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Property profile & analytics
OFF-MARKET
Estimated value
$2,530,000
Investment properties
8700 Cres Chase Johnston, IA 50131-2209
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-0085957
Property summary
AI-generated overview
This exceptional 30,184 square foot office building, located at 8700 Crescent Chase in Johnston, Iowa, 50131, presents a unique investment opportunity. Built in 2009 and extensively renovated in 2018, the property boasts a Class B rating and offers flexible space ideal for a variety of uses, including creative office, medical office, traditional office, hospitality, or retail. The single-story building sits on 2.493 acres of land and features an open floor plan design with abundant natural light. An outdoor patio provides a welcoming space for employees. The entire 30,184 square feet is currently vacant and available for lease, with a minimum divisible space of 5,688 square feet. The property includes 149 parking spaces, making it convenient for employees and clients. Zoned PUD, this versatile building is situated in the Johnston submarket, near the cross streets of NW 62nd. The property is ready for immediate occupancy and offers a range of floor plan options to suit diverse business needs. No elevators are present in this single-story building.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2018
Construction
STEEL FRAME
Total area
30,184 SF
Lot
2.49 ac (108,595 SF)
Zoning code
PUD
APN
241/00523-071-301
UPID
US25-0085957
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
$2.68M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.40M
Blend (final)
Blend
$2.53M
Owner & transaction history
Crescent Chase Jv23 LLC · 3 yrs held
Crescent Chase Jv23 LLC
since 2023
Last sale
$2.4M
3 recorded transactions
Zoning & alternative use
PUD · Johnston, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Johnston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Johnston 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
$2,765,000
ML approach
$2,680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,035,000
Current use
RETAIL STORES
$3,520,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$2.53M
Range $2.28M – $2.78M · ±10% · vs last sale $2.40M (Mar 16 2023)
Last sale anchor
$2.40M
Mar 16 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
$84 / 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
$154,670
Tax year 2020
Assessed value
$2,400,000
Assessed 2023
Previous assessed
$2,400,000
+0.0% YoY
Effective rate
6.44%
On assessed value
Assessed land
$557,000
Assessed improvement
$1,843,000
Land market value
$557,000
Improvement market value
$1,843,000
Total market value
$2,400,000
Applied tax rate
13.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2018
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
30,184 SF
Lot
2.49 ac (108,595 SF)
Zoning code
PUD
APN
241/00523-071-301
UPID
US25-0085957
Jurisdiction
POLK
Zoning & alternative use
PUD · Johnston, IA
Zoning PUD · permitted uses
PUD · Johnston, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Johnston. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$4.0M
RETAIL STORES
Est. value
$3.5M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
2018
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
2.49 ac
Current owner
From public records · entity-resolved
Crescent Chase Jv23 LLC
Entity
Mailing address
12951 UNIVERSITY AVE STE #200, CLIVE, IA 50325-8293
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2025
—
Crescent Chase Jv23 LLC
—
Deed
related
—
Mar 16, 2023
$2,400,000
Crescent Chase Jv23 LLC
Bankers Trust Company
Warranty Deed
$2,400,000 · First National Bank
—
—
Adaje Dev INC
—
Deed Of Trust
related
$3,030,000 · Bankers Tr
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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