE
$775,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$795k
Range $716k – $875k · ±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
$94 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$152,625
Tax year 2020
Assessed value
$4,180,000
Assessed 2023
Previous assessed
$4,180,000
+0.0% YoY
Effective rate
3.65%
On assessed value
Assessed land
$852,000
Assessed improvement
$3,328,000
Land market value
$852,000
Improvement market value
$3,328,000
Total market value
$4,180,000
Applied tax rate
1.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2002
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
2
Stories
1
Total area
8,450 SF
Lot
1.61 ac (70,306 SF)
Zoning code
TC
APN
292/00378-001-000
UPID
US25-0391368
Jurisdiction
POLK
Zoning & alternative use
TC · Windsor Heights, IA
Zoning TC · permitted uses
TC · Windsor Heights, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Windsor Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$675,000
RESTAURANT
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
RETAIL STORES
Est. value
$980,000
COMMERCIAL (GENERAL)
Est. value
$870,000
WAREHOUSE, STORAGE
Est. value
$775,000
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
2002
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
2
Lot
1.61 ac
Current owner
From public records · entity-resolved
Williams Turf Farms INC
Entity
Mailing address
PO BOX 447, WAUKEE, IA 50263-0447
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2015
$3,950,000
Williams Turf Farms INC
Whtc Investor Schott LLC
Trustees Deed
$3,950,000 · First Nat'l Bk/ames Io
—
—
Whtc Manager LLC
—
Loan Modification
related
$2,500,000 · First American 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.
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