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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Strip malls
6931 Douglas Ave Urbandale, IA 50322-3329
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0149609
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1935
Construction
FRAME
Total area
6,955 SF
Lot
0.59 ac (25,528 SF)
Zoning code
C-N
APN
312/00344-001-000
UPID
US25-0149609
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
$925k
CAP Approach
CAP
$1.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$925k
Owner & transaction history
Urbandale Centr LLC · 5 yrs held
Urbandale Centr LLC
since 2021
Last sale
$940,000
3 recorded transactions
Zoning & alternative use
C-N · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
DISTRICT. § 160.10 “R-3” LOW DENSITY MULTI-FAMILY DISTRICT. § 160.11 “R-4” MEDIUM DENSITY MULTI-FAMILY DISTRICT. § 160.12 “O-R” TRANSITIONAL OFFICE/RESIDENTIAL DISTRICT. § 160.13 “C-O” OFFICE/SERVICE DISTRICT. § 160.14 “C-N” NEIGHBORHOOD CONVENIENCE DISTRICT. § 160.15 “C-G” GENERAL COMMERCIAL DISTRICT. § 160.16 “C-H” HIGHWAY COMMERCIAL DISTRICT. § 160.17 “C-…
Zone name
Neighborhood Convenience
General category
COMMERCIAL
Zone area
121.67 ac
Source
CHAPTER 160: ZONING
Top alternative use upside
Auto repair, garage
$1.2M
+115.3%
Medical building
$1.2M
+108.1%
Restaurant
$1.1M
+93.0%
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 Urbandale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Urbandale 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
$900,000
ML approach
$925,000
CAP Approach
CAP Return
Estimation
6%
$1,375,000
6.5%
$1,265,000
7%
$1,175,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$555,000
Current use
AUTO REPAIR, GARAGE
$1,200,000
Change: +115% · Conversion: Difficult
MEDICAL BUILDING
$1,155,000
Change: +108% · Conversion: Difficult
RESTAURANT
$1,075,000
Change: +93% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,025,000
Change: +84% · Conversion: Difficult
RETAIL STORES
$810,000
Change: +45% · Conversion: Easy
WAREHOUSE, STORAGE
$640,000
Change: +15% · Conversion: Difficult
COMMERCIAL (GENERAL)
$630,000
Change: +13% · Conversion: Easy
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±10% · vs last sale $940k (Jun 14 2021)
Last sale anchor
$940k
Jun 14 2021
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
$133 / 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
$12,334
Tax year 2020
Assessed value
$578,000
Assessed 2023
Previous assessed
$578,000
+0.0% YoY
Effective rate
2.13%
On assessed value
Assessed land
$297,000
Assessed improvement
$281,000
Land market value
$297,000
Improvement market value
$281,000
Total market value
$578,000
Applied tax rate
19.0000
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
1935
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Total area
6,955 SF
Lot
0.59 ac (25,528 SF)
Zoning code
C-N
APN
312/00344-001-000
UPID
US25-0149609
Jurisdiction
POLK
Zoning & alternative use
C-N · Urbandale, IAZoning C-N · permitted uses
C-N · Urbandale, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
DISTRICT. § 160.10 “R-3” LOW DENSITY MULTI-FAMILY DISTRICT. § 160.11 “R-4” MEDIUM DENSITY MULTI-FAMILY DISTRICT. § 160.12 “O-R” TRANSITIONAL OFFICE/RESIDENTIAL DISTRICT. § 160.13 “C-O” OFFICE/SERVICE DISTRICT. § 160.14 “C-N” NEIGHBORHOOD CONVENIENCE DISTRICT. § 160.15 “C-G” GENERAL COMMERCIAL DISTRICT. § 160.16 “C-H” HIGHWAY COMMERCIAL DISTRICT. § 160.17 “C-P” PLANNED COMMERCE PARK DISTRICT. § 160.18 “M-1” PLANNED INDUSTRIAL DISTRICT. § 16
Zone name
Neighborhood Convenience
General category
COMMERCIAL
Zone area
121.67 ac
Source
CHAPTER 160: ZONING
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$555,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
RESTAURANT
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
RETAIL STORES
Est. value
$810,000
WAREHOUSE, STORAGE
Est. value
$640,000
COMMERCIAL (GENERAL)
Est. value
$630,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
1935
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Lot
0.59 ac
Current owner
From public records · entity-resolved
Urbandale Centr LLC
Entity
Free & Clear · 5 yrs held
Mailing address
16590 CREEKSIDE CIR, CLIVE, IA 50325-2217
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Jun 14, 2021
$940,000
Urbandale Centr LLC
Charles I Colby And Ruth Colby Tr N
Deed
—
Jun 2, 2021
—
Thomas E Colby SR.
—
Deed
related
$1,100,000 · City State Bank
—
—
Colby,charles I & Ruth Trust 2
—
Deed Of Trust
related
$2,000,000 · Ameritas Life Insurance Corp
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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