New search
Property profile & analytics
OFF-MARKET
Estimated value
$995,000
Medical Office Space
8851 Northpark Dr Urbandale, IA 50131-3156
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US25-0260758
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2018
Construction
STEEL FRAME
Total area
7,560 SF
Lot
0.93 ac (40,705 SF)
Zoning code
PUD
APN
312/02103-481-001
UPID
US25-0260758
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
$1.35M
Comparable Approach
Comparable
$710k
Blend (final)
Blend
$995k
Owner & transaction history
Northpark R/e Invtrs Lllp · 17 yrs held
Northpark R/e Invtrs Lllp
since 2008
7 recorded transactions
Zoning & alternative use
PUD · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+3.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,460,000
6.5%
$1,350,000
7%
$1,250,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,260,000
Current use
AUTO REPAIR, GARAGE
$1,300,000
Change: +3% · Conversion: Difficult
RESTAURANT
$1,165,000
Change: -7% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,115,000
Change: -12% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,010,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$995k
Range $896k – $1.09M · ±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
$132 / 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
$49,182
Tax year 2020
Assessed value
$1,820,000
Assessed 2023
Previous assessed
$1,820,000
+0.0% YoY
Effective rate
2.70%
On assessed value
Assessed land
$547,000
Assessed improvement
$1,273,000
Land market value
$547,000
Improvement market value
$1,273,000
Total market value
$1,820,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2018
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
7,560 SF
Lot
0.93 ac (40,705 SF)
Zoning code
PUD
APN
312/02103-481-001
UPID
US25-0260758
Jurisdiction
POLK
Zoning & alternative use
PUD · Urbandale, IA
Zoning PUD · permitted uses
PUD · 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
MEDICAL BUILDING Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
2018
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
0.93 ac
Current owner
From public records · entity-resolved
Northpark R/e Invtrs Lllp
Entity
Mailing address
8851 NORTHPARK DR STE #100, URBANDALE, IA 50131-3157
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
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
Jul 13, 2020
—
8851 Northpark Drive LLC
—
Deed
related
$2,016,743 · City State Bank
Apr 19, 2018
—
North Park Dr LLC
—
Deed
related
$2,000,000 · Two Rivers Bank & Trust
Nov 17, 2008
$12,675,000
Northpark R/e Invtrs Lllp
Northpark Developers Lc
Grant Deed
related
$9,506,250 · Regions Bank
Mar 4, 2008
—
Northpark Developers Lc
—
Trustees Deed
related
$1,000,000 · Dfn Partners LLC
Sep 25, 2006
—
Northpark Developers Lc
—
Deed Of Trust
related
$14,975,000 · First Federal Savings Bank
—
—
Northpark R/e Invtrs Ll LP
—
Deed Of Trust
related
$9,000,000 · Veridian Cu
—
—
Northpark Developers Lc
—
Deed Of Trust
related
$10,080,000 · First Federal Savings 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 8851 Northpark Dr?
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.
