Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    902 31St St Des Moines, IA 50312

    View on Map
    Sponsored
    For Sale
    $60,000

    LAND - Des Moines, IA

    Lot size:
    0.21 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 14 at 3:06 am

    Property Features for 902 31St St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    N1X
    APN
    09005729002001
    Lot size
    0.21 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Nick Stephenson
    Nick Stephenson

    Realty ONE Group Impact (515) 446-7524

    Listing agent Nick Stephenson (515) 446-7524

    Listing date Mar 13, 2026

    MLS# 736301 Listing URL

    Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Des Moines Double Lot

    This is a double lot in an Invest DSM neighborhood that has been combined and rezoned to accommodate either a single-family home or a small multifamily property. The lot's drive is located off the dead end on Crocker Street for easy access. Situated in Des Moines, Iowa, the property is conveniently located just a few blocks south of Drake University and a few blocks north of Ingersoll. The lot size is approximately 0.212 acres. The zoning is N1X. Plans and specifications for different approved building options on the lot are available from the listing agent.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.659755
    Latitude
    41.593806

    Nearby Similar for Sale

    • $950,000
      1.86 Acres

      Adaptable Commercial Space, Des Moines/Ankeny

      Renovated commercial space suitable for retail, office, or service businesses.
      1380 NE 66Th Ave, Des Moines, IA 50313
      View Details
    • $300,000
      3,306 SF

      Highland Park 7-Unit Multifamily Property

      Turnkey investment property with strong rental history in Des Moines.
      3419 1St St, Des Moines, IA 50313
      View Details
    • $425,000
      1.74 Acres

      Des Moines Office/Warehouse Opportunity

      Over 5000 sq ft building suitable for office or warehouse.
      2679 Maury St, Des Moines, IA 50317
      View Details
    • New
      $475,000
      5,692 SF

      Sherman Hill Multifamily Investment

      Six-unit property in Des Moines' desirable Sherman Hill neighborhood.
      686 19Th St, Des Moines, IA 50314
      View Details
    • $310,000
      2,509 SF

      Des Moines Fourplex Investment Opportunity

      Fourplex near Drake College, ideal for investors or owner-occupants.
      1148 36Th St, Des Moines, IA 50311
      View Details
    • New
      $325,000
      2,988 SF

      Des Moines Three-Unit Multifamily Property

      Three-unit property in Des Moines near Ingersoll Avenue District.
      459 27Th St, Des Moines, IA 50312
      View Details
    • $350,000
      2,522 SF

      Five-Unit Multifamily Property in Des Moines

      Well-located 5-unit multifamily property with long-term tenants and upside.
      2936 Brattleboro Ave, Des Moines, IA 50311
      View Details
    • $405,000
      3,174 SF

      Sherman Hill Multifamily Investment Opportunity

      Multifamily property in Des Moines' historic Sherman Hill neighborhood.
      732 19Th St, Des Moines, IA 50314
      View Details
    • $325,000
      0.16 Acres

      Automotive Shop in Des Moines

      Fully functioning automotive shop in a high-traffic location.
      1501 6Th Ave, Des Moines, IA 50314
      View Details
    • $225,000
      3,550 SF

      Historic Mixed-Use Property For Sale

      Unique mixed-use property with commercial space and residential apartments.
      3516 SW 9Th St, Des Moines, IA 50315
      View Details
    • $325,000
      1,768 SF

      Turnkey Duplex with Income Potential

      Des Moines duplex: immediate income, spacious units, finished basements.
      1008 Kingman Cir, Des Moines, IA 50311
      View Details
    • $195,000
      1,282 SF

      Des Moines Duplex: Investment Opportunity

      Charming Des Moines duplex, ideal for investors or homeowners.
      1442 34Th St, Des Moines, IA 50311
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Combined and rezoned lot near Drake University and Ingersoll.
    Where is this residential land & home lot located?
    The property is located at 902 31St St Des Moines, IA.
    What is the asking price?
    The asking price for this property is $60,000.
    What are key features of this property?
    This property features: - Double lot rezoned for single-family or small multifamily property.; - Located a few blocks from Drake University and Ingersoll.; - Easy access from the dead end of Crocker St.
    (515) 508-9087
    Request Owner's contact information
    902 31St St Des Moines, IA 50312
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    902 31St St
    Des Moines, IA 50312
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    902 31St St Des Moines, IA 50312
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Nick Stephenson
    Nick Stephenson
    (515) 508-9087 (515) 224-8888 (515) 446-7524
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!