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Property profile & analytics
OFF-MARKET
Estimated value
$895,000
Flex space
893 Spg Rdg Dr Iowa City, IA 52246-6109
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-2316673
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1997
Construction
FRAME
Total area
7,776 SF
Lot
113 ac (4,922,280 SF)
APN
1021376050
UPID
US25-2316673
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
Current use
Occupant on record · Public records
-
Lake Ridge Estates Campground & RV Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$985k
CAP Approach
CAP
$715k
Comparable Approach
Comparable
$980k
Blend (final)
Blend
$895k
Owner & transaction history
Lake Ridge LLC · 3 yrs held
Lake Ridge LLC
since 2023
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.4M
+95.8%
Retail stores
$1.2M
+68.4%
Office building
$1.0M
+38.0%
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 Iowa City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Iowa City 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
$985,000
CAP Approach
CAP Return
Estimation
6%
$775,000
6.5%
$715,000
7%
$665,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$725,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,425,000
Change: +96% · Conversion: Difficult
RETAIL STORES
$1,225,000
Change: +68% · Conversion: Moderate
OFFICE BUILDING
$1,005,000
Change: +38% · Conversion: Difficult
COMMERCIAL (GENERAL)
$920,000
Change: +27% · Conversion: Difficult
WAREHOUSE, STORAGE
$865,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$895k
Range $806k – $985k · ±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
$115 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$181,786
Tax year 2023
Assessed value
$13,537,535
Assessed 2024
Previous assessed
$13,537,535
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$3,657,495
Assessed improvement
$9,880,040
Total market value
$13,670,235
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1997
Construction
FRAME
Buildings
6
Stories
1
Total area
7,776 SF
Lot
113 ac (4,922,280 SF)
APN
1021376050
UPID
US25-2316673
Jurisdiction
JOHNSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$725,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$920,000
WAREHOUSE, STORAGE
Est. value
$865,000
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1997
Construction
FRAME
Stories
1
Buildings
6
Lot
113 ac
Current owner
From public records · entity-resolved
Lake Ridge LLC
Entity
Mailing address
51 W CTR ST #600, OREM, UT 84057-4605
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 25, 2023
—
Lake Ridge LLC
—
Deed
related
$35,536,000 · Bellwether Enterprise Mortgage Investmen
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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