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Property profile & analytics
OFF-MARKET
Estimated value
$2,565,000
Strip malls
7204 University Ave Windsor Heights, IA 50324-1332
Trust Owned
10-yr Hold
~
Est. High Equity
Property ID
US25-0186895
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2016
Construction
FRAME
Total area
29,154 SF
Lot
3.74 ac (163,002 SF)
Zoning code
CC
APN
292/00079-006-003
UPID
US25-0186895
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
$3.32M
Blend (final)
Blend
$2.57M
Owner & transaction history
Colby,charles I & Ruth Trust · 10 yrs held
Colby,charles I & Ruth Trust
since 2016
4 recorded transactions
Zoning & alternative use
CC · Windsor Heights, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is intended for commercial facilities which serve the needs of markets ranging from several neighborhoods to the overall region. While allowed commercial and office uses are generally compatible with nearby residential areas, traffic and operating characteristics may have more negative effects on residential neighborhoods than those permitted i…
Zone name
Community Commercial District
General category
COMMERCIAL
Zone area
148.08 ac
Source
Realmo
Top alternative use upside
Retail stores
$3.4M
+45.2%
Commercial (general)
$3.0M
+28.4%
Warehouse, storage
$2.7M
+14.9%
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
$2,330,000
Current use
RETAIL STORES
$3,385,000
Change: +45% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,995,000
Change: +28% · Conversion: Easy
WAREHOUSE, STORAGE
$2,680,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$2.57M
Range $2.31M – $2.82M · ±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
$88 / 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
$128,698
Tax year 2020
Assessed value
$4,560,000
Assessed 2023
Previous assessed
$4,560,000
+0.0% YoY
Effective rate
2.82%
On assessed value
Assessed land
$1,580,000
Assessed improvement
$2,980,000
Land market value
$1,580,000
Improvement market value
$2,980,000
Total market value
$4,560,000
Applied tax rate
20.0000
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
2016
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Total area
29,154 SF
Lot
3.74 ac (163,002 SF)
Zoning code
CC
APN
292/00079-006-003
UPID
US25-0186895
Jurisdiction
POLK
Zoning & alternative use
CC · Windsor Heights, IAZoning CC · permitted uses
CC · Windsor Heights, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district is intended for commercial facilities which serve the needs of markets ranging from several neighborhoods to the overall region. While allowed commercial and office uses are generally compatible with nearby residential areas, traffic and operating characteristics may have more negative effects on residential neighborhoods than those permitted in the O District.
Zone name
Community Commercial District
General category
COMMERCIAL
Zone area
148.08 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.3M
RETAIL STORES
Est. value
$3.4M
COMMERCIAL (GENERAL)
Est. value
$3.0M
WAREHOUSE, STORAGE
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER Current
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
2016
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Lot
3.74 ac
Current owner
From public records · entity-resolved
Colby,charles I & Ruth Trust
Trust
Mailing address
6581 UNIVERSITY AVE, WINDSOR HEIGHTS, IA 50324-1728
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2018
—
Charles,i Colby Trust
—
Deed
related
$3,400,000 · Bank Iowa
May 31, 2016
—
Charles I Colby And Ruth Colby Nati
—
Deed
related
$2,460,000 · West Bank
May 16, 2016
—
Colby,charles I & Ruth Trust
Colby Charles I & Ruth Trust
Quit Claim Deed
related
—
—
—
Charles,i Colby Trust
—
Deed Of Trust
related
$3,400,000 · Bank Iowa
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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