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    Mick Grossman, West Des Moines, IA

    License ID: S43534000
    Keller Williams Greater Des Moines

    Service Locations

    Contact details

    Phone:
    (515) 334-4900
    Office Address:
    4001 Westown Pkwy, West Des Moines, IA, 50266

    Performance

    Listings
    12

    Listings

    For Sale (5)

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    • Contact for pricing

      West Des Moines Land Parcel

      2.67-acre site in high-traffic West Des Moines corridor.
      3535 Westown Pkwy, West Des Moines, IA 50265
      View Details
    • $6,500,000

      Office Building in Walnut Ridge

      50,640 SF office building in Urbandale's Urban Loop.
      3500 109Th St, Des Moines, IA 50322
      View Details
    • $3,000,000

      Versatile Building in Des Moines

      31,018 SF building with gym, offices, and lecture hall.
      2280 Bell Ave, Des Moines, IA 50321
      View Details
    • $1,200,000

      West Des Moines Commercial Property

      6,718 SF commercial property with showroom and warehouse space.
      101 Ashworth Rd, West Des Moines, IA 50265
      View Details
    • $499,900

      Sherman Hill Multifamily Investment

      Historic Des Moines multifamily property with immediate returns.
      686 19Th St, Des Moines, IA 50314
      View Details

    For Lease (7)

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      Industrial Shop Near I-35/80

      5,817 SF industrial shop with desirable features for rent.
      3839 Delaware Ave, Des Moines, IA 50313
      View Details
    • Contact for pricing

      Modern Retail Space For Rent

      Modern retail space in a newly constructed building for rent.
      3727 Southeast 14Th St, Des Moines, IA 50320
      View Details
    • Contact for pricing

      West Des Moines Industrial Space

      7,964 SF industrial space in West Des Moines, Iowa.
      616 South 19Th St, West Des Moines, IA 50265
      View Details
    • Contact for pricing

      Restaurant Opportunity on Northeast 14th

      7,448 SF building on a 62,809 SF lot.
      5029 Northeast 14Th St, Des Moines, IA 50313
      View Details
    • Contact for pricing

      Renovated Commercial Space For Rent

      Recently renovated 1,600 SF commercial space near downtown.
      3207 Southwest 9Th St, Des Moines, IA 50315
      View Details
    • Contact for pricing

      New Des Moines Warehouse Suite

      4,000 SF warehouse suite in rapidly growing Des Moines area.
      4370 Northwest 4Th St, Des Moines, IA 50313
      View Details
    • Contact for pricing

      Industrial Space with Drive-In Door

      Functional industrial space ideal for warehouse, distribution, or manufacturing.
      1520 Northeast 44Th Ave, Des Moines, IA 50313
      View Details

    Leases and Sales on Map

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    Mick Grossman, West Des Moines, IA
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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