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Property profile & analytics
OFF-MARKET
Estimated value
$3,650,000
Investment properties
8800 62nd Ave Johnston, IA 50131-2849
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0393751
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2001
Construction
STEEL FRAME
Total area
42,000 SF
Lot
3.96 ac (172,498 SF)
Zoning code
PUD
APN
241/00922-011-000
UPID
US25-0393751
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
$3.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.08M
Blend (final)
Blend
$3.65M
Owner & transaction history
Fareway Stores INC · 2 yrs held
Fareway Stores INC
since 2024
Last sale
$3.7M
6 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
$3,650,000
ML approach
$3,650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,610,000
Current use
RETAIL STORES
$4,900,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$3.65M
Range $3.29M – $4.02M · ±10% · vs last sale $3.65M (Jan 9 2024)
Last sale anchor
$3.65M
Jan 9 2024
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
$87 / 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
$184,958
Tax year 2020
Assessed value
$4,080,000
Assessed 2023
Previous assessed
$4,080,000
+0.0% YoY
Effective rate
4.53%
On assessed value
Assessed land
$1,110,000
Assessed improvement
$2,970,000
Land market value
$1,110,000
Improvement market value
$2,970,000
Total market value
$4,080,000
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
2001
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
2
Total area
42,000 SF
Lot
3.96 ac (172,498 SF)
Zoning code
PUD
APN
241/00922-011-000
UPID
US25-0393751
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
$5.6M
RETAIL STORES
Est. value
$4.9M
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
2001
Construction
STEEL FRAME
Heating
CENTRAL
Stories
2
Buildings
1
Lot
3.96 ac
Current owner
From public records · entity-resolved
Fareway Stores INC
Entity
Free & Clear · 2 yrs held
Mailing address
505 5TH AVE STE #200, DES MOINES, IA 50309-2449
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2024
$3,650,000
Fareway Stores INC
The Graham Group INC
Warranty Deed
—
Jul 31, 2020
$1,145,500
Iowa Bankers Ins & Svcs INC
Mid America Inv Co
Warranty Deed
related
$12,500,000 · First Nat'l Bk Ames
Feb 2, 2015
$138,000
Logan B Lansink
Hbi LLC
Warranty Deed
$89,262 · Iowa Bankers Mortgage Corp
Aug 25, 2010
$152,000
Vicki L Pecenka
Rmf LLC
Warranty Deed
$121,240 · Iowa Bankers Mortgage Corp
—
—
Graham Group INC
—
Loan Modification
related
$4,400,000 · Bankers Tr
—
—
Graham Group INC
—
Deed Of Trust
related
$4,400,000 · Bankers Trust Co
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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