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Property profile & analytics
OFF-MARKET
Estimated value
$1,470,000
Manufacturing properties
930 Market St Solon, IA 52333-8831
Entity Owned
Free & Clear
Property ID
US25-2402992
Property summary
AI-generated overview
This exceptional 1.16-acre development site is strategically located at 930 S Market Street in Solon, Iowa, directly on Highway 1. Currently undergoing subdivision and rezoning to Highway Commercial designation, this property presents a rare opportunity for developers seeking a high-visibility location. Ideal for a variety of uses, including retail, flex space, office buildings, or mixed-use developments, this parcel offers significant potential. Preliminary plans for an 8,500 to 9,000 square foot retail building have already been prepared by the owner, showcasing the site's suitability for immediate development. The owner is also open to exploring ground lease options or build-to-suit arrangements, providing flexibility for potential buyers or tenants. The property's address is 930 S Market Street, Solon, IA 52333, situated in Johnson County. The asking price for this exceptional development opportunity is $350,000. This is a unique chance to acquire a highly desirable commercial lot in a growing Iowa community with excellent highway frontage.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1988
Total area
19,275 SF
Lot
1.23 ac (53,579 SF)
APN
225143002
UPID
US25-2402992
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
$1.78M
Comparable Approach
Comparable
$1.35M
Blend (final)
Blend
$1.47M
Owner & transaction history
Lite Acquisition Company LLC
Lite Acquisition Company LLC
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$2.2M
+23.3%
Commercial (general)
$2.1M
+17.4%
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 Solon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Solon 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%
$1,925,000
6.5%
$1,775,000
7%
$1,650,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,800,000
Current use
WAREHOUSE, STORAGE
$2,220,000
Change: +23% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,115,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$1.47M
Range $1.32M – $1.62M · ±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
$76 / 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
$19,296
Tax year 2023
Assessed value
$652,800
Assessed 2024
Previous assessed
$652,800
+0.0% YoY
Effective rate
2.96%
On assessed value
Assessed land
$342,900
Assessed improvement
$309,900
Land market value
$342,900
Improvement market value
$309,900
Total market value
$652,800
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1988
Stories
1
Total area
19,275 SF
Lot
1.23 ac (53,579 SF)
APN
225143002
UPID
US25-2402992
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
$1.8M
WAREHOUSE, STORAGE
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.1M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
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
1988
Stories
1
Lot
1.23 ac
Current owner
From public records · entity-resolved
Lite Acquisition Company LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 10, SOLON, IA 52333-0010
Ownership since
2025
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
Oct 22, 2025
—
Lite Acquisition Company LLC
Eric J Waddell
Deed
—
Jun 2, 2016
—
Eric J Waddell
—
Deed
related
$1,250,000 · Hills Bank And Trust Co
May 4, 2005
$333,000
Krob Properties LLC
Foundry Equipment Co
Warranty Deed
$249,500 · Hills Bank And 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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