Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,265,000
Theaters & concert halls
8501 Hickman Rd Urbandale, IA 50322-4321
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US25-0158800
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1994
Construction
STEEL FRAME
Total area
43,120 SF
Lot
6.39 ac (278,131 SF)
Zoning code
PUD
APN
312/00612-607-000
UPID
US25-0158800
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
$2.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.27M
Owner & transaction history
Cadet 23 LLC · 2 yrs held
Cadet 23 LLC
since 2023
Last sale
$2.3M
7 recorded transactions
Zoning & alternative use
PUD · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
T. § 160.21 “FW” FLOODWAY (OVERLAY) DISTRICT. § 160.22 “FF” FLOODWAY FRINGE (OVERLAY) DISTRICT. § 160.22.1 “GF” GENERAL FLOODPLAIN (OVERLAY) DISTRICT. § 160.23 ADMINISTRATION OF FLOODPLAIN MANAGEMENT DISTRICT. § 160.24 “P.U.D.” PLANNED UNIT DEVELOPMENT DISTRICT. § 160.25 GENERAL REGULATIONS FOR LAND AND STRUCTURES. § 160.26 GENERAL USE RESTRICTIONS AND RULES…
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
3,693.79 ac
Source
CHAPTER 160: ZONING
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
$2,125,000
ML approach
$2,245,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,735,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$2,610,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,460,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.27M
Range $2.04M – $2.49M · ±10% · vs last sale $2.28M (Sep 19 2023)
Last sale anchor
$2.28M
Sep 19 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
$53 / 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
$95,870
Tax year 2020
Assessed value
$2,240,100
Assessed 2023
Previous assessed
$2,240,100
+0.0% YoY
Effective rate
4.28%
On assessed value
Assessed land
$2,240,000
Assessed improvement
$100
Land market value
$2,240,000
Improvement market value
$100
Total market value
$2,240,100
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1994
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
7
Bathrooms
2
Total area
43,120 SF
Lot
6.39 ac (278,131 SF)
Zoning code
PUD
APN
312/00612-607-000
UPID
US25-0158800
Jurisdiction
POLK
Zoning & alternative use
PUD · Urbandale, IAZoning PUD · permitted uses
PUD · Urbandale, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
T. § 160.21 “FW” FLOODWAY (OVERLAY) DISTRICT. § 160.22 “FF” FLOODWAY FRINGE (OVERLAY) DISTRICT. § 160.22.1 “GF” GENERAL FLOODPLAIN (OVERLAY) DISTRICT. § 160.23 ADMINISTRATION OF FLOODPLAIN MANAGEMENT DISTRICT. § 160.24 “P.U.D.” PLANNED UNIT DEVELOPMENT DISTRICT. § 160.25 GENERAL REGULATIONS FOR LAND AND STRUCTURES. § 160.26 GENERAL USE RESTRICTIONS AND RULES OF INTERPRETATION. § 160.27 BUFFER YARDS. § 160.28 REQUIRED OPEN SPACE AND LANDSCAPI
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
3,693.79 ac
Source
CHAPTER 160: ZONING
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
RETAIL STORES
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1994
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
7
Bathrooms
2
Lot
6.39 ac
Current owner
From public records · entity-resolved
Cadet 23 LLC
Entity
Mailing address
999 DOUGLAS AVE STE #3328, ALTAMONTE SPRINGS, FL 32714-5213
Ownership since
2023
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
Sep 19, 2023
$2,275,000
Cadet 23 LLC
Mergerwith Carmikc Cinemas LLC
Special Warranty Deed
—
Jun 7, 2005
—
Carmike Cinemas INC
—
Deed Of Trust
related
$530,000,000 · Bear Stearns Corp Lending
—
—
Carmike Cinemas INC
—
Deed Of Trust
related
$50,000,000 · Wells Fargo Bk
—
—
Carmike Cinemas INC
—
Deed Of Trust
related
$230,000,000 · Wells Fargo Bk
—
—
Carmike Cinemas INC
—
Deed Of Trust
related
$25,000 · Wells Fargo Bk NA (ce)
—
—
Carmike Cinemas INC
—
Deed Of Trust
related
$300,000,000 · Wells Fargo Bk NA (ce)
—
—
Carmike Cinemas INC
—
Deed Of Trust
related
$610,000 · J P Morgan Chase 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 8501 Hickman Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
