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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Turn key restaurants
955 56th St Pleasant Hill, IA 50327-8439
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-2547541
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2009
Construction
FRAME
Total area
3,273 SF
Lot
0.75 ac (32,754 SF)
Zoning code
C-2
APN
221/00163-501-000
UPID
US25-2547541
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
$610k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$397k
Blend (final)
Blend
$630k
Owner & transaction history
Cone Capital LLC · 3 yrs held
Cone Capital LLC
since 2023
Last sale
$650,000
3 recorded transactions
Zoning & alternative use
C-2 · Pleasant Hill, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The C-2 zoning district is intended to accommodate the general retain consumer and the needs and services of the automobile traveling consumer. The district includes commercial property along major City streets and highways, providing for general business needs.
Zone name
Regional Commercial
General category
COMMERCIAL
Zone area
349.36 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$565,000
+11.6%
Medical building
$545,000
+7.8%
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 Pleasant Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pleasant Hill 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
$610,000
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$505,000
Current use
AUTO REPAIR, GARAGE
$565,000
Change: +12% · Conversion: Difficult
MEDICAL BUILDING
$545,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$630k
Range $567k – $693k · ±10% · vs last sale $650k (Feb 9 2023)
Last sale anchor
$650k
Feb 9 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
$192 / 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
$14,814
Tax year 2020
Assessed value
$477,000
Assessed 2023
Previous assessed
$477,000
+0.0% YoY
Effective rate
3.11%
On assessed value
Assessed land
$267,000
Assessed improvement
$210,000
Land market value
$267,000
Improvement market value
$210,000
Total market value
$477,000
Applied tax rate
3.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2009
Construction
FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
3,273 SF
Lot
0.75 ac (32,754 SF)
Zoning code
C-2
APN
221/00163-501-000
UPID
US25-2547541
Jurisdiction
POLK
Zoning & alternative use
C-2 · Pleasant Hill, IAZoning C-2 · permitted uses
C-2 · Pleasant Hill, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The C-2 zoning district is intended to accommodate the general retain consumer and the needs and services of the automobile traveling consumer. The district includes commercial property along major City streets and highways, providing for general business needs.
Zone name
Regional Commercial
General category
COMMERCIAL
Zone area
349.36 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$505,000
AUTO REPAIR, GARAGE
Est. value
$565,000
MEDICAL BUILDING
Est. value
$545,000
RESTAURANT Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2009
Construction
FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
Cone Capital LLC
Entity
Mailing address
317 6TH AVE, DES MOINES, IA 50309-4109
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
Feb 9, 2023
$650,000
Cone Capital LLC
Pleasant Occasion Properties LLC
Warranty Deed
$1,264,500 · Fund Ex Solutions Group LLC
Oct 2, 2008
$225,000
Pleasant Occasion Props LLC
Kdd Developers INC
Warranty Deed
—
Nov 2, 2005
$753,000
Kdd Developers INC
D & M Dev Corp
Warranty Deed
$752,520 · City State 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.
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