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Property profile & analytics
OFF-MARKET
Estimated value
$4,935,000
Investment properties
702 Gilbert St Iowa City, IA 52240-1738
Individually Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-2001042
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1993
Construction
WOOD
Total area
52,553 SF
Lot
1.65 ac (71,874 SF)
APN
1015155001
UPID
US25-2001042
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
-
Musician's Pro Shop & School Of Music (Bike/Boat/Book/etc) Store
-
Cronk & Waterman, PLC Law Firm
-
Gumby's Pizza Restaurant
-
Salon LaDiDa Hair Salon
-
Jackson Medical Supply Medical Supply Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.21M
Comparable Approach
Comparable
$3.81M
Blend (final)
Blend
$4.94M
Owner & transaction history
University Of Iowa Community Cu · 12 yrs held
University Of Iowa Community Cu
since 2013
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.8M
+36.6%
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 Iowa City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Iowa City 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%
$6,720,000
6.5%
$6,205,000
7%
$5,760,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,960,000
Current use
OFFICE BUILDING
$6,775,000
Change: +37% · Conversion: Easy
INDUSTRIAL (GENERAL)
$4,910,000
Change: -1% · Conversion: Moderate
WAREHOUSE, STORAGE
$4,890,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$4.94M
Range $4.44M – $5.43M · ±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 2023Property tax & assessments
Tax year 2023
Tax billed
$145,754
Tax year 2023
Assessed value
$5,763,760
Assessed 2024
Previous assessed
$5,763,760
+0.0% YoY
Effective rate
2.53%
On assessed value
Assessed land
$1,006,240
Assessed improvement
$4,757,520
Land market value
$1,006,240
Improvement market value
$4,757,520
Total market value
$5,763,760
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1993
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
52,553 SF
Lot
1.65 ac (71,874 SF)
APN
1015155001
UPID
US25-2001042
Jurisdiction
JOHNSON
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
COMMERCIAL (GENERAL) Current
Est. value
$5.0M
OFFICE BUILDING
Est. value
$6.8M
INDUSTRIAL (GENERAL)
Est. value
$4.9M
WAREHOUSE, STORAGE
Est. value
$4.9M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
INDUSTRIAL (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
1993
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
1.65 ac
Current owner
From public records · entity-resolved
University Of Iowa Community Cu
Individual
Free & Clear · 12 yrs held
Mailing address
711 S GILBERT ST, IOWA CITY, IA 52240-1754
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
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
Jun 9, 2020
—
Kennedy Plaza INC
—
Deed
related
$500,000 · Hills Bank And Trust Co
Oct 15, 2013
$600,000
University Of Iowa Community Cu
Gary L Freeman
Warranty Deed
—
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
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