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Property profile & analytics
OFF-MARKET
Estimated value
$1,820,000
Hotels
7625 Hickman Rd Urbandale, IA 50322-4509
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US25-0022310
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1963
Construction
FRAME
Total area
19,530 SF
Lot
2.57 ac (111,906 SF)
Zoning code
C-N
APN
312/00181-002-002
UPID
US25-0022310
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
$1.70M
CAP Approach
CAP
$2.26M
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$1.82M
Owner & transaction history
Horizon Apartments LLC · 9 yrs held
Horizon Apartments LLC
since 2017
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
C-N · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.0M
+112.4%
Apartment house (5+ units)
$2.9M
+102.6%
Retail stores
$2.3M
+59.8%
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
$1,775,000
ML approach
$1,695,000
CAP Approach
CAP Return
Estimation
6%
$2,450,000
6.5%
$2,260,000
7%
$2,100,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,420,000
Current use
RESTAURANT
$3,015,000
Change: +112% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,875,000
Change: +103% · Conversion: Difficult
RETAIL STORES
$2,270,000
Change: +60% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,795,000
Change: +26% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,770,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$1.82M
Range $1.64M – $2.00M · ±10% · vs last sale $1.90M (Dec 26 2023)
Last sale anchor
$1.90M
Dec 26 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
$93 / 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
$44,750
Tax year 2020
Assessed value
$1,340,000
Assessed 2023
Previous assessed
$1,340,000
+0.0% YoY
Effective rate
3.34%
On assessed value
Assessed land
$947,000
Assessed improvement
$393,000
Land market value
$947,000
Improvement market value
$393,000
Total market value
$1,340,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1963
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
3
Stories
2
Units
50
Total area
19,530 SF
Lot
2.57 ac (111,906 SF)
Zoning code
C-N
APN
312/00181-002-002
UPID
US25-0022310
Jurisdiction
POLK
Zoning & alternative use
C-N · Urbandale, IA
Zoning 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
Urbandale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.4M
RESTAURANT
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
RETAIL STORES
Est. value
$2.3M
WAREHOUSE, STORAGE
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.8M
HOTEL/MOTEL Current
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
1963
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
3
Units
50
Lot
2.57 ac
Current owner
From public records · entity-resolved
Horizon Apartments LLC
Entity
Mailing address
PO BOX 511, MARSHALLTOWN, IA 50158-0511
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2017
$1,940,000
Horizon Apartments LLC
7625 Hickman LLC
Warranty Deed
—
Jun 13, 2017
—
Motel Relax LLC
Horizon Apartments LLC
Warranty Deed
related
$1,720,000 · Lincoln Svgs Bk
Oct 15, 2007
$995,000
7625 Hickman LLC
Maa Ambe INC
Warranty Deed
—
Oct 15, 2007
$775,000
Maa Ambe INC
Oak Creek Inn O Des Moines Iow
Warranty Deed
—
Oct 15, 2007
—
7625 Hickman LLC
Maa Ambe INC
Grant Deed
$1,632,000 · Northwest Bank
—
—
7625 Hickman LLC
—
Deed Of Trust
related
$291,000 · Legacy Bank
—
—
7625 Hickman LLC
—
Deed Of Trust
related
$1,814,000 · Northwest 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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